AiR Sourcing
2017 was a record year for AiR Sourcing as part of the Answers in Retirement Ltd group. Highlights included:
- 41.7% increase in completions via the Equity Release Club
- 58.4 % increase in applications via the Equity Release Club
- 78% Growth in new users of AiR Sourcing
- 10 years’ consecutive profitability
- Winner for the second consecutive year of the coveted “Best Technology Innovation” for AiR Sourcing
- Successful Launch of “Version 2” of AiR Sourcing, sponsored by PURE retirement
- 30% increase in number of Providers featured on AiR Sourcing
Retirement Advantage joins Canada Life Group
We are delighted to announce that Retirement Advantage became part of the Canada Life Group (UK) Limited on 2nd January 2018, following regulatory approval.
You probably know Canada Life already, and perhaps have direct experience of working with them or using their products. Canada Life has operated in the United Kingdom since 1903, and today they offer a wide range of services including unit linked bonds, OEICs, wealth management, group insurance and IHT planning, looking after the needs of thousands of individuals and companies. Canada Life is itself part of Great-West Lifeco, with over 30 million customers worldwide and £760 billion in assets under administration.
Canada Life shares Retirement Advantage’s passion for outstanding service and support. Like Retirement Advantage, they have won many awards for their products and services, and currently hold, as we do, Financial Adviser’s 5-star service rating.
As part of Canada Life, Retirement Advantage will be a financially stronger and operationally more capable business. For example, access to Canada Life’s fund range and investment capabilities will allow us to strengthen our drawdown product range.
Canada Life’s financial strength is strongly rated by agencies including Fitch (AA), Moody’s (Aa3) and Standard & Poor’s (AA). For the last 14 years Canada Life has held a 5 star rating from AKG, who provide financial strength data for our industry.
Find out more about Retirement Advantage and Canada Life on our website: www.retirementadvantage.com/adviser/
Bower Retirement
Looking back
2017 was a pinnacle year for the equity release market with homeowners aged 55+ borrowing over £3bn. It was also a successful year for Bower Retirement winning numerous industry awards including Best Equity Release Adviser for the 5th year running in the What Mortgage Awards 2017.
We were also thrilled to have won Equity Release Adviser of the Year in the Investment Life & Pensions Money facts Awards, Best Broker for Equity Release at the Mortgage Strategy Awards and to have been highly commended for Best Equity Release Adviser, in the 2017/18 Personal Finance Awards.
Looking ahead
Bower Retirement and Bower Private Clients are looking forward to another successful year. We will continue to offer our award-winning service which was recognised in 2017 having been awarded a Feefo Gold Service Award. In the year ahead we will continue to work to our core values of Trust, Honesty, Service to ensure we deliver to each client, a balanced and informed view on equity release and its role in retirement planning.
With the market only heading in one direction, 2018 is set to be another record breaking year of which Bower Retirement are excited to be a part of.
Viva Retirement Solutions
Viva are very pleased to announce that we have been shortlisted for the Mortgage Strategy Awards 2018.
Pure Retirement
We’ve expanded our team once again to ensure we’re always on hand with the support you need, with three new members of our broker support team, and new Business Development Manager Hattie Tales who will be covering the south of the country. And following his win of Best BDM at November’s Equity Release Awards, Chris Flowers has moved into the role of Head of Distribution.
We’ll be exhibiting at Glasgow’s FS Expo on March13th as well as taking part in several Equity Release Club events throughout Q1 this year – watch out for notifications of events near you. We’ll also be hosting several Product Think Tanks this March, discussing new product features and further ways to innovate the market.
January’s edition of Lifetime Mortgage Insight Magazine is now available from The Premier Equity Release Club and sponsored by Pure Retirement. Containing articles and Information from the Equity Release Council alongside a host of ER providers and specialists, it’s a really useful knowledge bank with information on the ever-changing market.
You can also learn more about Pure Retirement, who we are and what makes us tick in a new short film series which will be launched in March this year – watch out for snippets through our social media accounts!
And lastly, we’re delighted to be finalists for Best Equity Release Provider at February’s upcoming Mortgage Strategy Awards, as well as being selected as One to Watch in this year’s European Business Awards. To be recognised by Europe’s largest cross-sector business competition as one of the best in Europe is something we’re very proud of, so thanks to everyone for all your support.
Ferret
Ferret are pleased to announce that we picked up the Pensions Insight ‘DC technology provider of the year’ in November 2017.
This was for our pensionForward systems, where the judges had a reference from one of our users which said “As an IFA and Citizens Advice Bureau volunteer I use a huge range of both free and paid for software, some of which I use occasionally. Few I regard as indispensable: pensionForward is one of them. The simplicity of operation, the speed with which I can illustrate the impact of the decision to a client and maintain an audit trail is fantastic. The free training and helpline for both technical and state benefits is enormously helpful. I wouldn’t risk the business to pensions retirement advice without it.”
Legal and General
New beginnings, toilet rolls and loneliness. Is this really the story of retirement?
Nobody experiences retirement in quite the same way. In 2017 we spoke with over 2,000 of our pensioners and asked them about their experiences of retirement. We asked 3 simple questions.
- What are you enjoying?
- What are you not enjoying?
- What has surprised you?
The results were educating, at times funny and occasionally poignant.
You can read the full article ‘The good, the bad and the unexpected lives of UK pensioners’ here.
The Good – what are you enjoying about your retirement?
Our results showed a number of respondents embracing retirement and enjoying the extra time they had to spend with their families and grandchildren.
But it was also inspiring to discover a number had taken up new courses and interests. Now they didn’t have to focus their energy on work and vocational courses, new interests varied from wildlife and family history to creative writing!
Top 5 answers
- No time pressure
- Freedom
- Hobbies
- Grandkids/ Family
- Travelling
The Bad – what are you NOT enjoying about retirement?
Ditching the 9-5 routine of work is what many of us imagine enjoying most in retirement. But the results showed this isn’t always the case. Many retirees told us that they actually missed work and the social life that it provides.
Finances are a concern for some of the retirees. 14% said that money worries, bills or a reduced income were the least enjoyable part of retirement. Despite the free time retirement brings, one respondent summed it up when they said ‘leisure costs money’.
Respondents also talked about health worries and loneliness that can be a part of retirement.
Top 5 answers
- Financial worries
- Getting older
- Health worries
- Missing work, social life
- Nothing – I enjoy everything
The unexpected – what has surprised you about retirement?
The biggest surprise by far was that time goes too quickly. People found it easy to fill their day and almost wondered how they ever found the time to work.
Some of the more unusual surprises were how many toilet rolls were being used, starting a new relationship and still not finding enough time to clean the loft!
Top 5 answers
- How quickly time flies
- How did I fit work in?
- How much I enjoy it
- Having plenty of money
- How difficult it is to manage financially
Helpful resources
Read our full report for a list of contact details and resources which you may find helpful to refer your clients to if they are affected by any of the issues raised.
