An equity release provider has teamed up with a pension specialist in order to deliver “holistic and integrated advice” to later life lending customers.
Key Equity Release’s partnership with Pense is in recognition that “conversations focused solely on equity release and the alternatives without expert pension advice are no longer sufficient for some customers”.
Key said that many of their customers require advice across property wealth together with pensions and that the partnership is designed to meet that demand and reflect the FCA focus on joined-up advice on their retirement income strategy including all assets.
They said the partnership will help boost “good customer outcomes” by offering comprehensive personalised planning.
Pense works with all major pension providers and searches the market for the best retirement products and rates including annuities and advice on flexi-access drawdown.
Its platform provides access to up-to-date annuity rates and market data, enabling clients to compare quotes and evaluate their pension plan options. Clients also have their own designated representative or adviser.
Rachel East, senior director, Key Equity Release, said:
“Our partnership with Pense reflects our commitment to delivering truly holistic support for customers in later life and is an important step in ensuring customers feel confident that every aspect of their finances is being considered.
“Equity release is often just one part of a much broader retirement planning picture. By working closely with pension specialists, we can ensure customers receive more rounded, joined-up advice that considers their property wealth alongside their pension income and long-term financial goals.
“This approach not only aligns with the FCA’s direction of travel, but most importantly, helps us achieve better outcomes for the people we support.”
Richard Morrall, CEO, Pense, said:
“We look forward to working with Key Equity Release and helping their customers meet their retirement needs.
“All types of advisers should be working more collaboratively rather than focusing solely on their own specialism so that clients can assess all their options in a fully transparent way which benefits them and puts them in a better financial position.”
