ERC and LLA launch adviser training scheme

The initiative aims to help specialist advisers broaden their knowledge and service offering in response to growing demand for equity release.

Advisers will have access to a number of complementary training modules on subjects including pension freedoms, estate planning and benefits and taxation.

Initially a series of three events will be launched in April/May and will be followed by an ongoing series of modules focusing on care funding, benefits and taxation, estate planning and funeral plans, and marketing and business development.

Should members choose to work through the development programme to become a fully graduated member of the LLA, there will be compulsory modules that need completing.

The LLA training programme is accredited by the National Skills Academy for Financial Services and is open to all Level 3 equity release-qualified advisers and above.

Donna Bathgate, Chief Operating Officer at the Equity Release Council, commented:

“Partnering with the Later Life Academy will strengthen the support for existing and new advisers in a rapidly growing market. High standards of advice have been fundamental to giving consumers confidence to use equity release as a source of retirement income. This new initiative offers a clear channel to support best practice and increase the scope of advice to help meet extra demand.

“Planning effectively for later life means weighing up a host of issues, and our response to the FCA and Treasury’s Financial Advice Market Review suggested it would be difficult for any single adviser to become a specialist across every area. However, it is important to have a firm foundation of current knowledge to give or signpost clients to the most suitable advice for their circumstances.

“Combining The Council’s Standards and LLA’s accredited training will help businesses to adapt to changing consumer needs and the increasingly complex retirement landscape. It also reinforces the fact that, by choosing a Council member, consumers will receive the best quality of advice.”

Stuart Wilson, Managing Partner, Later Life Academy added:

“There are a great many advisers authorised in this sector who want to see an established support programme to enable them to deliver more solutions to more consumers. It is clear the later life market is not only growing but evolving, and this strategic initiative will assist advisers in developing and moving their business forwards, enabling them to deliver a stronger consumer proposition. Our shared vision with the Equity Release Council is to empower those advisers wishing to improve their market knowledge and standards.”