IRS to recruit new advisers

In Retirement Services is to appoint 20 new advisers following the FSAs equity release mystery shopping exercise, which highlighted the need for specialist
knowledge.

The FSA report has resulted in a significant increase in companies looking to
outsource their equity release service to IRS.

The advisers need to be FPC qualified but do not necessarily need previous
equity release experience as they will be placed on a six month training
programme that combines both classroom and in environment training. All
advisers are also required to hold the Certificate in Lifetime Mortgages or
equivalent prior to being able to provide advice.

Frank McCann, head of business development at IRS, says: We have always insisted that equity release advice is very specialised, not least because of the customers age and the long term commitment that they are making. This is why we insist every customer receives a minimum of three face-to-face meetings.

“The meetings will ideally include friends, family or legal advisers and the customers can change their mind, without penalty, at any point up to the plan completion, a process that usually takes two months.