Working parties within AMI have finite lives, but the next AMI working group meeting will be to discuss the creation of a separate equity release body under the AMI umbrella.
Although it is not yet clear what structure the working group will take if the vote is positive, Rob Griffiths, associate director at AMI, says it may be given its own name while operating with the clout of AMI behind it.
Colin Taylor, managing director of KRS, says one of the reasons it didn’t join AMI sooner was because it wasn’t sure if it would be a good enough voice for the equity release industry.
However, following the establishment of AMI’s equity release working party and press reports that this could be made a permanent fixture, it has decided to support AMI in encompassing the equity release community.
He adds: “We have seen AMI’s commitment to the equity release market over the last year. With the number of advisers we have it’s a sizable financial commitment for us, which is a sign of the importance KRS places on this new division within AMI. We think it’s high time equity release advisers got their own dedicated voice.”
Griffiths adds: “We’re delighted to welcome KRS as a new member of AMI. We are a strong supporter of the equity release market.”