Key Retirement has appointed Will Hale as chief executive as it announces plans to increase its adviser numbers from around 130 to 200.
Hale was formerly business development director.
Key Retirement was previously run by managing director Richard Overson, who will now run the unit’s field-based adviser teams and report into Hale.
Hale will lead the firm’s expansion plans, which include investment in consumer-facing technology and upgraded adviser sourcing systems.
The firm also plans to build stronger relationships with banks and building societies to secure more sign-posting deals for interest-only customers.
Founder and former group chief executive Colin Taylor left the firm in April when it was bought by Partners Group.
He was replaced by deputy chief executive Simon Thompson.
Equity release is in a profitable period, with the value of new lending rising 27 per cent year-on-year in Q2 to £701m.
Hale says: “Increasing advice capacity is crucial as Key grows in response to the strong customer demand for equity release.
“The adviser recruitment will include adding significant numbers to our telephone team as well as adding more face-to-face advisers to align with anticipated regional trends in demand.”
Thompson says: “The acquisition by Partners Group is enabling us to increase investment and Will’s expertise and experience makes him the ideal candidate to lead the expansion of the advice arm.”