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Looking For New Equity Release Clients
10/05/2010
LOOKING FOR NEW EQUITY RELEASE CLIENTS
There have been a few providers leaving the Equity Release market over the last twelve months making some advisers worry about the availability of funding. There are still a good number of well known providers in the market, with good product ranges on offer.
As has always been the case one of the biggest problems facing the advisor is how to attract a steady flow of prospects to their business and then how they turn these prospects into customers and ultimately new business.
The adviser needs to start thing outside the box and get away from their usual marketing methods. He really needs to understand the benefit for certain individuals that equity release can help with. For example quite often equity release can help a retired person top up their income due to the lower pension he might well now be receiving. People use equity release to help children or grandchildren purchase property, by giving them the initial deposit. People are happy to do this as they see it as giving their inheritance to them early.
The advisor does not really have to have an aged client bank, just to start asking the right questions to uncover the potential client.
So the advisor should start looking in the areas that a retired person might need money, for example people at retirement think about looking at caravans so they can start to tour round. Hook up to a company that sells caravans, campervans. If the prospect can't afford to buy the caravan they can recommend the prospect to the advisor to talk to them about how they can raise the finances to make the purchase they want.
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