Addressing the issue of equity release qualifications is only part of the problem, believes Stuart Wilson - the regulator also needs to look at how it defines the term 'retirement lending'
The recent move by the Financial Conduct Authority (FCA) to consult on the equity release qualification for advisers has been received with mixed reviews from the industry. While it is good to see the FCA is listening to advisers and starting to address some of the issues in the lifetime lending market, we need to be careful and ensure that any changes either to regulation or adviser qualifications lead to better consumer outcomes and an even more professional marketplace. This area has evolved from being somewhat niche into a specialist advice market and we need to raise awareness about...
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