Equity release trade body launched

The Independent Equity Release Adviser Alliance (IERAA) - a body set up and funded exclusively by advisers - has been launched, with the aim of promoting the use of highly qualified and experienced advisers in the sector.

The Alliance has been set up to provide a body of advisers that all have the same aims and ideals, and all IERAA advisers will work to an agreed code of conduct and offer a common charging structure to ensure reasonable fees.

The IERAA will bring together advisers who can demonstrate they are able to provide equity release advice at the highest level.

The alliance will also create an online directory listing so that members of the public, consumer and charity groups, as well as legal professionals are able to choose an experienced adviser in their area.

Anthony Harris, chairman of IERRA, said the body provided an opportunity to highlight those advisers who had been giving an excellent level of service in the Equity release sector.

He said: “My experience is that those advisers who have chosen to specialise, have a common aim and that is a real desire to make sure their clients receive excellent service and advice. It is not just about products either. An independent adviser is uniquely placed to assess the suitability of equity release first for a client, then look at which product would be suitable.”