- Rebrand builds platform for expansion and new businesses
- Bower advises one in 10 equity release customers not to go ahead
National specialist adviser Bower Retirement is focusing on increased use of technology and service for customers and partners as it rebrands for continued growth and recruitment.
The adviser firm, founded in 2006 as an equity release specialist, has changed its name from Bower Retirement Services as it enhances its service for the growing retirement planning market with the launch of new online tools.
Bower was one of the first equity release advisers to use online marketing backed up by dedicated face-to-face advice but recognised it needs to rebrand to further strengthen its operation as the equity release market expands rapidly. Its own figures for September show a 36% year-on-year rise for applications
New services include video guides for customers and potential new recruits as well as online chat services for customers and a focus on ensuring customers are offered as wide a range of solutions as possible. Videos are hosted on YouTube
Research among its own network in the past 12 months show currently around one in 10 customers inquiring about equity release are advised not to go ahead demonstrating the importance of independent advice in a growing market.
Geoff Charles, Chief Executive at Bower Retirement said: “Around £8.2* million of housing wealth is being withdrawn every working day as the equity release market grows and more customers look to property wealth for retirement planning.
“The market is changing however and we need to enhance how we work with customers and partners to ensure we continue to play a major role in the innovation that is driving equity release and retirement lending.
“Independent and impartial advice is central to delivering the comprehensive customer support that is needed and we plan to add more services to reflect the changes in the market.”
Bower, which was founded by chief executive Geoff Charles with one member of staff in 2006, now has more than 80 people including a nationwide network of advisers and a growing head office in Ongar, Essex.
Expansion has been boosted by the launch of new services including Bower Private Clients – the first dedicated high net worth equity release advice business.
Advisers wanting to find out more about opportunities at Bower should visit www.BowerRetirement.co.uk.