• New Business Development Managers will cover the North and South

Leading referral service Key Partnerships is expanding its support for advisers looking to grow their businesses as the equity release market hits new record highs.

It has invested in new business development managers to cover the North and South continuing the significant investment across the team following rapid growth with more recruitment planned for the rest of 2017.

Hema Patel has been appointed as the Business Development Manager to cover the North of England, Scotland and Northern Ireland with Jacques Pienaar joining as Business Development Manager covering the South and Wales.

Hema Patel has worked closely with financial advisers in her previous role as a Senior Estate Planner at Key Retirement and has also worked for Ernst & Young and Robert Half in a 15-year career.

Jacques Pienaar has extensive experience and expertise as he was previously a financial adviser and started his own financial services company.

Their appointments build on expansion at Key Partnerships which last year saw growth of more than 71% with referral customers releasing an average £100,598 – nearly double the £55,260 on average released by customers going direct to equity release advisers.

Growth across the equity release as a whole has continued in 2017 with the first three months seeing plan sales rise 58% over the same period of 2016 and total lending increasing by 53% to £633 million.

Will Hale, director at Key Partnerships, said: “There are more opportunities for innovation in equity release market than ever before with the ongoing impact of interest-only mortgages coming to maturity and pension freedoms starting to have a major impact.

“Hema and Jacques have the expertise and experience to help advisers access the wide range of opportunities in the equity release market and their appointment underlines our focus on increasing support for a wide range of intermediaries.”

Key Partnerships is increasingly focussing on customers referred by introducers and has allocated a number of dedicated Key Retirement advisers to this channel. These dedicated advisers are experienced in dealing with the complexities of larger cases including the need to factor in related transactions involved such as the purchase of a property.

These advisers have been proactive in working closely with introducers and demonstrating how equity release referrals can be used to expand their customer proposition and create a profitable new revenue stream.

Key Partnerships is a B2B referral service providing a whole of market equity release solution for introducers and their clients, through parent company Key Retirement; leading specialist provider of financial solutions to the over 55’s. Over 7,000 introducers encompassing IFAs, mortgage brokers, accountants, solicitors and estate agents are registered to refer business to Key Partnerships. In return for the referral, intermediaries earn on average £1,319 on completion of the loan.