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Article: Fear of an equity release scandal grows among IFAs.(investment advisers)
- Article from:
- Financial Advisor
- Article date:
- September 8, 2005
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EQUITY release could become the next mis-selling scandal, according to the majority of IFAs.
About 55 per cent of IFAs polled by GE Life said they were wary of equity release because of the vulnerability of the consumers the product was aimed at.
The research also revealed many advisers still feel uncomfortable about equity release with 19 per cent saying they would not advise on the product because they deem it to be too high risk.
The 59 per cent of advisers who had recommended an equity release vehicle in the past six months said they obeyed a strict criterion for the
selection of products in the hope of avoiding complaints about ...