Are advisers seeing increase in demand for equity release advice?

Six in ten advisers are now helping their clients with equity release selection and other financial planning decisions rather than offering investment guidance, research shows.

Nearly a third of advisers (30 per cent) have concentrated almost exclusively on financial planning, according to the Institute of Financial Planning (IFP), up by nine per cent compared to last 2008.

Clients are also beginning to trust financial advisers more, with 14 per cent of the belief that their increased contact with customers during the downturn and recovery has helped to maintain this improving relationship.

Commenting on the findings, IFP chief executive Nick Cann explained: "That up to half of advisers have been able to increase client trust is a testament to their training and professionalism, and the increase in the number of advisers turning their models to financial planning indicates a positive future for the profession."

However, this upturn in the focus on financial planning has coincided in a reduction in the availability of particular financial products across market.

Underlining the still existing demand for equity release products in particular, trade body Safe Home Income Plans called on the newly-formed coalition government to prioritise living standards for over 55s, many of whom will benefit from a diverse equity release market.

Ashall Glover Financial Services are equity release specialists