As Australia's reverse mortgage market continues to gain interest, the Senior Australians Equity Release Association of Lenders (SEQUAL) has launched a professional development program to ensure planners are well-placed to advise clients.
Endorsed by the FPA, the SEQUAL Financial Planner Equity Release Program covers regulation and financial calculations, as well as developing alternative strategies for reverse mortgages.
"Care needs to be taken when advising clients on these products, so its vital advisers can access the right training and support to maximise their clients' outcomes," FPA chief executive Jo-Anne Bloch said.
Formatted as a four-hour workshop, the course qualifies for continued professional development allocation, and will see those advisers who gain accreditation listed as reverse mortgage consultants on the SEQUAL website.
"We want to give accredited advisers exposure and by making the course available via our website, also maximise the number of advisers who can become reverse mortgage consultants," SEQUAL chief executive Kevin Conlon said.
"Equity release as a retirement funding tool is becoming a more commonly used option for retirees these days, so its crucial advisers have the expertise and skills required to give advice, should someone want to borrow against the value of their home." He said.
Workshops will be offered nationally, with the first to be conducted in Sydney, Melbourne and Brisbane next month.
