You are here: cherry > Press releases for August 2016 > Retirement lending sourcing tool, AIR Sourcing, announces phase two of development

23 August 2016

AIR Sourcing, the recently-launched sourcing system for equity release and retirement lending products, has today (23rd August 2016) announced the next phase of its development which will include a number of additional features.

The system was designed as the first consumer outcome-driven sourcing proposition for both experienced, and less experienced, advisers. It focuses on detailing the widest range of product options, featuring not only Equity Release Council-approved products but also other retirement lending products.

AIR Sourcing covers at least four times as many product choices as other systems featuring all products from all retirement lending providers with users able to access its unique ‘Research Filters’ to show all product variations.

It has now embarked on a series of Phase Two amendments and the addition of new features into the system, including:

• A ‘Tools and Calculators’ section which will include a ‘Borrowing Forecast’ that can compare products over time, show the impact of further drawdowns or payments off the loan and produce illustrated charts for clients to help advisers justify their recommendations.
  
  
• A ‘Knowledge Base’ which will serve as a source of information not only on equity release but the complete range of later life products and advice areas; it will also cover access to State Benefit software, webinars, and further reading to improve knowledge and the quality of advice.
  
  
• A ‘Marketing Hub’ which will offer numerous templates, downloads, guides and links to online tools to create and manage a marketing campaign.
  
  
• Other features such as an online suitability report creator and an online client solicitor instruction.

AIR Sourcing was launched by Answers in Retirement Ltd - a team with significant expertise and experience in the retirement sector – in May this year. Since launch the system has grown to over 1,400 registered users (of which over 500 are regularly active) conducting over 1,200 sourcing sessions each month.

The system is available to registered advisers free of charge and offers products with enhanced terms for members of the Equity Release Club and Later Life Academy.

To register and see further information on AIR Sourcing, advisers should visit: www.airsourcing.co.uk

Ray McCarthy, Marketing & Distribution Director at Answers in Retirement Ltd, commented:

“With the first phase launch of AIR Sourcing we wanted to provide advisers with a far more comprehensive research and sourcing system than they’ve had access to before. It was not our aim to provide a ‘me too’ offering – essentially a rate comparison tool that would add little value to the sector - instead we wanted to cover off the widest range of products available and to offer a system which could be used by advisers either on a basic level to identify the lowest-cost product for a set amount but also offer advisers all the tools they require to research products diligently based on a range of product features that their clients need. All the feedback we have received since launch from our advisers and network users, plus our growth in both registered/active users and the number of source sessions, tells us this has been achieved.

“It now means we can move onto the second phase of AIR Sourcing development where we introduce another layer of additional expertise plus a number of new tools which will help users attract more clients, provide the best advice and win more clients. New features such as our ‘Tools and Calculators’, ‘Knowledge Base’ and ‘Marketing Hub’ have been clearly designed to support the adviser’s interaction with the client, to help provide more supporting information for the recommendation, and to help them develop client relationships in the first place. We are incredibly pleased with how our first few months of launch have progressed and by embarking on this next phase, we can continue to tailor our offering to meet the growing and more sophisticated needs of advisers and their clients.”

For further information on the Later Life Academy, please visit: www.laterlifeacademy.co.uk.

For further information on the Equity Release Club, please visit: www.equityreleaseclub.com.