Square 4 is the latest member to join the Equity Release Council (ERC).
The financial services consultancy and operations specialist helps companies navigate compliance, regulatory challenges and operational improvements.
It offers regulatory advice across a variety of sectors, including banking, insurance, investments, pensions and equity release.
It has produced a consumer duty board report guide to help firms following the implementation of the Financial Conduct Authority’s (FCA’s) Consumer Duty.
The guide assists with the regulatory expectations, rules and best practices set out by the FCA.
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An exciting step
Matthew Drage, managing director at Square 4, said: “Joining the Equity Release Council marks an exciting step for us as an organisation.
“While our core focus remains on supporting businesses to grow and thrive across the evolving spectrum of conduct, financial crime, and operational risk, we are eager to contribute to the important work of the council.
“We believe that our expertise in compliance and operations will support firms to deliver great consumer outcomes, and will ultimately add value to the council’s mission – to help more people responsibly unlock the value of their property, ensuring the highest standards and best practices are upheld across the industry.”
The latest data from the council shows total lending increased by 15% to £577m in the second quarter, while new customers rose by 12%.
Commitment to higher standards
The council’s membership includes all active lifetime mortgage providers across the UK, Ireland and Canada, among more than 750 member firms that also encompass financial advisers, solicitors, surveyors and other professionals.
Jim Boyd, chief executive of the ERC, said: “As the newest member of the Equity Release Council, Square 4 joins a number of consultancies that are committed to upholding the highest standards within the later life sector.
“Its decision to join the council demonstrates the opportunity and continued evolution of the equity release sector that embraces innovation to deliver the best outcomes for customers.”
