In a rapidly evolving later life lending market, TERN, a new specialist adviser support network launched by Equity Release Group, has been created to help mortgage and equity release advisers manage increasing regulatory pressure, more complex client needs and the growing demands of running a compliant, efficient business. Founder and CEO Mark Gregory explains why adviser support in the sector must evolve.
The launch of TERN – The Equity Release Network – is not simply about introducing another adviser network to the market. It is a response to a challenge we have observed across the later-life lending sector for several years.
The market has evolved significantly. Regulatory expectations are higher, consumer behaviours are changing, and client needs are becoming more complex. Advisers are under greater pressure than ever to evidence suitability, demonstrate strong customer outcomes and operate within a robust, well-documented advice process. Yet in many cases, the infrastructure available to support advisers has remained largely unchanged.
Over the last decade, Equity Release Group has invested heavily in building specialist advice processes, technology, compliance frameworks and transparent consumer-facing platforms. Through our work with advisers, introducers and consumers, one message became increasingly clear: many firms need more than product access and compliance oversight if they are to thrive in the modern market.
They need specialist infrastructure designed specifically for later life lending, which is why we created TERN.
The challenge facing advisers today
Consumer Duty has rightly raised expectations across financial services. Advisers are expected to evidence suitability, demonstrate customer understanding, identify vulnerability, deliver fair value and maintain robust documentation standards throughout the advice journey. In later life lending, these responsibilities are even more prominent.
Clients often present with complex circumstances involving retirement income, inheritance considerations, family dynamics, taxation, care planning or vulnerability. Therefore, advice conversations are rarely straightforward.
At the same time, advisers are expected to grow sustainable businesses, whilst remaining compliant and adapting to an increasingly digital marketplace. For many firms, that creates a significant operational challenge.
The question is: how do advisers maintain quality, consistency and compliance while continuing to grow?
The value of a specialist network
Many traditional mortgage and IFA networks provide valuable support across the wider intermediary market. However, equity release is a specialist area requiring dedicated expertise, processes and technology.
Advisers need access to infrastructure built specifically around the realities of the sector rather than adapting broader systems and frameworks.
TERN has therefore been designed as a specialist proposition from the ground up. It combines structured training, risk-based compliance oversight, integrated technology, marketing support and business consultancy within a single ecosystem focused entirely on later life lending.
Most importantly, it has been built to support advisers at every stage of their journey. Whether an adviser is newly qualified and looking to build confidence, or an established specialist seeking to scale, TERN provides a framework that evolves alongside their business.
Supporting better Consumer Duty outcomes
Consumer Duty was one of the key drivers behind the development of TERN. Whilst Consumer Duty has introduced additional regulatory responsibilities, it has also created an opportunity for firms to improve advice quality and strengthen customer outcomes.
Through the TERN Academy, advisers complete structured onboarding covering advice standards, documentation, technology, Consumer Duty and real-life customer scenarios before providing advice through the network. The focus is not simply on compliance; it is about embedding good practice from the outset. Training is conducted face-to-face to help ensure advisers receive practical, relevant and interactive support.
Advisers are supported through a risk-based Training & Competency framework that adapts according to experience, performance and development needs. This helps create consistency across the advice process whilst ensuring advisers receive the level of support appropriate to their stage of growth.
Technology that supports advisers
Technology has become increasingly important within financial services, but many advisers continue to rely on fragmented systems that were not designed specifically for later life lending.
TERN brings together integrated technology designed to support the entire advice journey.
Advisers have access to CRM functionality, lead management, digital factfinds, sourcing tools, client portals, management information dashboards and case management capabilities through a single ecosystem.
In addition, TERN Perform allows advisers to operate their own branded comparison website powered by smartER® technology. This provides firms with a compliant digital presence capable of capturing enquiries, generating leads and creating a smoother pathway from online research to regulated advice.
Technology should not replace professional judgement, but it should support it.
Our objective has been to reduce administrative burden whilst helping advisers deliver a more efficient and consistent customer experience, as well as one that empowers the customer to have all the information at their fingertips.
Building stronger adviser businesses
One of the most common frustrations we hear from advisers is that support often ends once onboarding is complete. We wanted to create something different.
TERN has been designed around the full adviser lifecycle.
Alongside compliance and technology support, advisers have access to marketing assistance, lead generation opportunities, business consultancy and commercial structures designed to support sustainable growth. As firms mature, support can evolve to include operational efficiency, scalability and succession planning.
Adviser support should not be transactional; it should be a long term partnership.
The future of later life lending
The need for specialist later life advice will only continue to increase. People are living longer, retirement funding challenges are growing, and later life lending is becoming an increasingly important part of a broader financial planning strategy.
As the sector evolves, advisers will need infrastructure capable of supporting higher standards and consumer outcomes, as well as sustainable business growth.
TERN was created to provide that foundation. It reflects our belief that advisers deserve more than generic support models and that the future of later life lending will be shaped by specialist expertise, purpose-built technology and a commitment to delivering consistently good customer outcomes.
That is the role TERN has been built to fulfil.
Mark recently joined us for the latest special Mortgage & Property edition of IFA Talk to discuss how specialist networks are strengthening later life lending. You can listen to the episode here.
