Answers in Retirement announce investment from KR Group
Answers in Retirement Group (AIR Group), the Group of companies covering a range of retirement and later life services, has announced that Key Retirement Group (KR Group), the financial services group for those both in and approaching retirement, has acquired a stake in the business.
The investment by KR Group will enhance AIR Group’s financial strength and will provide additional working capital to facilitate the roll out of a series of enhancements and new services under all three brands.
AIR Group currently comprises: AIR Sourcing – the sourcing system for equity release and retirement lending products; the Equity Release Club – the platform for equity release and later life advisers; and the Later Life Academy (LLA) – the commercial and training organisation for later life advisers.
The commitment from the new investor is to support the existing management and staff and that it will be “business as usual” for AIR Group, its focus and its commitment to advisers. Stuart Wilson, previously Group Managing Director, becomes Chief Executive Officer.
The investment comes off the back of a strong set of results for 2017 with turnover for AIR Group up 49%. In addition, AIR Sourcing saw a 140% increase in the number of registered users and Version three of the system, offering a wide range of market-leading enhancements, is soon to be launched.
Commenting on today’s news, Stuart Wilson, Chief Executive Officer, Answers In Retirement Group, said:
“This marks the next phase in the growth of AIR Group and will significantly enhance our position as a premier later life proposition for advisers. The investment from KR Group is a ringing endorsement of what we have already achieved providing us with new investment and expertise in order to develop and enhance our range of services. Part of the appeal of this deal was the commitment from KR Group to allow us to get on with what we’ve been doing, keeping everything and everyone in situ to carry on with our plans.
“We believe we offer one of the best value propositions in the marketplace, and with greater levels of resource and this financial backing, we’ll be able to deliver even better value and outcomes for our adviser members. It’s an incredibly exciting time for the Group and this deal endorses everything that we are doing while providing the support to accelerate the roll-out of our planned enhancements, particularly for AIR Sourcing.”
Simon Thompson, CEO of Key Retirement Group, added:
“KR Group are pleased to be supporting Stuart Wilson and his ambitious growth plans for Later Life Academy, Air Sourcing and the Equity Release Club. While we are ourselves growing adviser numbers at considerable pace, the group is keen to help support the growth of advisers in the wider marketplace. This investment will help Stuart and the team to deliver their vision through further development and resourcing of its already well-established businesses. Stuart will continue to head up the three businesses with no changes to the operation or the team.”
For further information on AIR Sourcing, please visit: www.airsourcing.co.uk
For further information on the Equity Release Club, please visit: www.equityreleaseclub.com
For further information on the Later Life Academy, please visit: www.laterlifeacademy.co.uk