The vast majority of financial advisers fail to incorporate home equity planning or reverse mortgages into their practices, which may put their clients in a worse situation than if there had been an error of omission. Compensation models, a lack of education and specific compliance policies are some of the reasons why this may be occurring.
“However, if advisers are truly committed to doing what is in the best interest of their clients, this needs to change. The financial advisory world needs to embrace home equity and reverse mortgages.”
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