Mail & Door Drops
For advisers on a mission
Issue 57 | March 2021
BackgroundPrior to the campaign more2life were the third largest equity release provider in the UK - their products can only be sold via financial advice (as a legal requirement for all equity release products). Market opportunity The equity release market is expected to continue to grow rapidly with over 55s making up 30% of the UK population, increased life expectancy, more active lifestyles in retirement and decreasing pension pots. Brand challenge Financial advice is the only way consumers can access this market. And pre-campaign research with financial advisers showed that more2life had much lower brand affinity vs. the market leaders Aviva and Legal & General (the specific brand affinity scores are confidential). Key market data insights more2life have arguably the best and widest ranging products on the market – but this was not reflected in their share of market ? The market talks the language of ‘safety’ and ‘trust’ and is consumer focussed – it does not encourage excitement and confidence around the opportunity for advisers ? Competitor research showed a gap for a lender to position themselves alongside advisers
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