Sixty Plus’ advisers and its former managing director David Wright will join the Bower team, meaning Bower’s adviser count has increased by 40% in the last year.
Geoff Charles, chief executive of Bower Retirement Services, said: “The addition of Sixty Plus and David Wright to the Bower team will help to fortify us further, allowing us to reach out and help more customers than ever before.
“Bower is in the middle of a period of sustained growth, and this deal will add another layer of expertise – and added capacity – to our business.
“The amalgamation with Sixty Plus will allow us to forge forwards with expanding our offering to meet the growing needs of our customers.”
David Wright, who set up Sixty Plus in 2006 after working on the front-line as an adviser over the last 10 years, brings over 20 years’ experience in the financial services sector to Bower.
He said: “Bower has established an enviable reputation among consumers and advisers alike.
“The ethos of the company – to advise and not simply sell – creates a nurturing, ethical atmosphere in which to operate, one that fits well with the values Sixty Plus stood for.
“Together, our combined manpower will make a tangible impact on the lives of many more over-55s.
“Equity release is booming and we are going to make sure that as our business grows, the quality of advice we provide stays second to none.”