The collaboration will focus on educating financial advisors about reverse mortgages
Finance of America Reverse (FAR) has teamed up with financial services firm Morningstar Inc. to educate financial advisors about home equity and its reverse mortgage offerings.
FAR has tapped Morningstar as its first “reverse mortgage education provider.” Under the partnership, financial advisors will be able to access FAR’s education tools through Morningstar’s Advisor Workstation, a web-based investment and financial planning system.
According to its release, the goal of the team-up is to provide financial advisors with timely information and tools needed to help their clients better understand the benefits of supplementing their retirement plans with home equity.
“We continue to see a shift toward clients looking for financial advisors to provide advice across the balance sheet,” said Kevin Reed, head of strategic platform partnerships at Morningstar. “For many retirees, their home is their most valuable asset, and it deserves to be considered part of a holistic financial plan. We believe that offering access to information about FAR’s range of home equity products within Morningstar Advisor Workstation will enable financial advisors to gain knowledge on reverse mortgages and offer more comprehensive advice to clients.”
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“Financial advisors play a critical role in helping people plan for retirement,” said FAR president Kristen Sieffert. “Teaming with Morningstar will ensure that more advisors are educated about home equity solutions as they create a diverse and long-term financial strategy for their clients. This relationship builds on FAR’s pursuit of a strong connection to the financial advisor community, where we can deepen conversations about home equity as an avenue for people to reach their goals in retirement.
“The need for flexible, customizable retirement solutions is urgent, and working alongside advisors to deliver these vital planning resources to more aging Americans remains our highest priority. I couldn’t be prouder of the work our team is doing to empower people to understand how their home wealth allows them to envision the possibilities of retirement.”