Security One Lending (S1L) is making headway in educating financial planners on the use of reverse mortgages as a viable retirement tool.
S1L, a division of Reverse Mortgage Solutions, presented a national webinar last week specifically designed for Certified Financial Planners, which attracted more than 500 advisors.
The webinar, “A Fresh Look at Reverse Mortgages,” featured guest speaker Michael Kitces, a partner and the director of research for Pinnacle Advisory Group. Located in Columbia, Maryland, Pinnacle is a private wealth management firm that oversees approximately $1 billion of client assets.
Attending CFPs also received one hour of C.E. credit for the session, the second in an ongoing series of national webinars offered by S1L and the American C.E. Institute. In June, Dr. Barry Sacks presented the first webinar in the series, “Reversing Conventional Wisdom.”
“The success of these presentations clearly shows the reverse mortgage has evolved from merely a needs based ‘product of last resort’ to true and viable option to be considered as just one component in an overall and more comprehensive retirement plan,” said Torrey Larsen, president of retail lending for RMS.
Eliminating reverse mortgage misconceptions among the mainstream financial community is a key element in S1L’s “education business model,” said Director of Business Development Shelley Giordano, who has been working on S1L’s ongoing education efforts among the financial planning community. Those efforts have included the webinar series as well as the recent establishment of a reverse mortgage advisory board to target misconceptions about the product among financial planners.
“The success of these first two national webinars clearly shows this topic is incredibly timely and relevant to financial advisors working with seniors,” Giordano said.
Future presentation topics will address the relationship of long-term care and reverse mortgages, as well as the ongoing series “Using Household Wealth During the Distribution Phase of Retirement.”
Written by Jason Oliva