this Comprehensive Planners Alliance The Association of Financial Planners (ACP) will hold its annual conference this October in Savannah, Georgia, and the event will feature two of the nation’s leading reverse mortgage lenders as major sponsors.
Headquartered in Plano, Texas American Financial (FOA), currently the industry leader in reverse mortgages and a reverse mortgage lender and servicer headquartered in Paramus, NJ Longbridge Financial will sponsor the event. According to the event’s announcement, the ACP Annual Conference is primarily for “tax-focused fiduciary financial advisors who provide clients with comprehensive wealth accumulation strategies on a commission-free basis.”
The full agenda has not yet been released, but keynote speakers include financial planning professionals who will speak about business topics relevant to the industry. The organization said it expects “more than 100 members to attend this year’s conference, in addition to other advisors, partners, sponsors, vendors and journalists.”
The presence of two reverse mortgage industry leaders at the event aligns with the industry-wide clear desire to build stronger, more productive referral relationships with financial planner professionals. These professionals are a critical group that members of the reverse mortgage industry believe can help foster new business opportunities.
at party house line In April, FOA President Kristen Sieffert was in Scottsdale, Arizona, recommending that more financial planners get up to speed on the mechanics of the reverse mortgage product.
She believes these professionals may advise their senior clients to use reverse mortgages to protect against sequence-of-return risk, by leveraging a reverse mortgage line of credit during periods of market volatility until the portfolio stabilizes.
FOA also conducts outreach to financial planners through its vice president of retirement strategies, Steve Resch. He recently spoke to HousingWire’s Reverse Mortgage Daily (RMD) about how the industry’s conversations with financial planners have changed over the past few years.
In a 2022 interview with RMD, Longbridge CEO Chris Mayer explained the importance of facilitating reverse mortgage conversations between financial planners and their clients.
“For financial advisors to really learn and understand the products that are right for them, meet with a group of people and talk to elder care attorneys or real estate agents, many of which are local conversations,” Mayer said. “In order to have that kind of impact, you have to enable people across the country to […] Have people who can have on-the-ground conversations.
Data on Home Equity Conversion Mortgage (HECM) volume Reverse Market Insights (RMI) said FOA remains the No. 1 reverse mortgage lender nationwide with 7,784 endorsements in the 12 months ended May 31.
