CEO STEVEN RANSON DELIVERS KEYNOTE ADDRESS AT THE CIFP CONFERENCE
OTTAWA, May 31, 2017 – Steven Ranson, President and CEO of HomeEquity Bank, Canada’s only provider of the CHIP Reverse Mortgage™, today delivered a keynote address at the 2017 Canadian Institute of Financial Planners (CIFP) Conference. Ranson’s address was titled “An Untapped Partnership: Helping Canadians with Prudent Retirement Planning.”
The theme of the 2017 CIFP conference, “Canada – Planning for Another 150 Years,” focuses on three critical financial planning components: retirement and lifestyle planning, risk management and estate planning, wealth accumulation and income tax planning.
With rapidly shifting demographics in Canada, Ranson spoke of equity release as a retirement solution for consideration – particularly as a result of recent data showing that Canadians over the age of 60 have an average debt balance of $74,000 with 17 per cent of those Canadians holding a mortgage. Financial planners will play an increasingly important role for seniors since the 8.3 million Canadians over the age of 60 hold two thirds of all assets under management.
“We want to encourage Canadians to think about the equity in their homes in an active rather than a passive way,” said Ranson. “For most people, it’s the single largest asset they own. Especially at a time when we are living longer and stretching our savings further, it makes sense to unlock some of that equity – tax free.”
“Partnerships between financial planners and HomeEquity Bank are steadily growing,” he added. “Planners have the respect and trust of their clients. We want to ensure that they consider equity release as part of long-term planning strategy for Canadian seniors.”
About HomeEquity Bank
HomeEquity Bank, a federally-regulated, Schedule 1 Canadian bank, is the only national provider helping Canadian homeowners aged 55+ access the value of the equity they have in their homes, maintaining ownership of their home, until they make the decision to sell.
HomeEquity Bank has partnered with the Canadian Association of Retired Persons (CARP) Canada’s largest non-profit, non-partisan advocacy association for Canadians As We Age. CARP now recommends HomeEquity Bank’s CHIP Reverse Mortgage™ as a smart and comprehensive solution for Canadians planning for retirement.
HomeEquity Bank has ranked on the Canadian Business and PROFIT’s 28th annual PROFIT 500 list, the definitive ranking of Canada’s Fastest-Growing Companies.
HomeEquity has also been recognized as an Aon Best Employer – Canada 2017.
-30-
Media contact:
Yvonne Ziomecki yziomecki@homequitybank.ca