at Cherry Creek is that we want to be your lender for life, and you can’t be a lender for life if you don’t have a reverse product as part of your portfolio,” Arnett says. Influencers Reverse mortgage lenders have long understood the power of others, including financial planners and adult children, to help guide seniors in making financial decisions. As a result, the industry has focused on crafting marketing messages for those audiences. And that is continuing in 2023. This past fall, FAR partnered with investment research firm Morningstar to deliver educational tools to financial advisers across the U.S. The tools help advisers understand the value of home equity as part of a stable retirement plan. “It’s also going to be important that financial planners have a home equity/reverse mortgage specialist to reach out to at least discuss home equity as a possible solution for retirement needs,” Schmidt says. AAG also has been eyeing the best approaches for making inroads with financial advisers, who often are important sounding boards for clients who are weighing decisions about their finances. AAG expects to launch a dedicated campaign aimed at financial advisers over the next several months. “We at least want to educate them and myth-bust with them so they can do it with their clients,” Moschner says. “We know that if we change the minds of ten registered investment advisers, they can potentially change the minds of 50 to 100 seniors.” The company also is planning more outreach to adult children of potential borrowers, Moschner says. They often have the same misconceptions about reverse mortgages as their parents. However, they have mismatched views on the use of home equity. Parents typically want to leave their home—and its equity—to their children, Moschner says. But the children would rather see their parents use that equity to meet their financial needs— and thus are more open to the idea of a reverse mortgage. “Because we know they are more positive, they can be an advocate,” Moschner says. American Advisors Group NMLS# 9392 (www. nmlsconsumeraccess.org). American Advisors Group (AAG) is headquartered at 18200 Von Karman Ave., Suite 300, Irvine, CA 92612. For complete disclosure information, visit https://www.aag.com/legal-information/. Marketing for the Future continued from page 23 888.369.1573 | HTLWHOLESALE.COM HighTechLending, Inc. All Rights Reserved. NMLS #7147 (nmlsconsumeraccess.org). For more information on licensing please visit www.hightechlending.com/compliance-information 24 REVERSE MORTGAGE / MARCH–APRIL 2023
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