Key Retirement Solutions has reported an year-to-date increase of 250% in the number of referrals it received from independent financial advisers, mortgage brokers and building societies, compared to the same period in 2007.

The impact of the credit crunch has encouraged a number of advisers to look for new avenues to generate revenue. Equity release stood its ground well during this difficult period, and is now seen as a good source of potential income.

As a result Key Retirement Solutions (KRS) are to strengthen the Key Partnerships team with the recruitment of two new staff. The new managing director will be responsible for the day-to-day management of the company, and ensuring that both new and existing partners are provided with the best support to stake their presence in the equity release market.

A business development manager will also be recruited to focus on the central London area where KRS has seen a considerable increase in the level of referrals and subsequently number of partners.

Dean Mirfin, group director of Key Retirement Solutions, said: Our first priority is to make sure that we are always offering the right support to our existing partners in order to maximize the opportunities for all concerned.

In the current climate it is not surprising that many are now seeing the importance of the equity release market, and these two new roles are pivotal to securing additional partners for the group and ensuring the management of our existing relationships remains our top priority.