Larry McAnarney
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Mutual of Omaha Mortgage Announces New Strategic Relationship with Estate Planning Company to Grow Reverse Mortgage Business
Mutual of Omaha Mortgage announced a new strategic relationship with estate planning company ePIC Services Company with the goal of fueling growth in its reverse mortgage business.
The new alliance will allow the two companies to serve the same client base with complementary products. EPIC Services Company offers estate planning services directly to consumers and indirectly through financial advisors. The company provides services including creating a trust, establishing a power of attorney and setting up health care directives through its electronic platform.
“In the reverse mortgage industry, it’s not uncommon to work with customers who don’t have a trust or power of attorney set up, which can be the source of a lot of stress when it comes time to make important decisions,” said Geoffrey Wallace, Mutual of Omaha Mortgage Director of Strategic Business.
There are a lot of seniors and financial advisors who don’t know how a reverse mortgage can benefit individuals in retirement.
“The ability for two companies to provide symbiotic services to baby boomers through multiple channels is part of our overall strategic planning vision,” Wallace said. “This will allow us to expand education on the uses of reverse mortgage products as part of a comprehensive retirement plan for baby boomers.”
The new strategic relationship will allow the two companies to work on joint marketing projects together.