The

Alliance
of
Comprehensive
Planners
(ACP),
a
trade
association
for
financial
planners,
will
be
holding
its
annual
conference
this
October
in
Savannah,
Georgia,
and
the
event
will
feature
two
of
the
nation’s
leading
reverse
mortgage
lenders
as
key
sponsors.

Plano,
Texas-based


Finance
of
America
(FOA),
currently
the
industry
leader
in
the
reverse
mortgage
space,
and
Paramus,
New
Jersey-based
reverse
mortgage
lender
and
servicer


Longbridge
Financial
will
be
sponsoring
the
event.
The
ACP
annual
conference
is
primarily
designed
for
“tax-focused,
fiduciary
financial
advisors
who
provide
comprehensive
wealth
building
strategies
for
their
clients
on
a
commission-free
retainer
basis,”
according
to
an

announcement
of
the
event.

A
full
agenda
has
not
yet
been
released,
but
keynote
speakers
include
financial
planning
professionals
who
will
speak
about
business
topics
relevant
to
the
profession.
The
organization
said
it
expects
“over
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
conforms
with
a
stated
desire
across
the
industry
to
cultivate
more
solid
and
productive
referral
relationships
with
financial
planner
professionals.
These
professionals
are
a
key
constituency
that
reverse
mortgage
industry
members
believe
can
help
to
cultivate
new
business
opportunities.

At
The
Gathering
by

HousingWire
this
past
April
in
Scottsdale,
Arizona,
FOA
President
Kristen
Sieffert
suggested
bringing

more
financial
planners
up
to
speed
on
reverse
mortgage
product
mechanics.

She
felt
these
professionals
could
potentially
advise
their
senior
clients
about
the
use
of
a
reverse
mortgage
to
protect
against
sequence-of-returns
risk,
where
a
reverse
mortgage
line
of
credit
is
tapped
in
times
of
market
volatility
until
an
investment
portfolio
stabilizes.

FOA
has
also
performed
outreach
to
financial
planners
through
its
vice
president
of
retirement
strategies,
Steve
Resch.
He
recently
told
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
advisers
to
really
learn
and
understand
the
products
for
them,
to
meet
groups
of
people
to
talk
with
elder
care
attorneys
or
real
estate
agents,
many
of
those
are
local
conversations,”
Mayer
said.
“And
to
be
able
to
have
that
kind
of
impact,
you’ve
got
to
have
people
around
the
country
who
are
able
to
[…]
have
people
who
can
have
those
on-the-ground
conversations.”

According
to
Home
Equity
Conversion
Mortgage
(HECM)

volume
data
compiled
by


Reverse
Market
Insight
(RMI),
FOA
maintained
the
first-place
position
among
the
nation’s
reverse
mortgage
lenders
with
7,784
endorsements
in
the
12-month
period
ending
May
31.
Longbridge
was
No.
3
with
2,972
endorsements
during
the
same
period.

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