Key Retirement Solutions, an independent financial adviser engaged in equity release, has hired Terry Pritchard as the new managing director of key partnerships.

Due to the increase in the number of referrals Key Retirement Solutions receives from independent financial advisers, brokers and other third parties, Mr Pritchard will take full responsibility for the referral business ensuring that both new and existing partners are provided with the support to stake their presence in the equity release market.

Dean Mirfin, business development director, will continue to work closely with Mr Pritchard while taking on a more active role at group level, to support the growth and strategy of the business as a whole.

The company has said that Mr Pritchard has previously set up a number of companies and is known in the mortgage market for his relationship-building skills.

Colin Taylor, CEO of the Key Retirement Solutions Group, said: The appointment of Pritchard is testament to our commitment to provide the highest level of support to both existing and future clients to maximize the opportunities for all involved. We have spent some time looking for someone to fill this role and we are delighted to have someone of his caliber on board.