Nokkel & FNZ study finds adviser attitudes are shifting.
For many people, the equity in their homes represents a significant, if not their largest, pool of savings. However, accessing the equity in a home for nonhousing uses has difficult history. There have been cases of vulnerable people being sold inappropriate, high-cost options, often resulting in poor outcomes for end-clients.
These two facts – that homes are a significant savings vehicle, and that current practices are leading to poor advice – seem like a call to action for the wealth management industry. If home equity could be better integrated into a holistic financial plan, with trusted advice provided, then would this situation shift?
Nokkel and FNZ explored current UK adviser attitudes toward integration of house wealth in financial planning, partnering with the lang cat. The resulting report includes commentary on Consumer Duty based on input from the lang cat’s Director of Public Affairs.
Download the full report to read how advisors in the UK responded.