More than nine out of 10 financial advisers believe property wealth should be a key consideration when giving Financial Planning advice, according to a survey published by a property wealth platform.

Fintech Nokkel partnered with global wealth management platform FNZ to publish the research by PR agency and financial consultancy Lang Cat.

It suggested that more than nine out of ten advisers believe retirement advice specifically should include property wealth.

The research was published against the background of The Pensions Policy Institute’s 2021 report, ‘What is an adequate retirement income?’, which found that 5m people were heading for retirement without adequate pension income.

Almost every adviser interviewed for the study said they gathered housing wealth information as part of the fact-finding process of advice.

But while the information is viewed as essential to building a holistic wealth picture, it is used inconsistently for wealth gains, the report said.

Nokkel said the advice industry needs to change its outlook and make house wealth considerations a key part of retirement planning for clients.

Roland Whyte, founder of the property wealth platform, said: “House wealth needs to become more of a focus for advisers when they plan for clients, especially in light of the now-live FCA Consumer Duty and the upcoming retirement income thematic review, which will only make house wealth more relevant to financial advice.”

Mark Polson, founder of the lang cat, said: "It makes no sense to not build housing wealth into a client's financial plan. The industry is still too siloed in this regard, though it is better than it used to be.”

Nokkel is a fintech company offering a mobile app available to owners and buyers that consolidates property market information.