Wealth and fintech platform, Nokkel, has become the latest firm to join the Equity Release Council.

The trade body for the equity release market exists to promote high standards of conduct and practice in the sector by highlighting consumer safeguards.

Nokkel’s platform uses technology to provide advisers and their clients with a clear picture of an individual’s property portfolio, including real time residential property information, to improve financial wellbeing.

By joining the Council, Nokkel said it is seeking to broaden the understanding of house equity’s role in retirement planning and provide the tools to capitalise on it. As part of this, Nokkel revealed that it is also looking to work with the wider later life lending industry to make it easier and more effective to make use of property wealth in retirement.

“We are proud to join the Equity Release Council, uniting with top-tier industry professionals to foster innovation in later life lending and wealth technology,” founder and CEO of Nokkel, Roland Whyte, commented.

“This collaboration is a cornerstone of our mission, to combine technology and data to democratise property wealth and offer a vital resource to those in or approaching retirement.”

CEO of the Equity Release Council, Jim Boyd, added: “Up to half of a retirees’ total wealth is made of residential property so it is vitally important that as an industry, we consider how we can allow for better comparison across the various asset classes.

“We are therefore delighted to welcome Nokkel as the newest member of the Equity Release Council and fully support their ambition to work with the wider industry to make it easier to consider housing equity as part of retirement planning.”

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