Stuart Wilson, director of Equity Advice, explained that the high-risk perception of the sector was 'undeserved.'
“In order to avoid risk, advisers simply need to be good at what they do," he said.
"This is the fastest changing sector in the industry and it is important that brokers keep up-to-date with them. The opportunities in the market cannot be underestimated.”
Wilson pointed out that in 2007 there had been a 208 per cent increase in people taking out an equity release product in Northern Ireland compared to 2006 figures.
On top of this, the value of borrowing showed an increase of 305 per cent over the same period.
The number of equity release providers has also grown from three in 2006 to eight in 2007, including two imminent launches. However Wilson said this was not enough.
Chris Cummings, director-general of the Association of Mortgage Intermediaries, agreed that equity release should take on a greater importance amongst advisers.
