FNZ supports real estate fintech in talks with advisory firms

Today (September 6), FNZ confirmed it had invested an undisclosed amount in Nokkel, a London-based fintech start-up that seeks to help people engage more with the assets tied up in their properties.

A spokesperson for Nokkel told FTAdviser that the firm spoke to a number of financial institutions about the dashboard and the layering of real estate capital in their holistic wealth offering.

Those institutions, they said, include wealth managers and advisers, as well as banks and insurance companies.

Nokkel is both a direct-to-consumer app and a portal that businesses – such as consulting firms – can link to in their own apps for customers.

The idea is to give homeowners greater visibility of their properties’ values ​​and help them understand the options this wealth gives them.

It is advertised as an “off-market” property portal to buyers, and to sellers as an opportunity to find buyers willing to pay a premium price.

FNZ UK managing director Adrian Durham said real estate was a “natural extension” of the technology firm’s holistic approach to providing wealth solutions to financial institutions.

“For many of us, our home is our most valuable asset – and one of the only assets where we can influence its value – and it shouldn’t be an afterthought to the portfolio,” explained Durham.

“By investing in Nokkel, we want to provide greater control and transparency over this asset – in line with what we have over our bank accounts, investments and pensions.”

Durham has given mixed signals about FNZ’s strategy. His company recently signed an agreement directly with advisory firm Fairstone to build it a new investment platform.

This prompted some in the industry to raise concerns that FNZ going direct with advisers would make platforms seem like mere “FNZ shopfronts”.

Following the deal’s disclosure, Durham said on LinkedIn that FNZ had “no intention of dealing directly with advisory firms”.

FTAdviser has approached FNZ to understand the strategy, but the firm has declined to comment.

This is how Nokkel works for advisers

Nokkel’s managing director, Roland Whyte, told FTAdviser that any financial adviser considering retirement planning should have a view of a client’s overall assets to advise on whether their client should, for example, withdraw the pension, release some equity in the property, or feel confident that they have enough income from the investment property.

“Similarly, if a client decides to sell their house or buy another one, then Nokkel provides advisers with insight and information,” said Whyte.

For example, this data can help manage the proceeds of a property sale, or if you’re buying, it can help ensure appropriate income protection is in place for a larger mortgage on a larger house.

Whyte added that Nokkel’s institutional solution provides consumers with a dashboard that advisors will have access to, along with an overlay screen that provides a summary and helps highlight triggering events where advice is required.