"Equity release will possibly be the fastest growing aspect of financial services in the years ahead as the demographics of the country change.
"If we get the basic foundations of advice wrong today, we leave ourselves wide open to accusations of it becoming poor advice in the future."
Concerns have been raised recently the equity release market could be heading for a capacity crunch as only about a quarter of advisers are authorised to give advice on the products, despite the fact the market had its busiest start to any year on record this year.
Although the growth of the market has slowed in the past year, the number of consumers releasing equity from their properties still increased by 6 per cent in the first six months of this year.
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