PIPA In the News

01 Sep

Spot the Sharks

Unethical property spruikers are serious wealth hazards.  Australia's financial planning and mortgage broking industries have become more tightly regulated over the past 10 to 15 years.  The property industry, unfortunately, has not become more regulated ...

23 Aug

Advisor training won't stop crooks

Improvements to financial advisers' training and education will do little to weed-out potential crooks and could cause academic arbitrage as candidates shop around for the easiest assessment, warn industry insiders ...

25 Jul

Look at Property

In Series 7 Episode 5 of Look at Property, Ben Kingsley, the Chair of PIPA, talks to Julie McBeth about the property investment industry, PIPA's Code of Conduct, disclosure of commissions, regulation and searching for property professionals who are PIPA members:

Ben Kingsley Look at Property Screen Shot 

22 Jul

How much can I borrow

It’s a question all first home buyers ask themselves but how can you work out just how much the banks are likely to lend you? And more importantly, how much should you borrow to avoid getting in over your head?

In this video, PIPA chair Ben Kingsley reveals how to calculate your borrowing power and gives us a handy rule of thumb to use when crunching the numbers.

HBS How Much Can I Borrow Screenshot 

05 Jun

Sick of being labelled dodgy?

The misunderstandings of mortgage broking together with the actions of a few bad eggs have once again caused the third-party distribution industry grief.

An article published by Fairfax last month claimed that mortgage brokers are demanding commissions from developers and builders of up to 8 per cent for convincing clients to buy investment properties.

When The Adviser brought the article to the industry’s attention, it prompted a lot of discussion and many comments from brokers fed up with being lumped in with crooked operators.

As a genuine player in this industry, I know that the vast majority of us are professional operators, who strive to do the very best for our clients.

13 May

Unregulated advice driving SMSF set-up

A non-major bank has stated it sees the lack of regulated advice in the real estate sector as one of the “driving factors” behind consumers establishing SMSFs that are not appropriate for their circumstances.

In its submission to the Senate economics standing committe's Inquiry into the Provisions of the Corporations Amendment (Streamlining of Future of Financial Advice) Bill 2014, Bank of Queensland recommended the provision of advice on the purchase of property, other than for owner occupiers, be included in the definition of financial advice.

“Real estate purchases by consumers represent significant investments of wealth and almost always involve some element of debt. It is an anomaly that advice provided on such significant investment decisions is not regulated in the same way as advice on similarly significant investments,” the submission stated.

01 May

Flaunt what you've got

New research has reaffirmed that brokers are a firm favourite with property investors.

According to our recent survey of 800 property investors, almost 70 per cent say they have sought services from a mortgage broker.

The survey was conducted by Property Investment Professionals of Australia andThe Adviser’s sister title,Smart Property Investment.

This is great news and testament to the sterling service that third-party distributers provide.  Moreover, investors make for great, sticky clients, so our ability to appeal to this market is ideal.

24 Apr

Investment advice turns clients into 'raving fans'

New research has suggested that brokers are losing income by not offering or outsourcing property investment services.

A survey of about 784 property investors found that 69.3 per cent had dealt with a mortgage broker at some point, while 62.8 per cent planned to use a broker to help them finance their next investment.

The survey was conducted by Property Investment Professionals of Australia andThe Adviser’s sister title,Smart Property Investment.

24 Apr

Property investment advice demand surges

A survey of Australian property investors has revealed significant opportunity for retail financial advisers to become specialised in direct property advice.

Having surveyed more than 800 property investors,ifa sister title Smart Property Investment and industry body Property Investment Professionals of Australia (PIPA) found that more than 30 per cent of active investors are seeking professional guidance.

In addition, 59.7 per cent of respondents indicated they are taking a “long-term, strategic approach to property investment” signalling what PIPA chair Ben Kingsley describes as an “ideal service addition for financial planners”.

27 Mar

Fresh warning on SMSF licensing, property

The Property Investment Professionals of Australia (PIPA) has issued a caution to practitioners who are unlawfully giving SMSF advice.

Speaking toSMSF Adviser, PIPA chair Ben Kingsley said ASIC has made it “very clear” the association will use its powers to bring to account any party operating unlawfully.

“Furthermore, trustees of SMSFs are at real financial risk if they are taking any advice from anyone who simply doesn’t have the qualifications, licensing and skill sets to appropriately advise any SMSF trustee,” he said.

Mr Kingsley said PIPA is concerned practitioners, including mortgage brokers and real estate agents, may be talking to clients about setting up an SMSF to purchase an investment property.


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