The PIPA Code of Conduct
Anyone can say they act in your interest. PIPA members sign something that says so.
Property investment advice is unregulated in Australia. The Code of Conduct is the instrument that makes a PIPA member accountable anyway: what they must disclose, the standard they must meet, and what happens if they fall short of it.
- 5core values
- Everymember signs it
- 3 yrsreview cycle
- Externaldispute resolution
The Code applies to every person acting on behalf of PIPA: members, board, regional councils and committees, employees, consultants and contractors. It is reviewed every three years to keep it current, and it is enforced through a published process rather than a promise.
If a member has not disclosed a commission to you, that is not a matter of opinion. It is a breach of a document they signed.
The framework
Five values, and what each one obliges.
The Code sets out five core values. These are not aspirations. Each one carries specific obligations a member can be held to.
Professional development
Qualified, and staying qualified.
Members hold a qualification equal to or better than the Property Investment Advising course, and commit to continuing professional development. Standing still is not an option the Code allows.
Leadership
The standard is upheld in public.
Members observe the highest standards of professional conduct when acting for a client or on behalf of PIPA, comply with Australian law, and avoid any behaviour that would bring the association or the sector into disrepute.
Disclosure
Every fee, in writing, before you decide.
Members disclose all fees and commissions in writing, including commissions, payments, kickbacks and soft or hard dollar rewards. Conflicts of interest are disclosed to the client as soon as the member becomes aware of them.
Respect
Competence, diligence and confidence kept.
Members act in the client’s best interests with due skill and care, keep client information confidential, and treat individuals and the wider community fairly.
Integrity
Honestly, honourably and in good faith.
Members deal honestly with everyone they encounter professionally, set out terms in plain language, and must not engage in conduct or advertising that is misleading, dishonest, deceptive or fraudulent.
The commitments
What you can hold a member to.
The obligations that matter most to someone taking advice, grouped by the question they answer.
Money
- All fees and commissions disclosed in writing
- Commissions, kickbacks and soft dollar rewards included
- Conflicts of interest declared as soon as they arise
- Financial interests declared to other members in a transaction
Competence
- Qualification at or above the Property Investment Advising course
- Continuing professional development through PIPA
- Professional indemnity insurance maintained at all times
- Staff and associates knowledgeable in their areas of practice
Conduct
- No misleading, dishonest or deceptive acts or advertising
- Terms of service in plain language
- Client information kept confidential and secure
- A written complaints process given to you at the first meeting
If a member falls short
A code without a process is a poster.
PIPA publishes how a complaint is handled, because an accountability mechanism nobody can see is indistinguishable from one that does not exist.
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You raise it
A complaint can be made in writing. If you would rather not put it in writing, the person you raise it with must record the details themselves.
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It reaches the Conduct Officer
A board member serves as PIPA’s Conduct Officer and refers alleged breaches to the Conduct Committee, which is chaired by the Conduct Officer and includes a member of the executive and the General Manager.
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Both sides are heard
Complaints are evaluated according to the principles of natural justice. The member is told the substance of the complaint and given a proper opportunity to respond before any finding is made.
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It is resolved
Matters with a case to answer go to the Disciplinary Committee under the PIPA Constitution. PIPA also appoints an external dispute resolution agency to arbitrate independently, and an appeals route exists.
Optional download
Take the full Code with you.
The complete twelve page document, exactly as the board approved it, including the constitution references, the compliance obligations and the full complaints procedure. Everything on this page is drawn from it.
Tell us where to send it and it arrives in your inbox. Nothing on this page is hidden behind the form: the Code is published in full above.
Raise the standard, or find someone who already has.
Join PIPA to be held to a professional standard your clients can verify. Or tell the PIPA team what you need and be matched with an accredited adviser.