Property Investment Aussie’s – like no other nation on Earth – LOVE property. It is little wonder that everywhere you look on the internet there are self-professed Property Guru’s. Or even around the family BBQ if you mention property, you’ll receive an opinion from your well-meaning family and friends. But how do you know the advice you are getting is qualified & ensures that your interests are always put first?
The Fundamental Problem with Property Advice
The process of regulating property investment advice was extensively considered prior to the Financial Services Reform Act (FSR) being enacted in 2001. Despite property being a very commonly held investment asset class, it was found to not be a ‘financial asset’ and therefore excluded from the FSR legislation.
This regulation (or lack thereof) flows both ways, meaning that the professionals who operate under the FSR (who we also rely upon for financial advice – i.e. financial planners) are now unable to provide advice in most circumstances. In turn, the lack of regulation has opened the door for questionable business conduct to occur with limited protection to the customer.
Who can help me?
To fill the void the leading national body for Property Investment, PIPA (Property Investment Professionals Australia) have developed an accreditation program as an industry benchmark of knowledge and skills for individual investors and professionals in industries involved with property investment. To complete the accreditation and call themselves QPIA’s, a professional must deliver three things:
- Completion of the necessary formal training to practice property investment advisory.
- Uphold a strict code of conduct & meet specific PIPA guidelines
- Ensure that the client’s needs are always put first
What does a QPIA do?
The most simple explanation – a QPIA provides a personalised approach to help you make well-considered decisions during your property investment journey. From the outset they will seek to understand your reason for investing; your current financial and personal circumstances; and understand your risk profile.
Leveraging essential components, a Qualified Property Investment Adviser (QPIA) plays a pivotal role in crafting a robust, long-term property strategy spanning at least a decade. The primary objective is to methodically realize your aspirations in a sustainable fashion, substantiated by concrete evidence and sound reasoning.
Throughout the implementation of your personalized plan, a QPIA dedicates time to educate you comprehensively on pertinent facets of property investment. This includes enlightening you on potential risks, sustained expenses, and making insightful comparisons with alternative forms of investment. The aim is not just to guide you through the process but to empower you with a profound understanding of the intricacies involved.
In essence, the collaboration with a QPIA extends beyond mere planning; it is an educational journey fostering informed decision-making. By grounding your property strategy in evidence-backed reasoning and imparting essential knowledge, a QPIA ensures that your investment path aligns with your goals, paving the way for sustained success in the dynamic landscape of property investment.
How do I find a QPIA?
PIPA has a register of all the registered QPIAs in Australia, which is accessible by the public and can be used to search by location or keywords.
A QPIA will also have their accreditations listed on their website and in marketing materials – look for the PIPA or QPIA logo. Alternatively, you can simply ask your Property Investment Advisor to see their accreditations – an accredited Advisor will always gladly produce their certificates.