'Savvy' planners to benefit from property

While financial planners may have previously avoided property as an investment selection for clients, there is opportunity for “savvy operators” to benefit from moving into the property arena, according to PIPA chair Ben Kingsley.

“Any planner who can extend their service offering to property investor clients is going to be very well positioned to grow their business and enhance their bottom line,” he said.

Kingsley added there are “excellent” property conditions in parts of Australia, bringing a “new wave” of investment activity.

He said there has been an “abundance” of attractive home loans through rate cuts, combined with strong rental yields and low vacancy rates across many property markets.

Kingsley previously told ifa that PIPA does not view financial planners as having the skills and the training to give sound property investment advice, and is asking the industry to upskill and become a Qualified Property Investment Adviser (QPIA).

“A QPIA-accredited planner can offer clients a much more complete, much more holistic service, that can magnify their earning potential,” said Kingsley.

Financial planners can become a QPIA through PIPA’s Property Investment Adviser Accreditation course.