Financial Planners/Advisors

Viewing 7 posts - 1 through 7 (of 7 total)

pfsfinance
Member
@pfsfinance
Join Date: 2004
Post Count: 171
April 29, 2005 - 8:28 am
I was speaking to a Financial Planner today and this was what I was told re Financial Planners and property.
“Financial Planners are not allowed by law to advise on Investment Properties and the only person allowed to advise on this are Accountants”
State Manager
Wholesale Mortgage Lender that deals only with brokers.
20 years in Finance Industry
brahms
Participant
@brahms
Join Date: 2004
Post Count: 485
April 29, 2005 - 9:19 am
probably not histories the first pointless conversation with a financial planner …
cheers
brahms
Purveyor of Fine Finances
aka Mortgage Broker Brisbane
Salubrious
Member
@salubrious
Join Date: 2004
Post Count: 252
April 29, 2005 - 11:03 am
Financial planners can advise on a variety of invesment options. What they do have to adhere to by law, is advice on the risk potential.
We are all made from Stars.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
May 2, 2005 - 3:59 am
I am not sure this would be correct. I think anyone can advise on property even without qualifications.
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
May 2, 2005 - 4:10 am
A financial adviser cannot give advise on anything they are not qualified to give advise on. To give ‘PROFESSIONAL’ advice requires adhering to regulatory requirements and is very different to providing ‘GENERAL’ advice in a forum like this. Anyone can give general advice but people go to planners and advisers for professional advice.
I have never seen an adviser legally advise a client on which property to buy or sell or when to do so.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.au

Investor Links
DD
Member
@dd
Join Date: 2004
Post Count: 508
May 2, 2005 - 9:54 am
I present properties to people and give them access to services such as building and pest reports and solicitors at discounted prices.
They decide on what suits them and I always suggest to do further research on the area and property details.
I act as a buyers agent for property and show my Financial Planning certification only to be clear to my clients that I have completed the training and assesment required. I do not act as a financial advisor when dealing with property deals as without a full fact find and hours of face to face discussions on several occasions, it would be a breach of the ASIC guidelines for me to offer a full financial advice service.
Be careful of free advice from anyone as it usually means someone else is paying them to market products and services to you.
Just be cautious and all will be well.
Now go out and buy more houses [cool3]
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
May 2, 2005 - 11:00 am
Originally posted by DD:
Be careful of free advice from anyone as it usually means someone else is paying them to market products and services to you.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!
Or it may be that legislation prevents them from charging for their services when it applies to consumer lending. I guess you are not familiar with rules applying to mortgage brokers / advisers.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.au

Investor Links