Hi Everyone,
I was just wondering if anyone held any of these qualifications?
http://www.piaa.asn.au/accreditation
http://www.pipa.asn.au/Content.aspx?PKID=137
Do you find them useful, neccessary, relevant?
Does anyone have any information on what the new legislation will bring in regards to giving financial advice concerned with Property Investing?
Thanks,
PP
Hello PP,
Many people here will not respond to this as they believe they are above the law … there have been many threads regarding "advise" and qualifications … for more clarity call the department of fair trading in your state.
Also Tony Rizk at http://www.smartacademy.gov.au who is a licensed trainer call him
It is illegal for a real estate agent to give advise on investment property – that's why John McGrath doesn't do it because he abides by the law.
It is illegal for a mortgage broker or a finance company to sell real estate to their clients.
It is illegal for a person or company acting as a buyers group to sell investment property or source investment property without the proper authority.
It is elligal for a person standing on stage to give advise on investments without the proper qualifications.
"caveat emptor" look it up
The net is closing and I have as others have spoken of this in others areas of this forum … get a brain and get qualified so that you will have credibility and stand out in the pack.
I admire people like Peter Spann who began from humble beginnings and now is fully liciensed and compliant – if he can do it why not others, however most people are not up to Peters standards so chose your team carefully.
Also IPA investment property accreditation is coming in … TDFT have a huge list of people and companies POSING as "experts" giving advise …
News laws will be advised in August, and November this year … it's your choice who you align with and who you get advise from … ring the propery authorities and talk directly to them for the truth … good luck … yes I am qualified and I have been studing for over 13 years and hold several certificates.
Danielle.
Thanks for your reply Danielle.
Have you completed either course I mentioned?
My other qualifications allow me to attain this already …
Attain what? You're not making much sense…
As far as I know there is not yet any regulation covering Property Investment advice specifically.
It is also illegal for a mortgage broker (who is not PS146 compliant) to give advice when it comes to offset accounts and yet believe it or not it happens every day of the week.
I see so called advisers breaking the law and getting away with it so i am with wealth4life i hope they throw the book at the unlicensed guys on the block.
Only been in the industry for 25 years and have seen it all so nothing suprises me. What is a suprise is that clients still fall for the same old tricks and scams each and every time.
Richard Taylor | Australia's leading private lender
it seems you guys in the East are way behind us in the West…..as usual
All brokers are fully licenced in WA, well meant to be anyway.
so does that mean they already fit into the category of being compliant and allowed to give advice, etc?
Rudiga
Hate to say no.
A mortgage broker is not allowed to give any form of investment advice unless he is a Licensed Financial PlannerRichard Taylor | Australia's leading private lender
Richard, at the moment if you want to give Property Investment advice, what are you required to have? Just RG146?
At the moment Yes.
Richard Taylor | Australia's leading private lender
so confusing……i dont know how you guys keep up with it all
Plenty of red wine !!!!
Richard Taylor | Australia's leading private lender
So, nobody here holds these qualifications from PIPA or PIAA as they qualify you to do…nothing? At this stage anyway.
RG146 qualifications are the only requirement from ASIC if you want to provide financial investment advice.
Is that correct?
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