Time to drive the ‘spruikers’ out of investment property: DomaCom
Regulation of the investment property sector will help financial planners to push spruikers out of the area and provide clients with more protection, DomaCom believes.
DomaCom head of sales and marketing, Warren Gibson, called on planners, accountants and mortgage brokers to get behind the drive to regulate the sector by joining the Property Investment Association of Australia (PIAA) or Property Investment Professionals of Australia (PIPA).
Gibson said regulation of the sector would enable planners with qualifications from bodies such as the PIAA and PIPA to attract new clients and to provide quality advice to customers, while driving out "the spruiker element".
"If financial planners, accountants and brokers support these bodies and gain the credentials being offered they can increase their client reach extend their revenue potential and bring property into a regulated space," he said.
"This will help protect their client base and deliver better outcomes."
Gibson said that regulation would improve the image of the property investment sector at a time when concerns were being raised about the appropriateness of self-managed superannuation funds (SMSFs) investing in property.
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.
