Released on: 02-Aug-2012
PIAA is seeking to take the real estate component out of Property Investment Advice and through the provision of PI insurance meet advice professionals such as Financial Planners with support for their clients with this unregulated product.
FOFA offers the Financial Planner the opportunity through their SOA to allocate capital to property, as an asset class, and then engage a Property Investment Advisor to support the client’s best interests through a property investment strategy. Included in this service is a standardised, advice-based, representation of information about property and its potential performance. This is created to support a foundation of realistic and transparent comparison of opportunities as opposed to the puffery of real estate claims.
Business fees for advice, or real estate services provided are on the table for FInancial Planners to participate in and fall inside their compliance framework.