Property advisers provide link between financial planners and clients
Property advisers can provide a link between a financial planner and a client who wants to add property to their portfolio, according to Property Pursuit director Meighan Hetherington.
While financial planners may be skilled in advising clients to include property in their investment portfolio, they do not have the skills, abilities or licences to assist them with suggestions on what type of investment property to purchase, Hetherington said.
However, she said when a planner forges a relationship with a property adviser or buyers agent, it enables them to strengthen the relationships with their clients, ensuring their client is meeting all their financial planning goals.
Hetherington said a planner should provide the property adviser or buyers agency with relevant client information, including a risk profile and goals in order for the property adviser to find a suitable property.
“There is an interaction with the financial planner to make sure that we’re keeping on track with the plan that they’ve set in place with the client,” Hetherington said.
Another advantage for the buyer in working with a buyers agent is that they often have access to property that has not been marketed.
“We have developed a number of valuable relationships with local real estate agents who often don’t even get to market their listings because we already have a buyer lined up,” Hetherington commented.
Hetherington confirmed some planners sought a referral fee from the agent, however, planners who provide a fee-for-service “generally didn’t want any other sort of remuneration from a relationship with a buyers agent or a property adviser”.
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