It is impossible not to feel deep empathy, sorrow and anger for the thousands of people caught in the growing trap of disreputable and dishonest advisers, fund managers and financial planners.
It seems almost weekly there is further news about bad advice, bad recommendations and disastrous outcomes for ordinary Australian households. People who simply put their trust in so-called professionals.
The fact that these schemes and services involve some of our biggest and once reputable institutions makes it even harder to understand. What’s plain to see, however, is that many people have had their financial dreams destroyed. The advice and wealth industries need to be cleared out and cleaned up.
It is little wonder that property is such a well known and accepted investment asset. Australians love property and we have one of the highest ownership and investment rates in the world.
Property is also an investment asset that is easy to understand, one that provides both capital appreciation and income. Important, it also offers the ability to borrow against and invest again.
Of course, I am biased, after more than 40 years analysing, buying and managing property for our clients, it’s hard to identify anything that can rival this asset class. Growing a property portfolio provides a strong and reliable backbone for solid and reliable long term wealth.