The AFR’s Duncan Hughes has penned a disturbing article on how property developers are exploiting a regulatory loophole that excludes property as a financial product to offer massive commissions to accountants, financial advisers and mortgage brokers for recommending property to their clients. According to Hughes, these commissions are in some cases totalling more than 8%:
“There are a lot of people masquerading as financial advisers who are fundamentally accountants or mortgage brokers [Paul Moran, principal financial planner with Moran Partners, said]…
