The Elephant in the Room
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Episode 410: Ben Kingsley: Risky Advice on the Rise and the “Get Rich Quick” Comeback

Unlicensed property advice is thriving — and it’s putting investors at risk.

Across social media, unlicensed property spruikers and unqualified advisors are promoting high-risk deals disguised as education. From trust lending schemes and SMSF property setups to influencer-driven hype, these practices are fuelling speculative property investment and distorting market behaviour.

Ben Kingsley, Founding Managing Director of Empower Wealth and Chair of the Property Investors Council of Australia (PICA), explains how these unlicensed property advisors are eroding consumer trust while regulators like ASIC struggle to keep up. In his open letter to industry leaders, Ben warns of get-rich-quick schemes and fake independence masking risky advice.

From modern-day “pump-and-dump” tactics to loopholes in trust lending and volume-driven buyer’s agents purchasing sight unseen, this conversation exposes the systemic risks growing at the edges of the industry. Social-media hype, FOMO marketing, and easy credit are driving speculation that threatens long-term stability.

If you want to protect yourself from misleading advice and speculative investing, this episode is essential. Learn how to spot unlicensed property advisors, understand the red flags in property investment advice, and see why ethical, licensed buyer’s agents are key to restoring trust in Australia’s property market.

Episode Highlights:

00:00 — Why Risky Property Advice Is Back on the Rise

01:36 — Speculative Behaviour: The Return of Fast-Money Mindsets

02:25 — How Speculation Threatens Consumers and Market Stability

03:59 — Unlicensed Advisors and the Power of Social Media Influence

06:14 — Regional Market Distortions: When Buyer’s Agents Go Rogue

08:21 — Will ASIC Step In? The Push for Property Regulation

10:16 — The Role (and Responsibility) of Brokers and Buyer’s Agents

13:01 — What Happens Next: Ben’s Call for Industry Reform

32:06 — Rising Prices, Rising Pressure: The Human Cost of Property

33:51 — Regional Boom or Bubble? Understanding the Market Risks

36:41 — Property Prices vs. Fundamentals: When Growth Defies Logic

39:47 — Speculation vs. Strategy: The Long-Term Investment Divide

42:14 — Economic Viability: The Missing Piece in Modern Investing

49:00 — Building a Sustainable Property Business, Not a Hype Machine

52:41 — Owning Mistakes and the Power of Industry Accountability

54:26 — Final Thoughts: Restoring Trust in Property Advice

Links

Article: https://pica.asn.au/alarm-unlicensed-advice-market/

About our Guest:

Ben Kingsley is the Founding and Managing Director of Empower Wealth and the inaugural Chair of the Property Investors Council of Australia (PICA). A Qualified Property Investment Advisor (QPIA) and one of Australia’s most respected voices in property, finance, and money management, Ben has spent over two decades advocating for professional standards and consumer protection in the property investment sector.

A multi-award-winning advisor and frequent media commentator, Ben co-authored two bestselling books — The Armchair Guide to Property Investing and Make Money Simple Again — and co-hosts The Property Couch, Australia’s #1 property, finance, and money management podcast. Through Empower Wealth, Ben leads an integrated team of experts providing holistic financial advice across property, finance, tax, and wealth management.

Driven by his belief that “anyone can improve their financial outcomes, regardless of their starting point,” Ben continues to challenge industry complacency and push for responsible, transparent, and ethical property investment practices across Australia.

Connect with Ben

Resources:

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Chris Bates