Empower Wealth experiences?

I'll wait and see to hear a response
I have purchased properties X2 and have major reservations so I understand

 

As much as I love Bryce and Ben on the podcast I was a little bit underwhelmed with the broker service. I had an initial discussion which seemed to go well and then when I provided the required info so I could get a pre-approval I got no response. Which things sometimes get missed so I wasn't bothered but I then sent messages to follow up and got no reply so I gave up.

I also had my sister contact them earlier this year with a small but still decent deposit (around 30k) and she was told to come back in four years

 

Sounds like they are struggling with their back log of clients due to the success of their podcast

 

There are plenty of great brokers on the forum if you want a more responsive service. Nothing against EW...but lack of communication is crap no matter who you're dealing with.

 

Their were reasons to go to the one stop shop so everyone was communicating ( Mortgage Broker, Buyers Agent, Strategy Planner, Financial Planner) May have to review all

 

Were you happy with any of the team?

Sometimes it can be just one bad egg - if there were good players, you might be able to replace just the problematic ones and not have to start again from scratch.

But if the whole experience was a bit sub-par, there’s no harm in a full review.

 

Update: We have been experiencing high levels of demand for all of our services currently, as household recognise that just like in medical circles, their are great doctors/specialists, who from time to time, it does take a bit of time to book in and get access to these high performers. We are a little bit like that at the moment.
That said we are open to help more household financially transform. We have recruited another 5 staff for our mortgage team (always looking for investment savvy brokers) who start first week of June. We are also expanding our BA team as well, as they are buying some great properties at this time.

 

No excuse for not communicating to at least say there are wait times :/

Arrogance is not a good look imo

 

Comparing yourself to specialist medical professionals hahaha thanks for the laugh Ben!

 

Hi, we are vic based couple aged around ~40-45 years couple with a house and couple of investment properties but still consider ourselves 'novice' property investors. We are contemplating whether or not to use Empower Wealth for buying our next investment property but their service starts with a plan of ~$5K and then buyers agent service for another ~$13K. We are quite conservative investors and may buy 1 property in the next couple of months and may be buy another one in a years time in the same state we live in and may be will buy no more. Could you please provide your knowledge/experience around : (1) Do Empower Wealth provide buyers agent service without a plan as well or do we need to spend the $5K for the plan? (2) Is the plan worthwhile by paying $5K (3) Is their buyers agency worthwhile?

 

What are you specifically hoping that they will do for you? I’m sure you can use their BA without the plan. Some of my clients have used EW previously.

 

Thanks Jess. I think the plan will assist us to understand our financial health and suggest an approach for us.

 

Most brokers will do this for you and not charge for it, some great brokers responded to you already...

 

Hi @tamu , you can use BA services without the plan as well.
In terms of plan, it is good as it will project your finances for next 40 years to you with actionable items. But a big assumption here would be that everything will happen in life as planned. For eg :
1. Job security
2. Interest only loans for lifetime
3. Capital growth assumed for IPs will remain that much or increase.
4. You are not moving to any other country.
5. No unplanned children

There could be more factors as well. But I could list only above. So any deviations would not let you follow the plan step by step.

In terms of BA service, it is kind of OK. May be I was expecting a bit more as EW is a big name with their podcasts. But I did not find any added value on my purchase. By value add I mean, finding a property a bit different from usual market properties, with some character style or buying below the market price, using networks to find something off the market etc....

 

That is a major flaw in my opinion and makes it pretty much worthless after year 2 if they aren't continually tweaking it (or giving you the wherewithal to do it yourself).

 

Mmm... Could be a big thing to ask, especially during lockdown period like this in Melbourne.

 

Hi Ben let's get in touch