Opes
6 min read
Author: Dennis Schipper
Financial adviser for 3+ years. Helped nearly 500 Kiwis buy property.
Reviewed by: Louis Fraysse
Louis is a registered financial adviser with an MBA from Massey University.
If you work with a financial adviser at Opes Partners, you’ll get:
And here’s the bit that might surprise you – you can pay Opes Partners $0 for the financial advice.
So, what’s the catch? And how does it all work?
Opes Partners has been operating since 2013. Over that time we’ve helped nearly 12,000 clients build a Wealth Plan.
In this article I’ll walk you through the 6 things you get when you work with Opes Partners. That’s everything from the Wealth Plan and property checks to the support you get once you’ve bought.
Our article: Who is Opes Partners? explains more about who we are, how the wider Opes Group works, and how the business is structured.
The first thing you get isn’t a property recommendation; it’s a financial plan.
When you work with Opes Partners you speak to a registered financial adviser. They look at where you are now financially, and where you want to be in the future. Then they will assess if investing in property can help close the gap (if there is one).
As part of this your financial adviser creates a Wealth Plan around your goals.
That matters because there isn’t one property that’s automatically the “best” investment.
A property that suits someone focused on capital growth may not suit someone who wants more rental income.
Your financial adviser will also consider:
Your adviser uses that information to work out what sort of property investment strategy could fit your situation.
You then walk away with a 19+ page document that outlines your plan.
Our article: What is a Wealth Plan? explains more about how the process works.
Before investors even see properties, the Opes Property team has already put it through the Opes 23-step checklist. This is to work out whether it stacks up as an investment.
We look at things like:
Of course, you should still do your own research.
But the difference with Opes is that Opes Property has already done a lot of the research before you even see a property.
| What gets checked | With Opes | If you invest yourself |
| Opes Partners’ 23-step checklist | Completed | You do your own due diligence |
| Property research | Opes team does most of the research | You do all research yourself |
| Affordability | Adviser assesses your position | You figure it out on your own |
| Value for money | Opes Property assesses the property | You make your own assessment |
The difference is who does the groundwork.
When you choose Opes you don’t have to find a property first and then work out whether it stacks up; our team does the initial research before recommending it.
Some New Builds advertised directly by developers don’t include everything you need to get the property ready to rent.
These can be things that seem obvious. Some developers leave out curtains and blinds, a letterbox … or even a driveway.
When Opes Property negotiates with developers they try to achieve a fixed-price with all the agreed fit-out included:
| What’s included | With Opes | If you buy yourself |
| Agreed fit-out | Included | Check the contract |
| Letterbox | Included | Check the contract |
| Landscaping / outdoor area | Included where applicable | Check the contract |
| Kitchen appliances | Included | Check the contract |
| Heat pump | Included | Check the contract |
| Driveway | Included | Check the contract |
| Drapes/blinds | Included | Check the contract |
| Clothesline | Included | Check the contract |
| Boundary fencing | Included | Check the contract |
| Fixed purchase price | Agreed upfront | Depends on the contract |
I’m not trying to say that you can’t check these things yourself. You potentially can, but there can be lots of ‘gotchas’ in property investing. And if you don’t know … you don’t know.
That’s why when you use Opes we aim to make it very clear what is and isn’t included. We want to limit surprises that might come later.
You’re not just investing in a property: you’re also relying on the developer to deliver it.
Before recommending a property, Opes Partners puts the developer through an 8-step vetting process.
The checks cover the developer, the people behind the business and the development itself.
| What gets checked | With Opes | If you invest yourself |
| Developer due diligence | Completed by Opes | You do your own checks |
| Directors and shareholders | Checked | You investigate |
| Previous projects | Checked | You investigate |
| Builders and contractors | Checked | You investigate |
| Development funding and financial viability | Investigated | You investigate |
| Anti-money laundering checks | Completed | You arrange your own checks |
| Internal risk assessment | Completed | You make your own assessment |
If you buy directly from a developer you can still do these checks yourself. You can look up the company, investigate its directors and ask questions about how the development is funded.
The difference is that you’re responsible for finding that information and deciding what it means. That’s the hard part.
If you have an issue with a developer or a property we recommended, you can ask us to help solve it.
Whereas if you go directly to a developer, if something goes wrong you’ll need to work directly with them yourself.
Buying a New Build property involves more than signing a sale and purchase agreement and waiting for the keys.
As construction progresses you’ll have lots to keep track of e.g. build updates, inspections, valuations, insurance and settlement dates.
That’s where your Client Relationship Manager (CRM) comes in.
Your CRM helps coordinate the process and keeps you updated. Your financial adviser and the wider Opes team can also support you along the way.
| What you get | With Opes | If you invest yourself |
| Introductions to other professionals (lawyers, accountants, property managers) | Yes | You arrange these |
| Build updates and key dates | CRM chases the developer for information | You chase the developer for information |
| Building inspection | CRM helps organise this | You organise it |
| Chattel valuation | CRM helps organise this | You organise it |
| Pre-settlement inspection | CRM helps organise this | You organise it |
| Checklists and guides | Available through Opes+ | You find your own |
When you invest in a property through Opes Partners you’ll get access to a portal to keep track of build updates.
This happens inside Opes+, and you can find extra information and checklists all in one place.
The CRM’s job is to keep the process moving, which means you don’t have to coordinate every detail yourself.
And your relationship with Opes doesn’t stop when the property settles.
Once you own the property you may still need help getting it ready for tenants as well managing the rental and reviewing your investment strategy.
That’s where the wider Opes Group can continue to help.
| What happens after settlement | With Opes | If you invest yourself |
| Getting the mortgage | Help available from Opes Mortgages | You arrange it |
| Property ready for tenants | Support available from Opes Property Management | You arrange it |
| Property management | Available from Opes Property Management | You arrange your own manager |
| Tenant support | Available through Opes Property Management | You arrange it |
| Tax returns | Help available from Opes Accounting | You find your own accountant |
| Questions about your investment | Opes team can provide support | You find your own support |
So the support doesn’t have to end when you’ve bought the property.
You can continue to use the relevant Opes teams as you manage the property and work towards your wider investment goals.
It’s possible to invest in property without Opes. You can:
But often investors choose Opes because they want to make property investing easy. They don’t want to have to do all the grunt work themselves.
And they want people with experience doing the research and figuring out what it all means.
You normally pay Opes Partners $0 for its financial advice.
If you go on to buy a property recommended by Opes, the developer pays an agency fee to Opes Property. Opes Property then pays a portion of that fee to Opes Partners.
The fee is a flat amount based on the property’s location rather than a percentage of the purchase price. So the fee doesn’t increase simply because you buy a more expensive property.
Opes Partners’ financial advisers are primarily paid a salary rather than a percentage commission on the property you buy.
Our pricing page has a full breakdown of our fees. You can also read our article: Why does Opes charge $0? to learn more about how the business is paid.
Your first step is to book a Portfolio Planning Session. This is where you sit down with an Opes Partners financial adviser (usually on Zoom) and create your Wealth Plan.
You start by looking at your finances, your goals, and what you’re hoping property investing will achieve for you.
If it’s a good fit you can move on to reviewing properties in your second meeting.
There’s no obligation to go on to look at properties once you have your Wealth Plan.
Your next step is to book a portfolio planning session. This is where a financial adviser will create you a financial plan. They will then find properties that fit your plan.
Book your free sessionFinancial adviser for 3+ years. Helped nearly 500 Kiwis buy property.
Dennis joined the Opes Group back in 2017, and he’s now one of the longest-serving team members. He’s met with thousands of Kiwis to talk about their financial goals and has helped close to 500 of them become property investors.
This article is for your general information. It’s not financial advice. See here for details about our Financial Advice Provider Disclosure. So Opes isn’t telling you what to do with your own money.
We’ve made every effort to make sure the information is accurate. But we occasionally get the odd fact wrong. Make sure you do your own research or talk to a financial adviser before making any investment decisions.
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