Proper piece of fishing equipment, we're told (4)
I believe the answer is:
real
'proper' is the definition.
(similar in meaning)
'piece of fishing equipment we're told' is the wordplay.
'piece of fishing equipment' becomes 'reel' (fishing reel).
'we're told' shows a homophone (sound like).
'reel' sounds like 'REAL'.
(Other definitions for real that I've seen before include "Happening in actuality" , "Lear, strangely, could actually exist" , "Actual, not imaginary" , "True" , "Actual; coin" .)