Beacon planners gain access to DomaCom
The DomaCom fractional property fund has been made available for recommendation by financial planners licensed by non-institutional group Beacon Financial Group.
In a statement issued on Friday, Beacon chief executive Peter Daly said the “innovative’ DomaCom Fund will have benefits for his adviser network and their clients".
“We believe the innovative DomaCom Fund is reflective of our own approach to financial advice, to deliver products that address the needs of our clients and that help our advisers progress their businesses,” Mr Daly said.
“It is a sound product that has brought a modern technology solution to an old and trusted asset class that is well known and understood by most investors, but often difficult to access because of its high cost.”
DomaCom chief Arthur Naoumidis said the move is reflective of the growing interest in the product among smaller financial planning groups.
“IFAs such as the Beacon Financial Group are our target market because the Fund caters for their business model as well as providing a foil to the property marketers who until now have been picking off investment clients wanting some property exposure,” Mr Naoumidis said.
“These firms are able to adapt quickly to new opportunities, to adopt protective strategies for their clients and, in this case, for their business, against predatory property spruikers.”