Spring opens door to debt-free property investments
Advisers within the Spring Financial Group will be able to offer clients multi-property residential portfolios through DomaCom's fractional investment platform, without having to use debt.
Spring Financial chief executive, Keith Cullen, announced the group's partnership with DomaCom, which will allow investors to its initial $25 million property portfolio for as little as $10,000, yesterday.
"We're excited to offer this opportunity to all investors, because for the first time a diversified portfolio of real property is available in much the same way as a model portfolio of equities might be offered," he said.
DomaCom chief executive, Arthur Naoumidis, said the fractional investment platform enabled advisers to offer their clients an opportunity to diversify their investments without having to borrow.
"Our recently developed multi-property book build functionality allows financial advisers to offer a direct property solution to their clients with immediate diversification across multiple properties, developers and locations," he said.
Under the initial offering, advisers will be able to provide their clients with access to "high-quality inner-city Melbourne and Brisbane residential assets" valued at around $25 million.
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
