DomaCom has announced it has entered into an agreement to integrate its property sub-funds into IRESS to better align with the adviser business processes.
The company said that on its platform properties were grouped into separate sub-funds issued with an APIR code, aimed to enable financial advisers include the firm’s sub-funds into their client portfolio reports.
DomaCom’s chief executive, Arthur Naoumidis, said: “When bringing a ground-breaking platform like DomaCom to market it’s essential to align with key systems and processes to create a smooth transition to integrate into the adviser’s business process.”
“IRESS’ XPLAN is the most widely used financial planning software and this integration will expose DomaCom and recognition will expose DomaCom to many more planners affording us the opportunity to demonstrate the value that it can bring to a planner’s role.
“The integration is a significant development for DomaCom and recognition that our fractional investment model is gaining more acceptance across the industry.
According to the company, advisers confronted several issues in advising on property investment, with the key being specific asset selection and PI insurance.
DomaCom said this could be avoided by engaging professional property advisers to help short list suitable properties in the same way stockbrokers were engaged to construct equity portfolios.
The DomaCom Fund is currently on 44 AFSL Approved Product Lists that give access to the fund about 1,200 advisers.