Fractional property investment provider DomaCom has boosted its distribution reach to nearly 400 planners after signing with a planning group with more than 70 authorised representatives.
DomaCom chief executive Arthur Naoumidis said Queensland based GPS Wealth had added DomaCom’s fund to its approved product list and will train GPS Wealth advisers in the use of the fund.
Planning groups who make use of the fund are required to complete a short accreditation training program beforehand which is being paid for by DomaCom and provides planners with 4.25 continuing professional development points.
DomaCom first launched two years ago and has been added to the approved product list of the Beacon Financial Group and the research list of Lonsec and the Association of Independently Owned Financial Planners.
GPS Wealth chief executive Greg Holman said the DomaCom fund had “given property, particularly residential property, a makeover both as a regulated investment product and also in terms of how property can be purchased and traded”.
Naoumidis said planners would be able to include the fund under fee for service models given its managed investment scheme structure while also being able to build a book of property investments for clients.
