Property promotion
Austgrowth Property Syndicates has stepped up its efforts to market property syndicates to financial planners.
The property syndicator has increased its adviser commission to 4 per cent. In line with the commission increase, the group plans to offer advisers access to independent property valuers.
Managing director David Davies says the group will also provide advance briefings for selected advisers plus an allocation of shares.
Austgrowth currently manages $60 million of funds in property syndicates. About half of its funds come from advisers, a proprtion the group is keen to increase substantially.
Davies says many advisers have moved away from property syndicates following the 1987 market crash.
"We all acknowledge that the crash happened, but its also history that the market has long-since recovered and there hasn't been another decline like it since," he says.
Davies says at present property syndicates are particularly good in Sydney where in addition to a tax-advantaged high income, there is also a good prospect of strong capital growth.
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