Non-institutional dealer group Beacon Financial Group has announced it will add the newly-launched DomaCom fractional property fund to its approved product list.
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 non-aligned financial advice sector.
“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.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 10:24Accountants continue battle for advice spaceBy Adrian Flores
- 10:24Netwealth recruits former BT managerBy Reporter
- 20 Sep 2018Independent advice will prosper but must be paid for: LovedayBy James Mitchell
- 21 Sep 2018Former ASFA policy advisor to boost FPA ranksBy Reporter
- 21 Sep 2018Aligned advisers in search of freedomBy Adrian Flores
- 20 Sep 2018Banned Perth adviser did not engage in dishonest conductBy James Mitchell
- view all