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GPS Wealth adds DomaCom Fund to APL

DomaCom has announced non-aligned dealer group GPS Wealth is the latest financial planning licensee to approve its recently launched property fund.

“[The] DomaCom Fund is reflective of our approach to financial advice, to deliver products that address the needs of our clients and help our advisers build their business,” said GPS Wealth chief executive Greg Holman.

“DomaCom have given property, particularly residential property, a makeover as a regulated investment product and also in terms of how property can be purchased and traded,” he added.

DomaCom chief executive Arthur Naoumidis explained its model is an intermediated solution that enables investors to choose the properties they want to invest in.

“We expect financial advisers will, independently or with the help of licensed property people, create private book builds for as many of their clients [who] want or need a property component” said Mr Naoumidis.

Mr Naoumidis indicated GPS Wealth has grasped the client and accountant engagement potential to drive its growth.

GPS Wealth now has over 70 authorised representatives in 44 practices which brings the number of advisers using the DomaCom Fund on their APL to 400.