Sentinel Private Wealth is set to add DomaCom’s fractional property fund to its approved product list (APL).
In a statement released by DomaCom, the property-focused fund manager said Sentinel has joined a “growing list” of licensees moving to approve the fund.
“Sentinel is a great example of the shift towards the independent market away from the aligned dealer groups, which is a strong market for us,” DomaCom chief executive Arthur Naoumidis said.
“We will work to support groups like Sentinel, to feed back business and help their advisers grow substantial property portfolios for their clients,” Mr Naoumidis said.
Sentinel compliance manager David Bertram said with a large number of accountants the firm's adviser group is “strongly orientated” to SMSFs for which property is an important asset class.
“Unfortunately it is also a very expensive asset to invest in unless debt is a good strategy, which it is not for everyone,” Mr Bertram said.
“We like that DomaCom enables partial investment so everyone gets the opportunity to have property in their portfolio,” he said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 18 Oct 2017AFA suffers budget blowoutBy Killian Plastow
- 18 Oct 2017ISA ups ante on governance lobbyingBy Aleks Vickovich
- 18 Oct 2017Managed accounts drive revenue: researchBy Staff Reporter
- 18 Oct 2017Midwinter and PractiFI announce integrationBy Staff Reporter
- 18 Oct 2017Hub24 announces partnership with EurozBy Staff Reporter
- 18 Oct 2017Former NZ PM joins ANZBy Staff Reporter
- view all