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.
MLC Life has appointed the former CFO of AMP Bank as its new deputy CFO as it sees a period of “significant change” for the industry ahead. ...
Mayfair 101 founder James Mawhinney has been restrained from a number of activities following a Federal Court ruling. ...
One of Australia’s largest licensees says it is facing a crisis as risk advisers exit the industry, with its annual life insurance new business drop...