Fractional property investing platform provider DomaCom has launched its Foundation Partners Program with the signing of three financial services organisations.
“We are delighted to welcome our first group of partners into the DomaCom Foundation Partners Program who will work with us on developing a sustainable fractional property investing model that will have significant positive investment and social implications,” DomaCom chief executive Arthur Naoumidis said.
“The first group of firms have a total FUMA (funds under management and administration) of approximately $1.5 billion and include Lifespan Financial Planning, Grosvenor Pirie Management as well property advisory firm Blue Wealth. We are receiving expressions of interest from across the industry and we look forward to welcoming other firms interested in joining this group.”
The initiative has only been made available to financial planning organisations or accounting firms that are independent and employ fee-based remuneration models.
The goals of the business partners should include helping their clients acquire property or releasing equity from current property holdings.
“Foundation partners will need to commit to being a consultative partner, a media partner and to participating in focus groups to support the fractional ownership model. In return, DomaCom will provide a number of benefits including branded, advert free access to the DomaCom GPS (Guided Planning System) financial planning system,” Naoumidis said.
“In addition, DomaCom is creating an equity participation model for our foundation partners, to be announced in the coming months.”
DomaCom launched its fractional property investing vehicle in May and announced the release of its GPS financial planning system last month.
