Business News

DomaCom strengthens SMSF focus

Chris Benson has joined the sales team of fractional property investment manager DomaCom, taking on the role of Victoria and Tasmania state manager.

Benson will be responsible for growing traction in the southern regions of Australia for the firm’s Fractional Property Investment Fund.

“We’re very pleased to secure someone with Chris’ background, particularly his knowledge of the SMSF market,” DomaCom sales and marketing general manager Warren Gibson said.

“Chris’ appointment comes at a critical time for DomaCom, with investors’ growing appetite for property feeding into financial planning practices.

“Sales has taken the focus with 15 AFSLs having given DomaCom the thumbs-up and another 30 in waiting.

“Chris will be a great asset in helping convert these and building DomaCom’s funds under management.”

Benson brings in excess of 30 years’ financial services experience to the manager, having previously held roles with responsibility in funds management, superannuation, wealth management and financial planning.

Most recently, he was strategic business development manager with AMP SMSF and is a current review commissioner with the Financial Planning Association.

The appointment reinforces DomaCom’s attention to the SMSF market, with its fractional property investment fund being added to the approved product list of Sentinel Private Wealth at the same time.

“With a large proportion of accountants, our adviser group is strongly oriented to SMSFs, for whom property is an important asset class,” Sentinel Private Wealth compliance manager Chris Bertram said.

“Unfortunately, it is also a very expensive asset to invest in unless debt is a good strategy, which it is not for everyone.

“We like that DomaCom enables partial investment so everyone gets the opportunity to have property in their portfolio.”

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