Business News

DomaCom adds to property panel

Fractional property provider DomaCom today revealed it had added Justsuper to its collaborative partnership of service providers under the firm’s Property SMSF banner.

The panel, which includes the Self-Managed Super Institute, CST Corporate Solutions and Evolve Super Audits, enables fund establishment, administration and audit to be included in the property offering.

The DomaCom Property SMSF is a low-cost, entry-level SMSF service that nurtures young investors with a seed investment in property in an SMSF.

It was made available to SMSF trustees last July.

The collaborative service offered the convenience of a portable fund for young people building their careers and looking to get their foot on the property ladder with only a small investment to initiate it, DomaCom head of sales and marketing Warren Gibson said.

“The DomaCom Property SMSF is not so much a product but an online end-to-end business development solution that will help financial advises engage the gen Y and millennium demographic,” Gibson said.

Those groups typically understood property better than most other assets, which was why the asset choice was limited to fractional property interests and cash, he said.

By using efficient technology and legal structures, DomaCom enabled the Property SMSF panel to deliver SMSF administration and audit services at the minimum annual fee of $450, extending the reach of SMSFs to the next generation, Gibson said.

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