DomaCom integrates with IRESS

From

Arthur Naoumidis

Fractional property investment company DomaCom (ASX:DCL) announces that it has entered into an agreement to integrate its property sub-funds into IRESS (ASX:IRE) XPLAN via the EPI data feed.

On the DomaCom platform, properties are segregated into separate sub-funds issued with an APIR identifying code enabling financial advisers to include DomaCom sub-fund investments into their client portfolio reports.

Commenting, the CEO of DomaCom, Arthur Naoumidis, said: “When bringing a ground breaking platform like DomaCom to market it’s essential to align with key systems and processes to create a smooth transition to integrate into the adviser’s business process. IRESS’ XPLAN is the most widely used financial planning software and this integration will expose DomaCom to many more planners affording us the opportunity to demonstrate the value that it can bring to a planner’s role.

The integration is a significant development for DomaCom and recognition that our fractional investment model is gaining more acceptance across the industry. Where else can advisers achieve perfect asset allocation to the property asset class than in a fractional model like DomaCom, and we are the only model of our type”.

DomaCom say that advisers confront several issues in advising on property investment, key among them specific asset selection and PI insurance cover which generally precludes property advice. DomaCom say this can be avoided by engaging professional property advisers to short list suitable properties in much the same way as stockbrokers are engaged to construct equity portfolios.  The advice provided by the financial planner therefore is based on the DomaCom Fund, a Managed Investment Scheme, rather than on a specific property , which is selected by a professional property adviser.

The DomaCom Fund is currently on 44 AFSL Approved Product Lists that give access to the Fund to about 1200 advisers.

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