DomaCom partners with major bank


Investment platform operator, DomaCom has announced its partnership with one of Australia’s big four banks to launch a six-month pilot for fractional property investment.
The decision followed an earlier three month review process, it said.
Under the terms of the agreement, the bank would use DomaCom’s fractional investing model and, if successful, it could lead to a commercial deployment within the bank.
DomaCom’s chief executive, Arthur Naoumidis, said: “DomaCom has always been an intermediated business and has been seeking a large B2C partner for some time we are looking forward to progressing this pilot with the bank.”
Recommended for you
Lonsec and SQM Research have highlighted manager selection as a crucial risk for financial advisers when it comes to private market investments, particularly due to the clear performance dispersion.
Macquarie Asset Management has indicated its desire to commit the fast-growing wealth business in Australia by divesting part of its public investment business to Japanese investment bank Nomura.
Australia’s “sophisticated” financial services industry is a magnet for offshore fund managers, according to a global firm.
The latest Morningstar asset manager survey believes ETF providers are likely to retain the market share they have gained from active managers.