SuperConcepts partners with DomaCom for SMSFs
AMP-owned self-managed superannuation fund (SMSF) administration solutions provider, SuperConcepts, and investment platform administrator, DomaCom have announced a partnership to provide SMSF trustees and their advisers easier access to property investments.
The partnership was an additional update to SuperConcepts' iSaver offering, which would aim to continue its provision of technology solutions for SMSF accountants, clients and advisers.
SuperConcepts chief customer officer, James Fitzpatrick, said with allocation toward property investment remaining high, the provider had looked to work off its recent analysis of SMSF investment trends and launch an offering which could fill a market gap.
"The asset allocation to the property sector remains high at 20.6 per cent of investments for the September 2016 quarter," he said.
"The addition of the DomaCom Fund will provide an innovative solution for our SMSF clients with an appetite for property investment."
DomaCom chief executive, Arthur Naoumidis, said: "One of our goals in establishing DomaCom was to introduce some of the equity market concepts to the property asset class, in particular for SMSFs who find it difficult to include property because of the typical small balance relative to the high cost of property".
Under a 12-month mutually exclusive distribution agreement, DomaCom property investments would be added to the iSaver platform at no additional cost.
AUTHOR
Hope William-Smith
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