CFSGAM launches three SMAs on FirstWrap
Colonial First State Global Asset Management (CFSGAM) has launched three separately managed accounts (SMAs) on Colonial First State’s FirstWrap platform.
The firm said that the new SMAs would range from high conviction active portfolios to low turnover passive portfolios and would provide advisers and their clients with an access to the share market while retaining the active stock selection and risk management benefits of a professional investment manager.
The new SMAs would include the CFSGAM Top 20 Index Portfolio, which was designed to deliver performance similar to that of the S&P/ASX 20, the CFSGAM Concentrated Share Portfolio, which would contain a selection of high conviction growth stocks, and the CFMGAM Ex-20 Australian Share Portfolio, which would be aimed at the S&P/ASX 300 stocks.
CFSGAM’s head of business development, Australia and New Zealand, Harry Moore said: “Advisers are increasingly turning to SMAs to create better financial outcomes for their clients.
“SMAs create less administration and time spent researching stocks compared to direct equity ownership and low transaction costs,” he said.
Money Management is currently investigating what’s behind the rise of SMAs and who the true winners are. Advisers who complete our survey will be in the running to win a bottle of Penfolds Grange Hermitage.
Recommended for you
ASIC has cancelled the AFSL of a Gold Coast advice firm, its tenth AFSL cancellation since the start of the year with the majority being advice firms.
Career changers, such as accountants and teachers, are a valuable demographic for potential advisers as industry commentators say adviser numbers are “not touching the sides” of consumer demand.
Financial advisers and wealth managers need to exceed their clients’ desires for personalisation, a new EY report writes, and the requirements for this will vary between client segments.
Betashares chief executive, Alex Vynokur, believes technology advancements will enable banks to return to financial advice in the future as the need for advice is greater than ever.