Colonial First’s RoA enhancements increase adviser usage
Colonial First State (CFS) saw a jump of 10 per cent in usage by advisers of its enhanced record of advice (ROA) functionality which was launched six months earlier.
According to CFS, the growth in usage could be explained by the fact that new enhancements enabled advisers to generate an ROA on the same day, in most cases in 30 minutes, rather than having to wait overnight.
Also, advisers could now create one investment portfolio and apply it to many clients, while detailing a RoA for each, and leave the transactions pending before submitting a bulk switch and the changes would be automatically applied.
Colonial's general manager distribution, Matt Harrison, said that advisers were constantly looking for implementing ‘well-researched investment ideas' and that a new functionality came as catalyst for its automated ROA facility, which was originally introduced a few years ago.
"Our commitment to delivering sustainable solutions through ongoing investment meant we enhanced this even further six months ago by giving advisers the ability to generate ROAs for their clients and leave the transactions pending before submitting bulk model switches in FirstNet adviser," he said.
"Efficient solutions are at the core of enabling advisers to spend more face-to-face time with their clients and we remain committed to working with advisers to continually enhance this offering across our platforms."
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.
