Colonial First State (CFS) has reached $1 billion in funds under administration on its Edge platform, having launched last year.
CFS Edge launched in August 2023, and the firm said the steep asset growth has been fuelled by strong demand for an integrated wrap solution that meets the changing needs of today’s advice businesses and their clients.
It is currently used by 2,200 advisers and 380 licensees with over 550 managed funds and 160 ETFs available on the platform.
The firm noted it had targeted the platform towards the adviser market from the beginning with feedback sought from advisers throughout the development process.
“The first thematic [from advisers] was get the basics right and get the service to a premium standard; expectations around service delivery are critical. The second is about finding a way for the platform to sit within their existing advice processes rather than asking them to conform with us. That’s a key differentiator for Edge which is the ability to personalise the experience on the screen and the software they integrate into,” the firm said at the time of the launch.
CFS Superannuation CEO, Kelly Power, said the success of Edge has positioned CFS as a leader in the platform market.
“CFS has built deep relationships with financial advisers over many years. Those relationships have been pivotal to the rapid growth of CFS Edge in such a short space of time. We have built an integrated platform that puts advisers in the driver’s seat.
“Edge advisers and their clients are uniquely positioned to continue benefiting from global expertise, ongoing R&D, and the unparalleled pace of innovation that only comes from global scale coupled with CFS’ deep understanding of the Australian market,” she said.
Bryce Quirk, CFS group executive for distribution, said: “In addition to our foundational partners, we now have a significant cohort of early adopters and a growing number of HNW advisers who are sharing their insights on how the platform can be tailored for their practices and their clients.”
He hinted at future developments and enhancements to come for the platform, helped by its partnership with technology firm FNZ.
“With a global partner like FNZ, we have the capability to optimise the platform for advisers while continuing to roll out a packed roadmap of enhancements, from additional functionality and improved user experience to further expansion of the investment menu,” he said.
