Colonial First State’s FirstChoice platform has reached a milestone, achieving $50 billion in Funds Under Administration (FUA).
The milestone has been confirmed by CFS chief executive Brian Bissaker, who said the figure had grown from $200 million in FUA at launch in May, 2002.
Commenting on the milestone, Bissaker said the success of the platform could be attributed to a combination of pricing and service.
"Being able to provide same-day pricing, with execution and reporting of all trades within 24 hours, delivers efficiencies for financial advisers and certainty for investors in volatile markets," he said.
