Colonial First State (CFS) has now exceeded $20 billion invested in CFS managed accounts, while also announcing a series of platform enhancements to better meet the needs of advisers.
The firm said this sum had been boosted by demand from advisers, licensees, and portfolio managers for the platform due to its reduced investment fees and discounted platform administration fees.
It currently offers managed accounts from 59 portfolio managers and is expanding its international managed account series, having already added international equity options from Walter Scott, Franklin Templeton, and Watershed earlier this year.
The milestone comes as research by the Institute of Managed Account Portfolios (IMAP) finds funds under management in managed accounts in the six months to 30 June reached $256 billion, with inflows over the period of $16.7 billion.
Frances Taylor, executive director of managed accounts at CFS, said: “Surpassing $20 billion invested into CFS Managed Accounts reflects the benefits financial advisers are realising from our significant investment in managed accounts infrastructure, expertise, and broad menu options.
“Our ambitious roadmap is focused on providing advisers with managed account solutions that provide them with efficiency, transparency and enable them to deliver better outcomes for their clients.”
As the platform provider hits this milestone, CFS has also entered into a strategic partnership with MST Financial to introduce a new research platform – Sandstone Insights – to provide advisers with ASX 200-listed equity research.
In addition to delivering streamlined tools to help advisers service clients faster, the platform will allow advice professionals to create personalised wish lists with alerts, access buy, hold, or sell notes for all companies under research coverage.
On top of this, advisers will also be able to view in-depth company ratings, Sandstone Insights’ top-rated investment recommendations, and trading ideas built on market trends.
Taylor said: “In an environment flooded with market data, this collaboration helps advisers cut through the noise – offering clear, digestible research to support confident conversations with clients about Australian shares.”
John Meagher, manager for MST Financial’s Sandstone Insights, added: “We are delighted to be partnering with CFS as they continue to innovate and develop new ways to help advisers deliver the best possible outcomes for their clients’ investment portfolios. We hope that our stock research and market insights will support advisers with ideas and information as they navigate the Australian equity market.”
