CFS’ FirstChoice hits $80b FUM
Colonial First State’s (CFS’) FirstChoice has announced it has hit $80 billion in funds under management (FUM) in its 15th year of running the platform.
CFS also announced its investment team now manages $40 billion of multi-manager and life stage portfolios across superannuation, pensions, and investments.
The firm also pointed to Roy Morgan Research’s ‘Superannuation Satisfaction Survey’, which measures the level of satisfaction Australians have with the financial performance of their super funds. The latest survey for the six months to March 2017 showed CFS had moved up third position in overall rankings of retail and industry super funds.
It ranked first in customer satisfaction levels in the retail sector.
AUTHOR
Staff Writer
Recommended for you
Advisers could find themselves unable to receive the fair market price of their advice as the Delivering Better Financial Outcomes legislation states superannuation trustees can reject deductions that are not charged on a cost basis.
Two advice professionals have shared five key takeaways as to how advisers can strengthen their communication with clients, especially at review time, in order to build deeper relationships.
The Financial Services Council has launched the Digital Advice Expert Group to support policy development around digital advice adoption and ensure greater accessibility for Australians.
MLC Asset Management’s managed account offerings have hit $2 billion in funds under management, underpinned by over half of financial advisers’ usage of the investment products.
