CFS wraps get new managed account solutions
Colonial First State (CFS) has announced new managed accounts capabilities across its FirstWrap and FirstChoice platforms, which will complement existing multi-manager and model portfolio offers.
The new release on FirstWrap includes no brokerage fees for clients trading within their managed account, and no additional platform fees for clients accessing the new managed accounts.
Advisers would also be able to set client preferences within their managed account portfolios to reflect individual investment preferences such as ethical beliefs or their personal trade restrictions.
CFS general manager, product and investments, Peter Chun said the managed account capability would cater to requirements across the independent financial adviser network, and a variety of licensees.
“Combining both our scale and flexibility to offer solutions across our platforms, including tailored managed accounts for licensees as well as assisting advisers to efficiently manage their client portfolios,” he said.
CFS currently administers more than $6 billion in managed account structures on its FirstWrap platform. Managed accounts solutions would be launched on FirstChoice later this year.
CFS' platform offerings and future plans will be discussed and debated in-depth at Money Management's Fintech Platforms & Wraps Conference, due to be held Wednesday 2 to Friday 4 August at the Gold Coast.
AUTHOR
Malavika Santhebennur
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
