Colonial boosts FirstChoice ranks
By Craig Phillips
ColonialFirst Statewill meet its FirstChoice competitors head-on following the augmentation of its sales capabilities in preparation for the platform’s scheduled enhancements in May.
The group has bolstered the number of dedicated business development managers to the platform with six appointments.
According to Colonial general manager distribution Richard Nunn, the group plans to increase its focus on FirstChoice with the appointment of sales staff to the platform.
“We are [focusing] more heavily on FirstChoice than we have in the past while remaining first and foremost a funds manager. Part of that focus will include a range of enhancements in the early part of May,” Nunn says.
To date Nunn believes FirstChoice has been disadvantaged by the group’s BDMs having too broad a market to focus on.
“What I don’t want to see is our core investment management BDMs compromising this part [FirstChoice] of the business — trying to compete with dedicated teams from other organisations that don’t have to focus on investment management.
“It’s fair to say that FirstChoice has been phenomenally successful but for us to continue that growth we need to be out there competing more aggressively,” Nunn says.
As for the anticipated enhancements, Nunn does not reveal any details of the plans but says: “We will be maintaining the core prin-ciples that have made FirstChoice successful but making a number of changes to increase competitiveness.”
The new BDMs include Sally Collins, Jason Jones, Timothy Meggitt, Tony Petroccia, Suzanne McCouaig, and Ben Coombe.
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