Colonial First State upgrades platforms
Having just emerged as the highest-ranked provider in the Wealth Insights research into service levels, Colonial First State (CFS) has announced a range of upgrades to its FirstChoice and FirstWrap platforms.
The company said the changes were aimed at improving adviser efficiency and expanding its offering to clients.
Commenting on the changes, CFS general manager, products and investments Peter Chun said the changes reflected feedback from advisers with respect to meeting the requirements of the Future of Financial Advice (FOFA) changes.
The changes will see FirstWrap introduce a new corporate actions capability allowing advisers to automatically handle how their clients respond to announcements such as rights issues or share buybacks.
As well, the platform will deliver a new online dashboard intended to offer greater visibility of client accounts and enhanced administration support.
The company said other enhancements included greater flexibility for advisers in determining a fee structure for their clients; the availability of binding death nominations across both platforms; and the ability of advisers to still access CommInsure and Asteron Life, thereby permitting ongoing commission payments.
AUTHOR
Staff Writer
Recommended for you
With HNW investors representing the largest market for alternative assets, Praemium and CoreData research underscores why this presents a compelling opportunity for advisers.
Having completed the successful integration of Diverger, Count has upgraded its forecast for expected synergy benefits achieved by the acquisition by a third.
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.
