Colonial First State's FirstChoice reaches $50 billion
Colonial First State's FirstChoice platform has reached a milestone, achieving $50 billion in Funds Under Administration (FUA).
The milestone has been confirmed by CFS chief executive Brian Bissaker, who said the figure had grown from $200 million in FUA at launch in May, 2002.
Commenting on the milestone, Bissaker said the success of the platform could be attributed to a combination of pricing and service.
"Being able to provide same-day pricing, with execution and reporting of all trades within 24 hours, delivers efficiencies for financial advisers and certainty for investors in volatile markets," he said.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
Count Gold Coast, an equity partner of Count, has entered into binding agreements to acquire clients of two accounting businesses, providing new opportunities for its financial advisers.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
