CFS launches Managed Accounts on FirstChoice
Colonial First State (CFS) has launched Managed Accounts on FirstChoice, in what it says is the first in a series of managed account solutions that it plans to roll out.
Under the new platform enhancement, licensees could construct their Managed Accounts portfolios from over 100 investment options, which could then be recommended to clients based on client goals, capacity for risk and objectives.
Client accounts would be automatically updated with any changes made to their investments. This could help improve efficiencies for advisers as it would reduce the need for ongoing advice documentation.
CFS general manager, distribution, Peter Chun was proud of the options the new platform would give both advisers and clients.
“We’ve delivered a scalable portfolio management solution, allowing the flexibility and control to effectively manage client portfolios without the need to shift advisers’ investment value proposition,” he said.
Chun also emphasised that Managed Accounts on FirstChoice retained the essential elements of FirstChoice.
“Knowing that FirstChoice is such a widely adopted platform in the advice community, it was important to us that this solution stayed true to all the fundamental elements that advisers love, while also providing the core benefits of a managed accounts offer,” he said.
The new platform operates with no additional investment or administration fees for clients.
AUTHOR
Hannah Wootton
Recommended for you
The RBA assistant governor (business services) is set to speak at the Women in Finance Summit 2025, taking place this November.
Momentum Media’s wealth publishing network is pleased to announce the launch of the annual Australian Wealth Management Summit 2025.
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
