Dealer group demand for Colonial First State (CFS) Customs Solutions has justified CFS’ decision to bring the management of the tailored platform solution in-house, according to general manager of distribution Paul Barrett.
CFS launched CFS Customs Solutions in June, its first foray into the white label platform sector, to coincide with the launch of its First Wrap and First Wrap Plus retail platforms.
The product was previously managed by Avanteos under another name before CFS decided to bring its management in-house to take advantage of the launch of First Wrap and First Wrap Plus.
“We are engaged in a lot of discussions about white label opportunities with small, medium and large groups,” Barrett said.
“This suggests there is certainly room enough in the tailored white label market for another player with longevity and strength.
“The white labelling is a long lead time business but we believe there are certain dynamics in the market that are going to enable our business model.”
Barrett said CFS does not have targets for “what we think is possible in terms of assets under management as obviously it’s a new launch”.
“We’re going to be selective in who we partner with but, at the same time, we’re looking forward to it being a key part of our product stable in the future.”
