CFS tops platform rankings
Colonial First State has sustained and strengthened its position at the top of the annual Wealth Insights platform rankings.
The platform service level rankings, released by Wealth Insights this month, saw Colonial First State not only its top-ranked position with its Firstchoice offering, but score second position with its FirstWrap product.
The achievement came on the bank of a range of enhancements announced to the platforms in 2013.
Third position on the service level rankings went to Macquarie Wrap.
In terms of fund manager rankings, Colonial First State ranked at number one, followed by Vanguard and Fidelity.
Wealth Insights managing director, Vanessa McMahon said over 1,200 financial planners had rated the platforms and fund managers that they used on their services during March and April.
Commenting on the outcome, Colonial First State's head of FirstWrap and Investment Products, Peter Labrie said he believed the outcome reflected the level of investment and continuous improvement which had been injected into the products.
"We view the results of the Wealth Insights report as direct feedback on how advisers' rate our service," he said.
"To be awarded number one for platform service for FirstChoice, and number two for platform service for FirstWrap is something we are very proud of. It is confirmation that the support we provide advisers helps increase their efficiency - which we know is an important objective for every advice business."
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
