CFS wraps get new managed account solutions
Colonial First State (CFS) has announced new managed accounts capabilities across its FirstWrap and FirstChoice platforms, which will complement existing multi-manager and model portfolio offers.
The new release on FirstWrap includes no brokerage fees for clients trading within their managed account, and no additional platform fees for clients accessing the new managed accounts.
Advisers would also be able to set client preferences within their managed account portfolios to reflect individual investment preferences such as ethical beliefs or their personal trade restrictions.
CFS general manager, product and investments, Peter Chun said the managed account capability would cater to requirements across the independent financial adviser network, and a variety of licensees.
“Combining both our scale and flexibility to offer solutions across our platforms, including tailored managed accounts for licensees as well as assisting advisers to efficiently manage their client portfolios,” he said.
CFS currently administers more than $6 billion in managed account structures on its FirstWrap platform. Managed accounts solutions would be launched on FirstChoice later this year.
CFS' platform offerings and future plans will be discussed and debated in-depth at Money Management's Fintech Platforms & Wraps Conference, due to be held Wednesday 2 to Friday 4 August at the Gold Coast.
AUTHOR
Malavika Santhebennur
Recommended for you
Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand.
The third quarter of 2024 saw the first positive increase in adviser numbers for 12 months, according to the latest quarterly Musical Chairs report, with new entrants overwhelmingly choosing to join privately owned firms.
As more advisers review their fee structures, Business Health has shared six steps to calculating the price to deliver financial advice services in a profitable yet suitable way.
ASIC’s Sarah Court has confirmed the regulator is carrying out systematic work on providers of unlicensed advice but admits it is a case of “whack-a-mole” when it comes to disciplining them.
