Peter Chun

Colonial First State (CFS) has announced that Managed Accounts are now available on the FirstWrap platform.

Peter Chun, General Manager Distribution, Colonial First State said: “We are pleased to be expanding our Managed Accounts offering to include FirstWrap. This complements the wide range of solutions already available on our platforms and highlights our focus on supporting different advice models and businesses.”

Under the new FirstWrap offering, advisers can choose from a range of professionally managed portfolios available on the FirstWrap menu to deliver transparency, simplicity and individual tax outcomes for their clients.

Managed Accounts on FirstWrap also offer some very distinct features including no brokerage fees for direct equities SMA portfolios and the ability to set client preferences at the account level.

“We’re the first platform provider in Australia to offer zero brokerage for direct equities clients within Managed Account portfolios,” Mr Chun said. “This means advisers have access to a wider range of portfolio choices at a reduced cost when it comes to brokerage.”

Managed Accounts also reduce time spent on administration as any changes made to investments automatically flow through to client accounts, which can reduce time-consuming paperwork and create greater practice efficiencies, while ensuring clients are always in up-to-date portfolios.

“This is a game changer for advisers and advice practices,” Mr Chun said.

“Throughout 2018 we will continue our commitment to provide a broad range of solutions for advisers including a tailored managed account offer for licensees with investment capabilities or bespoke requirements.”

“We have a rich history of providing quality products and service to advisers and are committed to expanding on this success, Mr Chun said.

According to the latest Investment Trends report, 45 per cent of advisers who intend to use Managed Accounts will look to CFS, more than any other platform provider. Advisers have also rated CFS as providing ‘Best Platform Service’ in four out of the past five Wealth Insights surveys.

Managed Accounts were also launched on the FirstChoice platform last November.  Colonial First State has more than $7 billion in funds under administration in managed account solutions.

The post Managed Accounts now available on FirstWrap appeared first on AdviserVoice.