Colonial First State has announced the launch of the new CFS FirstWrap mobile app as the latest development in the firm’s transformation and digitisation strategy.
The new app will enable the 35,000 members who use FirstWrap to view and monitor their account balances, investments and transactions using an Apple or Android device.
“The launch of this app is another strong step in improving the digital experience for FirstWrap members,” said CFS Superannuation CEO, Kelly Power.
“It allows members to conveniently view their FirstWrap accounts through their phone and access features not available through online investor access.”
Using the FirstWrap app, CFS said that members can view their total portfolio balance as well as the individual balances of any FirstWrap Plus Personal Super, Pension or Term Pension along with FirstWrap Plus Investments accounts that they hold.
Additionally, they will be able to see their account balance over time, a summary of all contributions, credits, debits and fees from the current financial year and details on where their money is invested including units, current value and allocation for investments.
“Members can also contact their adviser directly from the app, encouraging them to engage with their adviser more often,” added Ms Power.
“CFS strongly believes in the value of quality financial advice, and this particular app feature reinforces our commitment to supporting members’ relationships with their advisers.”
FirstWrap members can download the new app from the Apple or Android app stores. CFS explained that they will then need to register their app account using a unique registration code.
The firm also noted that the app includes security features such as two-factor authentication and supports Face and Touch ID when logging in.
CFS previously announced that it was investing $430 million across its business over the next four years and appointed FNZ to begin a major revamp of its wrap business in February.
According to the firm, the renewed wrap platform is still due to launch in late 2022.
“We are well on the journey and will continue to listen to feedback from our members and deliver more features in the future to meet their ongoing needs,” said Ms Power.
