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CFS wrap platform hits $15 billion

Colonial First State has announced a “significant milestone” with its wrap platform business, Custom Solutions, reaching $15 billion in funds under administration.

Custom Solutions general manager Chris Stevens said the FUA reached is a “strong endorsement” of CFS’s investment in the product range.

“At a time when much of the industry has been focused solely on the impacts of regulatory reform, we have managed to also release significant product enhancements into the market.” Mr Stevens said.

“We recognise the additional pressure advisers are facing and have released key improvements such as our Adviser Dashboard and enhancements to our direct equity offering that will help advisers run a more efficient business, freeing up more time for them to demonstrate value to their clients.”

The milestone follows CFS’s FirstWrap being named ‘best overall platform’ in this year’s Investment Trends Platform Report.