Colonial First State will now offer managed account capabilities across its FirstWrap and FirstChoice platforms.
While the company already has more than $6 billion in managed account structures through the FirstWrap platform, Colonial First State said the new offering “will complement existing multi manager and model portfolio offers”.
“Under the new offering on FirstWrap, clients will not be charged brokerage for trading within their managed account, nor will any additional platform administration fees be charged for clients accessing the new managed accounts,” the company said.
Colonial First State general manager for product and investments Peter Chun said the managed accounts capabilities “will answer a range of broad needs” within the independent financial advice space.
Mr Chun said the new service will combine “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 clients’ portfolios”.
Financial advisers will be able to select a number of client preferences within their managed account portfolios so individual clients’ beliefs, ethics and “personal trade restrictions” could be included.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Sep 2018Independent advice will prosper but must be paid for: LovedayBy James Mitchell
- 21 Sep 2018Former ASFA policy advisor to boost FPA ranksBy Reporter
- 21 Sep 2018Aligned advisers in search of freedomBy Adrian Flores
- 20 Sep 2018Banned Perth adviser did not engage in dishonest conductBy James Mitchell
- 20 Sep 2018‘No advisers have been mistreated’: DalyBy James Mitchell
- 20 Sep 2018Beacon advisers held ‘ransom’ while IIOF money remains missingBy James Mitchell
- view all