CFS launches adviser tools

Colonial First State has announced it will launch three new services for advisers in an effort to increase business efficiency.

Speaking at the Colonial First State adviser briefing yesterday, head of retail platforms for CFS Sam Wall announced a new administration portal for its adviser network as well as a new portfolio service and the introduction of annuities via platforms enhancements.

E-setup has been launched as a new online application form for Colonial First State’s FirstChoice Wholesale.

Advisers benefit from a more simplified and streamlined way of establishing new accounts in FirstChoice, reduced processing time and use of paper as well as digital validation to increase security and accuracy, while an SMS code validation for applications reduces the need for e-signatures, Mr Wall said.


“E-setup is ready now, and will be available on the wrap platform down the track,” he said.  

Off-platform, CFS also announced it will be launching Portfolio Service later in the year.

“Portfolio Service allows you to manage your clients direct and custodial assets all in one place,” Mr Wall said.

“You have the ability to apply a simple, flat administration fee and still be able to access all the other benefits that come with the wrap – like consolidating, reporting etc.

“We think this solution will have large appeal for SMSF investors that are looking to resolve the admin burden with direct equities and corporate actions. The solution will go live later in the year.”

In the retirement space, CFS will be introducing the Challenger Deferred Lifetime Annuity via FirstChoice and FirstWrap.

“This is a brand new longevity solution that can provide clients with additional income once traditional sources have dried up,” CFS said.

CFS launches adviser tools
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