Colonial First State announces next generation of managed accounts exclusive to CFS Edge

Wednesday 6 September 2023 Colonial First State (CFS) has unveiled the future of managed accounts that will provide access to game-changing pricing, greater flexibility and enhanced investment capabilities exclusive to CFS Edge. 

At the official CFS Edge launch event in Sydney yesterday, CFS Group Executive – Distribution, Bryce Quirk, unveiled the CFS Edge Accelerate Series, the next evolution in managed account construction that will further drive down the cost of investing and advising clients. 

The Accelerate Series will be available later this year and will harness the heritage and scale of CFS asset management to deliver highly rated and frequently used investment options at a significant discount, coupled with the ability to reduce the percentage-based Administration Fee on CFS Edge to zero where the managed account comprises the Accelerate funds offered only through CFS Edge.

The new offering has been designed in response to feedback from advisers, helping them meet Best Interest Duty obligations through low-cost and flexible solutions.

“The Accelerate Series is a game-changer.  Not only are investments offered with transparent and institutional pricing, but we will also waive the percentage-based Administration Fee on CFS Edge where managed account comprises only Accelerate investments offered through CFS Edge.  CFS is revolutionising managed accounts by offering advisers and clients access to no percentage-based Administration fees and doing away with inefficient and clunky rebates.  Client funds are always invested, and cash statements are free of confusing rebate arrangements that otherwise need to be explained to clients,” Mr Quirk said. 

“Through the Accelerate Series, advisers will be able to combine domestic and international equities and over 550 funds in a single account, on a single platform,” he said. 

Nested managed accounts are another key feature of CFS Edge, giving advisers and their clients the ability to hold a separately managed account (SMA) inside other portfolio types such as another SMA, Managed Discretionary Account (MDA), or Model Portfolio (MP).

The Accelerate Series will deliver a full-service solution designed to be suitable for a wide range of clients, from younger accumulators to high-net-worth individuals. 

“Advisers have told us that the needs of their clients are evolving, and we are responding at pace to those needs.” 

“The breadth and depth of CFS Edge will give advisers the ability to blend simple low-cost solutions with the most sophisticated investment options in a single account, allowing them to service different client segments from a single platform,” Mr Quirk said. 

CFS Edge customers will also have access to international equities across 15 stock exchanges, including the New York Stock Exchange and the NASDAQ, as well as 10 currencies including US dollars, Euros and Pounds Sterling *

Customers can hold multiple currency wallets to meet their needs, preventing the need to cross back to Australian Dollars to trade in foreign markets.

CFS Edge is the first major wealth management platform with managed accounts at its core. The platform offers advanced modelling tools designed to support deeper analysis through greater customization and granularity in the comparisons and portfolio analysis that can be undertaken.

Built in collaboration with FNZ, a global leader in wealth management platforms, CFS Edge is the most contemporary wealth management platform in the market, bringing world-class technology and capability to the Australian financial advice sector and their clients.

The platform offers real-time two-way integration with financial planning software including Iress Xplan and AdviserLogic.