Colonial First State has today announced details for its new Managed Accounts capability across its FirstWrap and FirstChoice platforms, including no brokerage fees for clients, as part of a tailored solution to suit a wide variety of licensees and independent financial advisers.
Colonial First State already administers more than $6 billion in managed account structures on its FirstWrap platform. The new release on FirstWrap, and the launch of Managed Accounts on FirstChoice later this year, 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.
Advisers will also be able to set client preferences within their managed account portfolios to reflect individual investment selections, such as ethical beliefs or their own personal trade restrictions, providing greater flexibility.
General Manager, Product and Investments at Colonial First State, Peter Chun commented: “Our new Managed Accounts capability ensures that Colonial First State will answer a range of broad needs across the IFA network.
“Combining 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.”
