CFS hosted the unveiling of Edge on Tuesday night at the Sydney Opera House.

Integration and customisation will be at the heart of the new CFS Edge platform which launches early next year with migration expected to be completed 12 months after it hits the market.

CFS hosted a preview at the Sydney Opera House on Tuesday night and will show off the platform to the broader industry in 2023 when in full operation.

The launch of the new platform was announced earlier this year and is part of CFS’s $430 million investment strategy to build out the company over the next four years, after private equity firm KKR completed its acquisition of the business in 11 months ago.

A global process was run by CFS to select a vendor to partner with, which ultimately led to the selection of FNZ.

CFS head of distribution Bryce Quirk tells Profession Planner the new platform will integrate other advice software, which research has noted is a big need for advice practices.

“The important part is that we’re quite agnostic as to who we partner with in that sense,” Quirk says.

“We will allow fintech providers to come and work without our development space. There’s an opportunity to partner with a whole lot of different providers in market that advisers use today that traditionally don’t tap into platforms in a holistic sense.”

When it comes to managed accounts, Quirk says it is at the core of the new platform, noting it’s the first major platform to come to market since managed accounts rose in popularity.

“All the managed account capability we see today has effectively been bolted onto existing platforms, whereas this actually sits at the heart of the infrastructure,” Quirk says.

Additionally, there will be flexibility around how multiple stakeholders of managed accounts can interact with the platform.

“It goes beyond the adviser and the client and involves the responsible entities, the asset consultants, the portfolio managers,” Quirk says.

Up close and personal

Each stakeholder will be able to create their own experience with how they engage with other users of the platform.

“It’s a widget-based approach so you can drop and drag and configure the platform that you see on the screen,” Quirk says.