Colonial First State launches CFS Edge

• CFS Edge launched as first major new platform in the Australian wealth management sector in almost a decade with managed accounts at its core

• Market leading FNZ technology with new features and capability not previously available in the Australian market

• Real-time two-way integration with financial planning software including Iress XPlan and AdviserLogic

• Global benchmarking and predictive insights enable advisers to learn and better serve their clients

Tuesday 01 August 2023: Colonial First State (CFS) today announces the launch of CFS Edge, the most contemporary wealth management platform in the market, bringing world-class technology and capability to the Australian financial advice sector and their clients.

Developed in collaboration with FNZ, a global leader in wealth management platforms, CFS Edge will transform the way advisers can service their clients through features not before seen in the Australian market. CFS Edge will enable digital adviser workflows, advanced data analytics, an integrated app store and analysis tools for licensees, advisers and members.

“CFS Edge is the first major new platform in the Australian wealth management sector in almost a decade. It utilises the best global wealth management technology and has been uniquely co-developed with financial advisers from the very start,” said Kelly Power, Chief Executive Officer of Colonial First State Superannuation.

Seamless two-way integration with financial planning software

With CFS Edge advisers can seamlessly integrate with their preferred technology partners thanks to open APIs and real-time two-way data integration.

“At CFS we're thinking differently about how we make sure advisers have access to the best capability available anywhere in the world. Our approach is to have an open platform that allows for seamless, secure integration with leading advice technology providers. This enables advisers to set up new clients in seconds, eliminates the risk of errors and significantly improves the user experience to give advisers more time to focus on their clients,” said Ms Power.

CFS Edge has real-time two-way integration with financial planning software including Iress Xplan and Adviser Logic, with plans to rapidly expand integration with other technology providers by giving fintech providers the ability to access a developer portal to build their own connections on the platform.

Flexibility and personalisation

Many financial advisers are seeking greater flexibility to run their businesses more efficiently and to be able to better service their clients. Benefiting from co-development with advisers, CFS Edge uses a modular approach, which is highly configurable to suit individual preferences and business requirements.

By partnering with FNZ, CFS Edge will enable advisers to deliver even more personalised investment solutions to their clients, through accessing an even wider range of investment capability and reporting functionality to support their recommendations and engagement with clients.

“Flexibility and configuration are at the core of CFS Edge. The platform gives advisers extensive control and allows for a level of personalisation not seen in the Australian market,” added Ms Power.

Managed accounts and continuous enhancement

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 customisation and granularity in the comparisons and portfolio analysis that can be undertaken.

“CFS Edge is a full-service wrap platform from day one, offering market leading super, pension and investments capability with advanced managed accounts at the core. The quality of the platform and our service experience is paramount. We have undertaken extensive market testing at every stage and are delighted to now launch CFS Edge to the whole market,” said Ms Power.

In the coming weeks, additional features such as ESG preferences will be released alongside capabilities that will further expand the range of available investment options and provide even greater functionality for advisers.

Global insights and intelligence

CFS Edge has been designed to give advisers predictive insights and alerts, enabling them to see new advice and growth opportunities, highlight areas of inefficiency and pre-empt potential issues for their clients. These insights are benchmarked against peers in Australia and globally and can be tailored to different roles including licensee, business owner, adviser, or support staff.

Developed with a global leader in wealth management technology

FNZ is a global leader in wealth management platform technology, administering over $2.2 trillion in client assets and partnering with over 650 of the world’s leading financial institutions and over 8,000 wealth management firms.

Tim Neville, CEO, FNZ APAC, said: "FNZ is delighted to have delivered the Edge platform in partnership with CFS. Our partnership with CFS is truly exciting, leveraging their market leading service, expertise, and reach."