News / Wealth Management

Colonial First State (CFS) has chosen to implement the IRESS Portfolio System (IPS) as part of its managed accounts solution within the FirstWrap platform. 

Peter Chun, Acting Executive General Manager of CFS, said finding the right technology provider who understands the fast-changing advice and portfolio management environment, and the need for leading solutions to meet adviser needs, was paramount.

 “Our approach is to use best-of-breed technology on the services we provide to advisers to meet their evolving needs, not just in managed accounts but in the broader context of running a platform.

 “As one of the largest platform houses in Australia with adviser and investor feedback consistently telling us they are very satisfied, we went out and sourced the best in class capability around managed account technology”.

 Managed accounts offer some of the benefits of direct ownership of securities with an overlay of professional management and administration.

 “These benefits have been known by the industry for some time, but we are now seeing a sharp uptick in the demand for these types of products” said Mr Chun.

 The solution will be available from 2017 on the Colonial First State FirstWrap platform.

 IRESS Chief Executive Officer, Andrew Walsh, said IRESS was delighted to work with CFS.

 “We are very pleased to help CFS continue to deliver on its strategy through technology and deliver this important solution for advisers and their clients.

 “We continue to invest in building and implementing high quality, reliable and integrated technology to meet the many different needs of our clients, and their users.”


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