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FirstNet Adviser is changing

FirstNet Adviser offers you a fresh and modern platform, providing more efficiency to you and your support staff at every step of the adviser journey. We’ve listened to your feedback and responded by adding new ways to help you work smarter, so you and your clients can get the most out of your time. These enhancements are the first step - we’ll continue to improve FirstNet Adviser over the next 12 months.

We’re rolling out a series of enhancements, focused on:

Modernising the FirstNet Adviser platform

Giving you more digital servicing solutions

Integrating with advice planning software

Your new dashboard

The first change you’ll see is a new homepage dashboard when you log in –offering a more modern and intuitive view, making it easier to access all of the features you need. New features include.

Alert notifications

For items requiring your action 

Quick client search

Search by name or account number + dropdown menu showing the last 10 clients you’ve viewed. Quick links to popular features, including recently requested reports

Work in Progress table

Keep you up-to-date with pending and outstanding tasks 

With dedicated links to areas like ePost, ePost History, Open New Account, Digital Communications and Retrieve Reports, you’ll find our modernised homepage layout simple and straightforward to use. We’ve also made sure to retain the original navigation locations, for familiarity for you when you access the new homepage for the first time. 

New investment switching tool

We’re upgrading our most popular transaction tool – investment switching – with a range of new enhancements and features, including:

A contemporary new design with simpler navigation

A new feature to align the portfolio to the future investment allocation

A new 'Rebalance investments' function

Smart tips and form validation to reduce errors

Pre-filled consent and summary forms

We're continually investing in more improvements and will be adding enhanced complex switches and pension capabilities too. 

New adviser fee consent

Prepare your advice fee consent forms ahead of client meetings

You can now prepare an advice fee consent form - for both ongoing and fixed term adviser service fees - up to 120 days in advance of an upcoming meeting with clients.

Save a draft to work on later

You can also save a draft version of your advice fee consent form in FirstNet Adviser and continue where you left off later.

Enhanced client consent management

  • Tips to help avoid anniversary and consent date errors 
  • Clear instruction for obtaining and submitting client consent.

improvements to adviser service fee and client reporting tools

We’ve made improvements to the Adviser service fee detail report and Client Review Reports to provide more of the information you and your clients need. New reporting features available for you to use now include:

Adviser service fee detail report:

  • Added GST, RITC, Earnings Tax, and Gross Earnings with annuities transactions excluded.
  • Adviser service fee reversals moved from the adjustment line into adviser service fee line in the Client Review Report, to display the actual deduction. ​

Improvements to the Adviser service fee anniversary date set up:

  • The anniversary minimum date range is extended from 30 days to 60 days from current date.​

Client Review Report enhancements:

  • APIR and investment option codes are displayed in client reports.
  • Client Review Report now includes an asset allocation pie chart to display the grouping of underlying asset classes in defensive and growth categories.

Manager and Asset-Allocation Calculator enhancements:

  • In selected portfolios within the FirstChoice Manager and Asset Allocation Calculator tool, model percentages are pre-populated for all investment options.

Pre-filled forms

We’re adding pre-filled forms to the Digital Communications Tool, to save you time and give you a head start on your client transactions.

We’re starting with some of our most-used forms, including:

  • Change of details – Pension Payment update
  • Withdrawal – FirstChoice Wholesale Pension
  • Withdrawal – FirstChoice Pension

Getting started is easy, just select the form inthe Digital Communications Tool, check the ‘Pre-fill’ box and choose your client - and your client's details, like their name, account number and date of birth will be automatically added to the form in the PDF Editor

FirstChoice super contribution reports can be run on-the-spot in real time.

The Client Review Report and Client Contribution Report in FirstNet Adviser have been enhanced so you can report on your clients’ super contributions for the current financial year and up to 4 previous financial years. This is to help you monitor your clients’ concessional contributions levels to assist them to take advantage of any unused cap amounts they have accrued since 2018-19

Client contribution report corrected for rejected payments

  • We’ve updated the client contribution report to correctly reflect if a client’s cheque or direct debit was rejected by the bank and, as a result, the payment failed to process.
  • Prior to 21 November 2021, this payment may have been incorrectly included in the client contribution report, overstating the total contributions for the financial year. We recommend you re-run all potentially impacted reports to ensure there are no inaccuracies in any future advice.

 

What are FirstNet Adviser’s new contribution reporting features?

Split contribution information by financial year

Display the total concessional and total non-concessional contributions made in each financial year

Separate Government contributions from non-concessional contributions (Client Review report only)

We have a range of useful resources to help explain super contributions in more detail:

Adviser online access to deceased estate accounts

We’ve understand the challenges arising from removing access to deceased accounts in FirstNet Adviser. If we receive a notification of death for your client you will remain as the nominated adviser on the account, and you will retain read-only access to the account in FirstNet Adviser.

Whilst this means you won’t be able to update details or transact on the account, you will be able to view your clients’ details to help you manage their affairs. Your clients’ beneficiary details will be masked in order to protect the privacy of members. If you have previously had access to a deceased estate account removed, read-only access in FirstNet Adviser can be reinstated with an Advisor Nomination form completed by the Executor, Beneficiary or Administrator. 

Frequently asked questions


  • A modernised FirstNet Adviser. It’s packed with new tools to help advisers and support staff work smarter, not harder. Key features:

    • New dashboard   
    • Enhanced switching tool     
    • New advice fee consent features
    • Pre-filled forms
    • Client review report improvements 
  • CFS has been working on incorporating the new design into FirstNet Adviser, and are refreshing more pages in the near future.

  • The following quick links are available, that easily connect you to the most-used features on the platform:

    • ePost
    • ePost history
    • Open new account
    • Digital communications
    • Retrieve reports.
  • Any page that has been updated to the new design (Dashboard, landing pages)
    will feature the Horizontal navigation bar at the top of the page.

    However, pages still in the old format, have not been improved and existing vertical navigation will remain.

  • When you click in the search bar in the dashboard, it will automatically show the last 10 viewed clients.

    Note: This will not appear if a user’s FirstNet access is set to ‘No access’.

  • Step 1 - Enter the details

    • In the switch from section, select $ or %, and the amount(s) you wish to switch from each corresponding option
    • In the switch to section, select $ or % and the amount(s) you wish to switch into each corresponding option
    • If the investment option you would like to switch into is not visible, click the Add investment icon to search for the option
    • When all the switch information has been correctly input and the Available to switch toll shows $0, select Review.

      Note: You cannot switch more than 90% of an investment option as a dollar ($) amount. To do so, this must be completed as a percentage (%).

    • Note: The total amount you switch does not need to equal 100%.

    For example in the scenario below:

    10% of $10,000 is being withdrawn from Option 1 i.e. $1,000*

    100% of $5,000 is being withdrawn from Option 2 i.e. $5,000*

    This creates a pool of funds that needs to be switched to other option(s) i.e. $6,000*

    Note: For ease of use, FirstNet Adviser rounds all figures to two decimal places. As a result, the final option will have a compounded figure to account for the options rounded before it. This may result the switch being a few cents or several dollars short, depending on the amount of the entire switch. For instances where a more precise amount is required, we recommend switching by dollar amount.

     
    Step 2 – Review

    • Check that the details of your transaction request are correct.
    • A pre-submission Full Summary will be available to download
    • Click the Confirm switch checkbox to acknowledge the information is correct and you have authority to be making the transaction on behalf of your client
    • Submit your transaction request.

    Step 3 - Retain confirmation of your transaction

    If you have online transaction authority

    • Note your transaction reference number.
    • Download a copy of the Full Summary for your own records. 
    •  

    If you do not have online transaction authority

    • Note your transaction reference number.
    • Download a copy of the Authorisation form to provide to your client to sign. Once completed, return the form to Colonial First State via e-Post. Note: you can use our Digital Communications Tool, AdobeSign, or DocuSign to obtain an electronic signature for the Authorisation form.
    • Download a copy of the Full Summary for your own records.

  • You can use the new switch tool for the following products:

    • Managed Investment funds
    • FirstChoice Wholesale Investments
    • FirstChoice Investments
    • FirstChoice Wholesale Personal Super
    • FirstChoice Personal Super
    • Managed Investments

    And over time, will be added to the new environment.

     

    The FirstNet Adviser classic environment will allow you to continue switching
    between:

    • FirstChoice Wholesale Personal Super
    • FirstChoice Wholesale Pension
    • FirstChoice Wholesale Investments
    • FirstChoice Employer Super
    • FirstChoice Personal Super
    • FirstChoice Pension
    • FirstChoice Investments
  • Yes, you can now rebalance investments without performing a switch. To do so, go to the Transact tab and then Rebalance Investments.

    Please note, this functionality is still in development and is currently available for Super and Investment accounts only (and excludes Employer Super).

  • For any form that has the pre—fill functionality enabled, the pre-fill checkbox will automatically
    appear for you to select. Please note, 4 forms are supported for now, with more to follow in the future. These forms are:

    • Withdrawal (FC Wholesale Pension)
    • Withdrawal (FC Pension)
    • Change of details - Pension Payment update
    • Notice of intent to claim a tax deduction

Whats next?

You’ve told us what’s important to you, and we’re continuously building solutions to improve your digital experience with us. We’re working hard to digitise your most common transactions and processes and in the coming months you’ll see interactive forms, real–time processing and digital consent.

The content displayed on this page is intended for financial advisers only