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A new wrap platform from CFS is coming soon

Colonial First State (CFS) has appointed FNZ, one of the world’s leading wealth management platform providers, as our new technology partner to launch a new wrap platform in late 2022.

The agreement will see CFS launch a new wrap platform in Australia combining FNZ’s state-of-the-art technology and a range of business services to deliver a market-leading proposition for financial advisers and their clients. As part of the new partnership, CFS and FNZ will use their combined strengths to significantly grow CFS’s market share in the Australian wrap platform sector.

This marks the next stage of the $430 million investment we’re making to improve our products and services over the next four years - offering advisers and clients a significantly improved service experience, and giving advisers the tools they need to deliver the best advice to their clients.

Who is FNZ?

FNZ is a global wealth platform that provides many of the world’s leading financial institutions with a unique integrated end-to-end software, technology infrastructure, and investment operations platform in 18 countries across Asia Pacific, Europe and North America. Trusted by more than 150 major financial institutions, FNZ has over $2.1 trillion in assets under administration, which represents the combined savings and investments of over 20 million customers. In Australia, FNZ has grown rapidly in recent years with over $70 billion in assets on its wealth platform service.

Work is underway to launch in late 2022

The new wrap platform is expected to be open to new business by the end of 2022, with a focus on delivering enhanced:

Importantly, CFS and FNZ are already working directly with a group of advisers to design the new platform to ensure it is built to make it easier to for advisers to deliver advice to clients. 

Resources to help you and your clients

We have a range of resources with more information about the announcement and to help you update your clients.

What's next?

Further details will be announced closer to the platform’s launch, including more information about our plans for migrating current FirstWrap clients onto the new platform by the end of 2023.

Want to know more?

If you’d like to know more about this announcement, contact your local Business Development team, who are available to answer any questions you have.

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