CFS launches new platform for advisers

Oksana Patron

21 October 2022

Colonial First State has launched new platform for advisers called Elevate which will offer tools, resources and networks enhancing the advice industry and facilitating access to advice for a higher number of Australians.

The new “people and culture platform” would provide free training, networking events and collaboration tool and it would launch the CFS Professional Year online community hub with XY Adviser aimed at improving advisers communications as well as their access to learning and development content.

CFS said the decision to launch the platform was a result of a shrinking advice industry, which translated into issues with advice accessibility, and its design took into account advisers feedback regarding problems with meeting customers’ needs.

“We see our role as identifying and addressing gaps that are making it difficult to meet the demand for quality financial advice, and we’ve been speaking to advisers about how to make delivering advice easier. That’s how we came up with Elevate,” Bryce Quirk, CFS Group Executive Distribution, said.

He added that advisers were ‘increasingly time-poor’ and did not have the same access to human resources tools and resources like large organisations.

The platform would also provide education and personal development materials to support staff and their role in operating business effectively as well as other materials, including webinars and downloadable resources, aimed to help advisers attract and retain employees at various stages in their careers.

“Through education, thought leadership, advocacy and strategic partnerships, CFS Elevate hopes to contribute to a stronger advice industry and deliver better outcomes for Australians seeking financial advice,” Quirk noted.