FirstChoice secures Midwinter platform integration

Patrick Buncsi

21 August 2024

Users of Midwinter’s financial planning platform AdviceOS will have a direct data link-up with Colonial First State’s (CFS’s) FirstChoice platform, with the pair unveiling a new integration capability.

AdviceOS joins Iress’s Xplan as a FirstChoice data integration partner, with the link-up promising seamless data exchange between the planning platforms and CFS’s wholesale investment and superannuation platform.

The integration functionality, built in collaboration with integration tech developer Elemnta, delivers an up to 80% reduction in setup time for new and existing FirstChoice accounts.

Advisers, through the integration, are promised “timesaving” pre-population of up to 15 forms, simultaneous set-up of multiple accounts, and a “secure and simple” digital consent process.

Paul Dunn, chief executive APAC at Bravura, developer of the AdviceOS platform, welcomed the new Midwinter integration, noting that it would “[remove] the back-office drag associated with connectivity and account opening”.

“Together, we are working to transform the industry through digitalisation and digitisation.”

FirstChoice unveiled its integration capability, in partnership, with Elemnta last November, enabling integration with Iress’s Xplan platform.

The integration capability has been recognised by SuitabilityHub’s ‘Platform Market Wrap’ as one of the top integration and automation innovations of the year.

CFS chief executive of superannuation Kelly Power welcomed the “significant enhancement” to the FirstChoice platform that would give advisers “more time to focus on their clients”.

“At CFS we are focused on providing advisers with best-in-class technology which has a measurable impact on their operational efficiency so that they can do what they do best, helping their clients achieve their financial goals,” Power said.