My Dealer Services inks CFS deal to boost technical support

More than 400 financial advisers part of My Dealer Services’ (MDS’) network are set to receive improved and high quality technical support after the self-licensing provider secured an educational partnership with Colonial First State (CFS).

The deal would see the self-licensing service provider’s advisers operating under 110 AFSLs gain access to CFS’ FirstTech technical services team and real-time updated online ‘strategy guides’ across topics in superannuation, tax, self-managed super funds (SMSFs), aged care, social security and estate planning.

The partnership also offers access to other content produced as part of CFS’ FirstTech offering, including podcasts, webinars, monthly bulletins and fact sheets.

“Our educational partnership with CFS is a great example of how we [are adding value by providing a wider range of additional services],” MDS Head of Strategy, Ashley Mahadeea, said.

“We go out on behalf of time-poor smaller adviser groups and find the best and most innovative providers in their field to support them as needed at competitive rates.

“Over the coming months, we will be launching additional services and reaching out to more advisers to share our core belief that self-licensing is nothing more than removing a layer to allow advisers and practices to run their business their way, with the client front and centre of everything they do.”

MDS Director and Founder, Alexander Euvrard, said the initiative was another step forward in implementing MDS’ growth strategy, in terms of both growing its adviser network and the support offered.

The partnership with CFS follows in the wake of MDS linking up with Australian fintech, Claras, earlier this year to provide its advisers with an artificial intelligence (AI)-powered tool to produce accurate and secure file notes from recorded client conversations. MDS also collaborated with paraplanning and administration services provider, Broker Support Global (BSG), to provide members with onshore Statement of Advice (SOA) support.

“CFS is delighted to partner with MDS to help advisers deliver great outcomes for their clients,” CFS Executive Director of New Business, Chris Mather, said.