CFS launches new offering to support advice business growth

On Monday, Colonial First State (CFS) launched CFS 10X, a new program designed to support financial advice practices to grow their business.

CFS said that 10X comprises four key pillars: Your Business, Your People, Your Clients, and Your Expertise.

The program gives practices access to online educational resources, expert opinions and ideas about the industry, and consistent support.

Through CFS 10X, practices are connected with a business development manager to help them establish personalised business goals and identify potential challenges and growth opportunities.

CFS group executive of distribution Bryce Quirk said CFS 10X would give advisers access to the right education, expertise, community, and opportunities to see them achieve their goals.

“This year, CFS will be using both research and practice case studies into the key drivers of business growth to help advisers unlock opportunities,” Mr Quirk said.

“Driving efficiency, achieving scale, and expanding your tech capabilities are just some of the areas CFS 10X will be exploring with practices this year.”

Overall, CFS said the goal of 10X is to help businesses understand where and how they can improve their efficiency and professional processes to produce better results for their clients.

“We all know that advisers are looking for practical solutions when it comes to people management and developing a high-performance team,” Mr Quirk said.

“We also know that practices are eager to understand how they can automate their processes to unlock efficiencies and provide even better service to more clients.

“This is why one of the first events we’ll be launching through CFS 10X will give advisers access to peer benchmarking, insights and solutions from an industry-wide research study into practice management and productivity.”

In partnership with CFS 10X, Elixir Consulting conducted a national research study to understand what’s working well and what’s holding firms back from reaching their highest potential.

The research focused on back-office operations in firms that impact the effectiveness of businesses and client experiences.

Elixir Consulting founder and managing director Sue Viskovic will expand on the research findings in a national webinar on 28 February, hosted by CFS.