‘Setting the pace’: CFS Edge hits $1bn FUA

Officially launched on 1 August 2023, CFS said that Edge reached the milestone on 17 May 2024, less than 10 months after commencing operation.

CFS attributed the rapid growth to the high demand within the market for an integrated wrap solution that can evolve with clients’ and advisers’ needs as they continue to shift into the future, which it believes Edge has delivered.

Edge currently hosts more than 550 managed funds and 160 ETFs, has access to 16 stock exchanges and the ability to trade in 11 different currencies.

As of 22 May, the platform has more than 2,200 registered advisers, 1,600 support staff, and 380 licensees on the platform.

Bryce Quirk, group executive distribution, said CFS would continue to invest in improving the platform.

“In less than a year, CFS Edge has created a completely new platform experience for financial advisers. We are setting the pace and intend to maintain it,” Quirk said.

“Advisers can look forward to further enhancements based on their feedback and the continuous evolution of the platform over coming months.”

He emphasised the role of feedback from its “significant cohort of early adopters” and a growing number of high-net-worth advisers who are “sharing their insights on how the platform can be tailored for their practices and their clients”.

“That feedback is actioned. With a global partner like FNZ, we have the capability to optimise the platform for advisers while continuing to roll out a packed roadmap of enhancements, from additional functionality and improved user experience to further expansion of the investment menu,” Quirk said.

CFS superannuation chief executive Kelly Power also noted that the input from its users has helped drive the growth of the platform.

“CFS has built deep relationships with financial advisers over many years. Those relationships have been pivotal to the rapid growth of CFS Edge in such a short space of time. We have built an integrated platform that puts advisers in the driver’s seat,” Power said.

“Edge advisers and their clients are uniquely positioned to continue benefiting from global expertise, ongoing research and development, and the unparalleled pace of innovation that only comes from global scale coupled with CFS’ deep understanding of the Australian market.”