I think it was late last year when they disclosed that they are indeed working on this feature with various mutual fund providers. At least now, one need not open various accounts with the brokers, just this one Col Financial account, and still have access to various funds with diverse performances.
One just has to access this tab which can be easily seen in the home page.
Before buying, one will have to take the obligatory risk assessment questionnaire first (similar to UITFs) before posting one’s orders. The assessment will give out a list of funds that are matched with the assessed risk appetite. In case one wants to buy funds that are beyond the assessed risk appetite and capacity, one simply needs to tick the waiver box and signify that s/he is aware of the additional risk taking.
I haven’t bought one yet and still exploring the offerings. Information per fund includes minimum first investment, succeeding investment amounts, fees and charges, and more importantly, the holding period and historical performance per fund. Pretty much all the information you need in a mutual fund. Some links still feel glitchy or lagging in response, which I assume shall be improved as this portion of the site matures.
Still, this is certainly good news for those who are itching to diversify in other funds but don’t know where and how to start. Risk on!
I just downloaded the COL Financial app for Android, and frankly, it does not look too good. I still prefer the web browser-based look, maybe because I’ve been used to it for 8 years now.
To download, just access the website through your android phone, click on the “Downloads” link at the home page, then voila!.
It will need more familarization to use this app, and I’m not really sure whether I’ll use it since I do most of my trades using a laptop anyway. Looking forward to more improvements on this app.