The sale of Commonwealth Bank of Australia's (CBA) Avanteos wholesale wrap platform has been placed on hold after discussions with prospective buyers failed.
"We did not reach mutually acceptable commercial terms with the parties and as such potential sale discussions have concluded," a CBA spokesperson said.
"We remain committed to continuing to invest in the business ... This means that Avanteos continues to operate in a business as usual mode."
In early 2007, CBA commenced a strategic review of its platform operations.
In March, Colonial First State chief executive officer Brian Bissaker confirmed the group would concentrate on the larger Colonial First State-run FirstChoice platform, rather than allocating capital across two businesses.
According to the InvestorSupermarket database, the Avanteos platform has just over $5.1 billion in funds under administration as of March 31, down from $11.2 billion on December 31.
In December, Avanteos topped the third annual Platform Report by research group Investment Trends.
