BT reinforces platform pricing
BT has sought to reinforce the importance of the recent changes to the pricing structure of its BT Panorama Platform via research it commissioned with Chant West.
The Chant West research compares Panorama against other platforms in the market such as Macquarie Consolidator, MLC Wrap, AMP North, HUB24, CFS FirstWrap Plus and netwealth under a range of balances from up to $1.6 million and concludes Panorama is cheaper.
BT’s reassertion of the importance of its new pricing model has come barely a week after the interim report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry questioned the validity of some platform pricing models.
BT said it believed the Chant West research had shown that its move to transparent platform pricing was highly competitive across a number of account balances, even when factoring administration fees, trustee fees and expense recovery costs offset by interest earned.
The company reinforced that the new pricing was available to all advisers and their clients and that the structure was available on BT Wrap, Asgard and eWRAP and accessible by existing customers.
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.