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How can your business be more efficient?

According to Investment Trends’ Planner Business Model 2018 report, 64%1 of financial advisers find efficiency is their main challenge in business right now.

And their biggest issue in solving this problem is building efficiencies into the business process.

So, what can advisers do to overcome this challenge?


Technology provides an answer.

The same research found that 22%1 of advisers cite poor technology and systems as a barrier to improving efficiency.

BT is here to help overcome this. BT’s offerings are geared toward capitalising on technology to improve efficiency.

 

Save 12.42 hours a week with managed accounts

Additional 2018 research by Investment Trends shows that advisers say the top business benefit of managed accounts is the efficiency gain they deliver. The average user estimates they save 12.42 hours per week on portfolio management tasks.

They report spending significantly less time and effort chasing clients for signatures, discussing portfolio changes and preparing RoAs freeing up more time for more productive activities2.

The use of managed accounts is increasing rapidly. BT’s National Manager of Product Development, Russell Brinckley, puts this down to how they can help advisers seeking to save time, reduce paperwork and have more time to spend on holistic advice.

In addition to the potential efficiency gains managed accounts provide, BT’s Managed Portfolios offer gives easy access to more than 50 different portfolios covering a wide range of investment styles and asset classes.

 

Gain digital consent with the click of a button

Getting client consent takes time. Letters sent back and forth, follow up calls, and endless signatures for approval – all this slows down how long it takes to make investments and manage client accounts.

Panorama’s digital consent capability can cut down this time.

Advisers can text or email clients approval requests, which clients can then approve or decline via the Panorama app or client desktop. Follow-ups are easier too –advisers will be notified of clients’ responses or they can track the request’s progress through the new Consent Management page on the Panorama adviser desktop.

This means that advisers can seek permission to add Billers, Pay Anyone accounts and Linked accounts to clients Panorama Investment accounts with ease and efficiency. It even allows clients to approve investment orders by clicking a button, reducing transaction and processing time.

 

Access all of Panorama, anytime and anywhere

Flexible and intelligent, Panorama enables advisers to manage investment portfolios, SMSFs, superannuation and insurance on a single platform. It’s technology at its most helpful, allowing advisers, clients and accountants to collaborate seamlessly.

It’s designed for the way advisers work, making managing their business and clients’ wealth more efficiently. Which, of course, means more time doing what matters most; helping clients.

 

Find out about how BT’s award winning technology can help your business increase its efficiencies and improve client outcomes at www.bt.com.au/professional/services. With BT, the future is wide open.

 

 

  1. Investment Trends Planner Business Model Report (May 2018)
  2. Investment Trends Managed Accounts Report (Feb 2018).
    1. Q32/Q65 In a typical week, average time spent by non-users versus average time saved by managed accounts users on each portfolio management related task
      1. Preparing SoAs
      2. Keeping up to date with markets
      3. Generating reports for client reviews
      4. Investment administration work
      5. Selecting/researching investment
      6. Preparing RoAs
      7. Communicating portfolio changes to clients
      8. Following up clients for signatures/approvals
      9. Other compliance work Other activities relating to my business

 This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs. BT Portfolio Services Ltd ABN 73 095 055 208 AFSL 233715 (BTPS) administers BT Panorama. BTPS is a subsidiary of Westpac Banking Corporation ABN 33 007 457 141 AFSL & Australian Credit Licence 233714.

BT Portfolio Services Ltd ABN 73 095 055 208 (BTPS) operates Panorama Investments and administers Panorama Super. BT Funds Management Limited ABN 63 002 916 458 (BTFM) is the responsible entity and issuer of interests in BT Cash and the trustee and issuer of Panorama Super, which is part of Retirement Wrap ABN 39 827 542 991. Westpac Financial Services Ltd ABN 20 000 241 127 AFSL 233716 (WFSL) is the responsible entity and issuer of interests in BT Managed Portfolios. Together, these products are referred to as the Panorama products. A Product Disclosure Statement or other disclosure document (PDS) for the Panorama products can be obtained by contacting BT on 1300 784 207 or by visiting bt.com.au. You should obtain and consider the relevant PDS before deciding whether to acquire, continue to hold or dispose of interests in the Panorama products. BTPS, BTFM and WFSL are subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 (Westpac). Apart from any interest investors may have in Westpac term deposits or Westpac securities acquired through the Panorama products, an investment in, or acquired using, the Panorama products is not an investment in, deposit with or any other liability of Westpac or any other company in the Westpac Group. These investments are subject to investment risk, including possible delays in repayment of withdrawal proceeds and loss of income and principal invested. Westpac and its related entities do not stand behind or otherwise guarantee the capital value or investment performance of any investments in, or acquired through, the Panorama products.

 




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