BT adds gearing tool to Wrap
BT has added a gearing tool to its Wrap platform, prompted by a record 45 per cent growth in its margin lending loan book to $3.5 billion as of June 30, this year.
Geared Wrap is an “integrated technology solution that provides planners and clients with easy access to the benefits of gearing”, according to BT head of product development Jeroen Buwalda.
“An effective and efficient gearing platform tool becomes more important as more investors use gearing to grow their investment portfolio.”
The tool enables advisers to “select a funding strategy on behalf of clients, as well as nominate a draw-down strategy and choose where to allocate proceeds”, Buwalda said.
“It can help planners achieve a better diversification and manage any potential risks for clients, and ultimately to increase their wealth.”
Offering straight through processing, the tool gives planners easier access to key information, faster trade vetting and transaction processing, increased choice and flexibility and easier payments,” he said.
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
