BT boosts platform service with online calendars
BT Financial Group has improved the functionality of its Wrap Platform for financial advisers with the addition of online corporate actions and initial public offer (IPO) calendars.
The new facilities are a market first and will allow transactions regarding IPOs, rights issues, bonus issues, and dividend payments to be processed electronically rather than manually, as has been the practice to date.
Advisers can now process transactions for up to 100 clients at a time via the new service, and can combine market information with that of their individual clients.
“Keeping up to date with opportunities is becoming more difficult for advisers, and the amount of time spent participating in them is increasing,” BT head of product development Jeroen Buwalda said.
“The online corporate actions calendar and IPO calendar on Wrap will make it easier and faster for advisers to manage their clients’ participation in market offers by providing one central online source for information and participation,” he explained.
The financial services firm developed the new tools in a direct response to financial planner feedback it received.
Apart from streamlining the transaction process, the calendars give advisers the benefit of having access to a central online library for all corporate action and IPO information, and a facility to easily monitor the progress of particular transactions and prepare client and business reports.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
