BT commits to remaining in wealth
BT Financial Group has committed to staying the course in the wealth management business despite the exit of some of its major competitors including National Australia Bank (NAB) and ANZ.
Speaking on a panel at the Financial Services Council Leaders’ Summit in Melbourne, BT Financial Group chief operating officer, Andrew Walker said the business was remaining in wealth because the needs of its customers had not changed.
“Their needs have not gone away,” he said. “We are committed to remaining in wealth.”
Earlier, IOOF managing director, Christopher Kelaher had told the panel that he regarded wealth as being integral to being a financial services provider.
He said that the far from diminishing, the demand for advice had heightened and “represents a significant opportunity for a group like ours”.
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