BT further enhances electronic processing for planners
BT Financial Group has improved the functionality of its wrap product by allowing those financial planners who use Coin planning software to export customer data directly into the BT Wrap platform application.
Specifically the change means demographic data already captured by Coin can now be imported straight onto the BT Wrap desktop application’s online forms.
The new developments will mean more efficient administration practices and more accurate reporting for advisers and their clients, as an element of re-keying of information has now been eliminated.
BT head of product development Jeroen Buwalda said: “Over the last 12 months BT has introduced a number of improvements to the wrap platform that reduce the admin time for advisers and therefore allow more time for an adviser to spend with their clients.”
Commenting on the new initiative, Coin Software managing director Tony Graham said: “Coin is excited to be working with BT to bring the promise of STP (straight-through processing) another step closer for advisers with ability to open BT wrap accounts directly from Coin. Our joint aim is to reduce the need for advisers to re-key data across Coin and BT Wrap, hence minimising errors and reducing the time needed to open wrap accounts for clients.”
The latest round of enhancements comes after previous electronic developments to the financial services firm’s platform offering including the incorporation of an online corporate actions and IPO facility, online managed funds applications, and a gearing tool.
And, according to Buwalda, further improvements will be coming in the near future that will benefit a greater part of the financial planning community.
“BT is working with other financial planning software providers to expand the straight-through processing improvements to a broader range of adviser and dealer groups,” he said.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
