BT Panorama FUA hits $49b

BT-Panorama/BT-Wrap/platforms/

29 March 2021
| By Chris Dastoor |
image
image image
expand image

BT Panorama has hit $49 billion in funds under administration (FUA) due to over 38,000 BT Wrap client accounts being transferred over in the past week.

Once all BT Wrap accounts had been transferred, which was expected to be completed by the middle of the year, BT Panorama would have an estimated $90 billion FUA.

Kathy Vincent, BT managing director – platforms, investments and operations, said BT began transferring BT Wrap accounts to BT Panorama with a pilot in December last year and the most recent transfer was the largest to date for the platform.

“We are proud to bring the BT Panorama to more advisers and their clients including flexible investment options, in-depth reporting, a customised online experience, mobile app, a broad range of managed account solutions and digital creation and client consent for Records of Advice,” Vincent said.

Pricing arrangements for clients transferred to BT Panorama remained the same or were reduced.

“This is a significant change and BT has a large, dedicated technical and customer service team supporting advisers,” Vincent said.

“It will be the end of an era as BT Wrap was the first of its kind in Australia when it launched more than 20 years ago but we look forward to delivering BT Panorama’s enhanced user experience to more Australians.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

3 weeks 6 days ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 3 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

2 weeks 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3