BT boosts service after FUA passes $20bn

BT Panorama has seen funds under administration pass $20 billion, boosted by transfers from customers new to BT, leading the firm to commit to a series of service improvements.

Since the launch of BT Open pricing in July 2018, BT Panorama saw a 78 per cent increase in funds under administration from $11.2 billion to $20 billion a year later. The firm said almost 70 per cent of this was from customers new to BT.

Active advisers, those who had onboarded and registered to BT Panorama with an open adviser position, increased by 48 per cent during the year.

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As a result of the growth, the firm boosted its functionality to improve the features available to advisers. These included record of advice integration with Xplan, an SMSF dashboard, account level model construction and improvements to household reporting.  

BT’s general manager, platform, investment and operations, Kathy Vincent, said: “The latest enhancements are a combination of boosting stability across the platform to improve overall performance and adding new features to help advisers deliver advice to their clients efficiently.

“Change in the industry is unprecedented and now more than ever advisers need intuitive technology that helps them support client engagement through detailed reporting, quality data feeds, online functionality and processes that limit room for compliance errors through re-keying. These things are a necessity, not just nice to have.”

Further enhancements to the service were planned during the next quarter including the ability to construct nested investment options by enabling the use of Separately Managed Accounts (SMAs) within other SMA models.




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