Class identifies BT as growth leader

3 min read

Class has identified BT as having strong platform growth in 2016 according to the company’s most recent Self-Managed Super Fund (SMSF) Benchmark Report.

BT’s platforms have been identified as an ‘exception’ in growing its leading position from 41 per cent to 46 per cent of all platform assets on Class Super, by comparison the proportion of other institutional platforms fell from 47 per cent to 40 per cent, despite growing in absolute terms, the report says.

BT’s Head of SMSF Craig Lawrenson said: “We believe platforms play a really important role for SMSFs. The simplicity and ease of use of BT’s platforms provide a clear value proposition to financial advisers and their clients.

“Our leading platform BT Panorama extends our offer to SMSFs providing an end to end solution including fund establishment, investment administration and fund administration. Its modular design also allows users to pick and choose what services work best for them.

“Since its launch, we have seen strong SMSF interest on BT Panorama, with over 2,400 SMSFs already using its services” Mr Lawrenson added.

SMSFs on–platform have higher average balances and greater investment diversification

The report also noted that among the SMSFs that use platforms (Platform SMSFs) the average balance is $1.4 million, $200,000 more than the industry average of $1.2 million with significantly more exposure to international shares and fixed interest.

Trend to more SMSF assets on-platform

Platform SMSFs are also using platforms to hold more of their assets than they did two years ago, with the proportion of on-platform assets rising from 55 per cent to 58 per cent, since 2014.

About BT Panorama

BT Panorama is an intuitive and intelligent wealth operating system transforming the management of investment portfolios and SMSFs. It uses the latest design methodology to support a simple and easy user experience, and deliver a new level of efficiency for wealth management. It gives advisers, accountants and their clients’ one place to collaborate, with the flexibility to support the way they want to manage wealth.

About Class

Class was established in 2005 to develop and deliver industry strength software solutions for the Australian self-managed superannuation industry. Class Super is Australia’s leading cloud SMSF administration software. www.class.com.au

Class SMSF Benchmark Report

The Class SMSF Benchmark Report is a statistical analysis of 120,000 Self-Managed Super Funds administered on Class Super, representing more than 20% of the estimated number of SMSFs in Australia today. The quarterly Report is compiled using a selection of de-identified data extracted from across the Class Super user base.

Media contact

Nicole Webb
0466 479 673
nicole.webb@btfinancialgroup.com

Downloads

Information is current as at 23/11/2016.

Andrew Tubb
andrew.tubb@btfinancialgroup.com
0411 014 771

Lisa Parrett
lisa.parrett@btfinancialgroup.com
0432 933 796

Nicole Webb
nicole.webb@btfinancialgroup.com
0466 479 673