BT launches dedicated adviser hub, BT Open Services

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New adviser registrations to BT Panorama have grown 35 per cent, since the launch of BT Open1

BT Panorama FUA is up 85 per cent from 12 months ago2

BT Panorama FUA up $1.4 billion since BT Open launch3

1 November 2018 - BT has launched a dedicated adviser hub, BT Open Services, offering advisers and licensees a range of services to support their advice practices.

This follows the launch of BT Open in July which included the introduction of significant pricing changes across investment platforms and the launch of BT Panorama Compact, an offer which provides all of the benefits of BT Panorama, with a simpler investment menu.

BT Open Services is open to all advisers and licensees irrespective of whether they have a relationship with BT platforms.

Head of BT Open, Phil Butterworth said, “BT Open Services offers advisers and licensees with access to BT services and negotiated rates with third party providers to support advisers’ business capability.”

BT Open has a simple pricing framework for adviser services, with advisers paying for the services they choose to use.

Practice owners, advisers and support staff can register online to access a range of practice services including AFSL transition support, ASFL responsible manager support, customisable client marketing, technical support, governance support as well as insights and a schedule of educational and networking events. In addition, advisers and practices can benefit from negotiated pricing with third party service providers. These third parties provide services including research, compliance support, training, professional indemnity insurance and advice software support.

Mr Butterworth said, “We know advisers can spend a lot of time sourcing different services and third party providers which can be time consuming for their business. BT Open Services improves efficiencies by bringing together these services in one hub, so advisers can focus on what they do best, helping clients and running their business.”

“We’ve unbundled the traditional adviser services offering so advisers can pick and choose services to support their practice. We will broaden the offer over time as we continue to meet the preferences and needs of advisers and licensees” Mr Butterworth said.

In addition self-licensed businesses have the opportunity to join the BT Open Principals’ Community, where they can be part of a network of advice professionals which encourages collaboration, peer-led learning and provides access to professional development opportunities.

“BT has a long history of supporting advisers, and is proud to have partnered with hundreds of advice businesses over the years. And the introduction of BT Open Services is the next step in supporting advisers and licensees to successfully run the wealth practices of the future” Mr Butterworth said.

1 As at 22 Oct 2018, since 23 July 2018

2 From $6.7 billion in September 2017 to $12.4 billion in September 2018

3 As at 22 Oct 2018, since 23 July 2018