BT Panorama growth continues: adds Challenger annuities and CMA Saver

• Challenger annuities now available – integrated for a seamless online experience
• New BT Cash Management Account Saver (CMA Saver) with no transaction or administration fees
• Since 1 October 2017:
  o Funds under administration (FUA) up 74 per cent to $11.7 billion
  o 11,408 new investor accounts registered (now totalling 25,719)
  o Managed accounts growth up 99 per cent to $1.7 billion
  o Increasing independent financial adviser (IFA) interest, now comprising 32 per cent of netflows on to the platform

BT has expanded its flagship BT Panorama platform with the addition of new in-demand functionality and offers including Challenger annuities, providing an integrated solution for retirees, and CMA Saver, a cash management account with no transaction or administration fees.

Challenger annuities and CMA Saver are now available to clients and advisers on BT Panorama.

The latest additions follow a recent announcement where BT introduced new low and transparent pricing and a ‘compact’ offer on BT Panorama Investments and BT Panorama Super and an online adviser services hub, BT Open Services, due to launch in October 2018.

BT Head of Platforms Product Management, Dina Kotsopoulos, said: “To date, BT has been focussed on ensuring we have a secure, contemporary digital offering for advisers and clients, with the recent pricing changes being just the start. Having achieved that, we are now very pleased to be directing our capability and investment to ensuring BT Panorama is the platform of choice to help advisers serve the interests of their clients.”

Annuities

Challenger’s annuity range, which includes lifetime and term annuities and an aged care product are now available on BT Panorama providing integrated income options for Australian retirees.

BT Panorama’s technology provides a seamless online experience where advisers can generate quotes, complete applications, manage updates and provide maturity instructions for their clients’ Challenger annuity products all in one place.

“Having access to a retirement income solution can be an important part of any advice conversation and, through an online and integrated, easy to use solution, BT Panorama now administers Challenger annuity products to help more Australians plan for life after work,’ said Ms Kotsopoulos.

According to new research, when it comes to the importance of financial objectives in retirement, the top goal for more than 84 per cent of older Australians is accessing ‘regular constant income for essentials’ and ‘ensuring money lasts for my lifetime (80 per cent).¹

BT Cash Management Account Saver

Additionally, BT Panorama is further enhanced by the addition of the new CMA Saver, with an interest rate of 1.50 per cent², which allows clients to earn interest with no transaction or administration fees. The CMA Saver includes access to term deposits, real-time data feeds, a secure document library and the ability to turn-on access for accountants to help investors better manage their SMSF investments and administration.

BT Panorama’s current SMSF offer has online establishment capability, an extensive investment menu, as well as administration and compliance tools.

“The flexible access to a range of options on BT Panorama for SMSFs is proving popular as advisers and clients can pick and choose and utilise what works best for them.

“The addition of the CMA Saver, and the ability to link this to a BT Panorama Investments account, will be particularly useful for advisers in helping them manage their clients’ SMSF investments all in one place efficiently,” said Ms Kotsopoulos.

BT Panorama update

Managed accounts continue to rise in popularity among investors with $1.7 billion in FUA on BT Panorama and also one of our fastest growing investment vehicles for SMSFs.

The BT Panorama platform offers more than 50 professional managed account options, dozens of licensee portfolios and an increasing number of managed discretionary account (MDA) providers that are using tailored portfolio tools available through the platform.

BT Panorama has grown to $11.7 billion in funds under administration (FUA), a 74 per cent increase since 1 October 2017, making it one of the fastest growing platforms in Australia.³

“The growth of BT Panorama has been rapid with 11,408 new accounts opened since 1 October 2017 and we are particularly pleased with the continued interest from IFAs comprising 32 per cent of netflows on to the platform,” said Ms Kotsopoulos.

In July, BT launched a compact menu offering on Panorama Investments and Panorama Super, introducing a simpler investment menu, as well as new digital consent capability to make it easier for clients and advisers to manage the transaction approval process.

The new online adviser services hub, BT Open Services will launch in October 2018 and will be open to all advisers, whether self-licensed or part of a dealer group (irrespective of whether they have a relationship with BT Panorama).

Later this year, BT Panorama will provide the capability for advisers to generate a record of advice (ROA) digitally and enhancements to support wider business and performance reporting launching in November.

1 National Seniors Australia ‘Once bitten twice shy: GFC concerns linger for Australian seniors Report’, July 2018 - Importance of financial goals in retirement
2 Interest rates are reviewed regularly and subject to change
3 Strategic Insights March 2018 – BT Panorama was the second fastest growing platform (Managed Accounts Holdings was the fastest growing)

^{Important Information
This information does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness, having regard to your personal objectives, financial situation and needs having regard to these factors before acting on it. BT Portfolio Services Ltd ABN 73 095 055 208 AFSL 233715 operates Panorama Investments and administers Panorama Super.} 

^{BT Portfolio Services Ltd (ABN 73 095 055 208) provides administration services to and for Challenger in respect of Challenger annuities via Panorama. BTPS is not issuing, selling, dealing or arranging for the sale of Challenger annuities via Panorama and BTPS is not providing any custody service, any advice or any other financial service or function in relation to Challengers customers. Related parties of BTPS (like the Westpac Banking Corporation ABN 33 007 457 141 AFSL 233 714) and their representatives may be authorised to provide personal financial advice in respect of Challenger annuities via Panorama, although they would need to be appointed by clients pursuant to separate terms.}