BT Panorama reaches $13 billion in FUA; introduces digital Record of Advice and enhances reporting

3 mins

BT Financial Group (BT) has announced it has reached $13 billion in Funds under Administration (FUA) and added further enhancements to its flagship investment platform, BT Panorama. New functionality includes mobile digital consent for corporate actions, digitally enabled Record of Advice (ROA) generation, and enhanced reporting to help advisers deliver timely, and compliant advice to clients.

BT Head of Panorama Product Development, Anil Sagaram said introducing continual improvements and putting adviser needs at the forefront of new platform functionality is key to supporting advisers and their clients and increasing the efficiency of the advice process.

"We are pleased to see BT Panorama’s success continue with an acceleration in adviser registrations, up 56 per cent in the past year. We are investing in digitisation and introducing new features and functionality that increase both advice efficiencies and client engagement. We want to ensure we continue to meet the evolving needs and preferences of clients and advisers," Mr Sagaram said.

Through BT Panorama, advisers can now generate a digital ROA which automatically pre-populates with client and transaction information which is securely stored on BT Panorama, saving advisers time and reducing potential errors caused by re-keying client information. The ROA and digital consent requests can be created in bulk for corporate actions, reducing the risk of mistakes and making the end to end process more efficient. The client approval and the ROA are both securely stored on BT Panorama providing an online compliance record.

These enhancements follow the rollout of digital consent capability for bank account establishment and trading in July this year. The features are also available via the BT Panorama mobile app enabling advisers and clients to interact on the go.

BT Panorama’s reporting functionality has also been enhanced with improvements to client investment holding reports, summary views, cash statements, asset allocation and performance reporting.

According to the 2018 Investment Trends Planner Technology Report, advisers are evolving how they use technology in their practices, and digital client engagement will be the norm for the next generation of advisers1.

Mr Sagaram said: "We know building business process efficiencies is a key area advisers are concerned about2 and we are listening to the adviser community and making enhancements to meet these needs. The core BT Panorama platform is now in place and the technology landscape is moving quickly making it easier to meet these needs."

BT Panorama continues to gain momentum generating rolling annual net flows of $4.9b to June 20183 ahead of the majority of platforms. BT Panorama FUA is up 65 per cent4, registered advisers have increased to 4,960, and registered client accounts have increased 91 per cent to 31,107 in the past twelve months.

BT Panorama remains one of the fastest growing platforms in Australia ahead of its rival contemporary platforms5.

"Our aim is to provide innovative technology solutions to help advisers adapt their businesses for the future. We are also maintaining our focus on our core platform capabilities such as year-end reporting and data feeds," said Mr Sagaram.

1. 2018 Investment Trends Planner Technology Report
2. 2018 Investment Trends Planner Technology Report building business process efficiencies (40% cited this)
3. Strategic Insights June 2018
4. From $7,876 billion on 25 November 2017 to $13.036 billion on 25 November 2018
5. Strategic Insights June 2018 – BT Panorama was the second fastest growing platform (Managed Accounts Holdings was the fastest growing) for the twelve months to June 2018. 

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Georgie Hay
M: 0404 892 199