BT Panorama is now Australia’s largest contemporary investment platform with $49 billion of funds under administration (FUA).
More than 38,000 BT Wrap client accounts have been transferred to BT Panorama in the last week, increasing FUA by 30%. Once all BT Wrap accounts have been transferred (completion is expected by the middle of this year), BT Panorama will have around $90 billion FUA.
Kathy Vincent, Managing Director, Platforms, Investments and Operations, said BT began transferring BT Wrap accounts to BT Panorama with a pilot in December last year and the most recent transfer was the largest to date for the platform.
“We are proud to bring the award-winning features of BT Panorama to more advisers and their clients including flexible investment options, in-depth reporting, a customised online experience, mobile app, a broad range of managed account solutions and digital creation and client consent for Records of Advice”.
Pricing arrangements for clients transferred to BT Panorama remain the same or are reduced.
“This is a significant change and BT has a large, dedicated technical and customer service team supporting advisers.
“A big thank you to all the advisers and dealer groups who have chosen BT as their platform provider of choice and all the work they have done in preparation for the transition to BT Panorama,” Ms Vincent said.
BT is the largest platform provider in the country with a total platform market share of 19.4 per cent1 .
´It will be the end of an era as BT Wrap was the first of its kind in Australia when it launched more than 20 years ago but we look forward to delivering BT Panorama’s enhanced user experience to more Australians,” Ms Vincent said.
1. Plan for Life, September 2020
Media Relations, BT
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