BT has launched its Evolution brand campaign, marking the next growth phase of the only wealth management business owned by one of the big four Australian banks, as well as a turning point for the advice industry.
Ms Rachael Dickinson, BT’s Head of Marketing, said: “Just over 20 years ago Westpac acquired BT, then around a decade later the transformative contemporary platform, BT Panorama, was launched. At every opportunity and in the face of challenges, BT has adapted to remain a market leader, and be the investment platform of choice for many financial advisers and their clients.
“We are excited about what’s next. Our new brand campaign signals to financial advisers and clients that we will remain nimble and at the forefront of technological change; we’re here to support them, and invest in the platform with the backing of Westpac.”
BT is a leader in Australia’s wealth management industry, with around 250,000 investors using its BT Panorama platform, which has over $100bn of funds under administration as of 30 September 2023.
The Evolution brand campaign uses striking nature imagery that evoke adaptability in a fast-paced environment.
BT’s primary target market, the financial advice industry, has itself undergone a transformative change, with sweeping regulatory changes and operational challenges seeing many financial advisers leave the industry in recent years.
Impending legislation based on the recommendations of the Quality of Advice Review is expected to provide greater certainty for Australia’s financial advisers, and the industry is showing signs of stability.1
“The advice industry is at a turning point,” said Ms Dickinson. “The advice practices that have remained resilient through constant change have evolved, with many making the most of platform technology to thrive. BT Panorama is continually being updated, based on advisers’ feedback, to help them manage their compliance obligations and serve their clients more efficiently.”
Recent enhancements to BT Panorama include:
- Simpler bank account verification – advice clients can confirm their external linked bank account on BT Panorama without the need for an additional verification step (called 1 cent verification). In the first month since launching, around 2,000 linked bank accounts were added via new attestation. Further, advisers can now add linked accounts to super and pension accounts after they have been onboarded; previously only clients could do this.
- Comprehensive reporting – advisers can save time by using a simple process to create report packs for multiple clients, with an improved report design that is easier to read.
- Enhanced managed accounts reporting – new online reporting capability for investment and portfolio managers to enable them to manage portfolios more effectively.
- Faster approvals – secure digital consent is now available for selected online client forms. Digital consent allows advice clients to provide consent to a range of actions, including investment transactions, corporate actions and adding or updating advice fees. This popular feature has been used by over 100,000 investors, saving them and their advisers time and paper.
Ms Dickinson also emphasised the importance of a strong service culture, alongside technology, and has launched a complementary campaign, called the People Behind BT Panorama, which is instilling a strong sense of pride amongst the BT team.
“Our people are passionate about quality advice and giving great service to financial advisers and their clients. We’re celebrating their commitment by putting the spotlight on their experience, skills and achievements,” Ms Dickinson said.
BT recently won at the Customer Service Institute of Australia’s awards, which recognise outstanding service across various industries.2
1. For example, according to the Rainmaker Information Financial Adviser Report, 626 financial advisers joined the industry in the quarter to 31 March 2023: https://www.rainmaker.com.au/research-reports/financial-adviser-report and https://www.rainmaker.com.au/media-release/financial-adviser-numbers-show-signs-of-recovery
2. BT won in the Medium Contact Centre category and was also recognised in three other categories at the Customer Service of Institute of Australia’s Awards in November 2023.
Media Relations, BT
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