Enhancing client interactions and business efficiency
Rapid technology changes have prompted new ways to connect with clients, resulting in greater transparency and smoother client interactions.
Digital engagement is a core feature of BT Panorama with our digital consent and integrated Record of Advice (RoA) functionality.
Your guide to embracing digital tools in your practice
Download our new playbook, ‘Five key digital tools for a profitable advice practice’ to understand how BT Panorama can assist you to enhance efficiency and client engagement with resources your business already has.
Streamlining client consent on BT Panorama
Gaining client consent can be a slow process that traditionally requires administrative effort from both adviser and client. Additionally, in some circumstances, supporting advice documentation such as an ROA needs to be incorporated into the consent request.
BT Panorama offers a digital consent workflow that assists in seeking, receiving and then executing client instructions – enabling clients to quickly and easily provide their consent via digital channels.
Clients can provide consent for a range of actions including:
- Setting up nominated bank accounts, BPAY, or ‘Pay anyone’ accounts
- Investment transactions
- Corporate actions
- Adding or updating advice fees
Efficiency
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Save time - by minimising client follow-up (e.g. when overseas or on holidays) and reducing paperwork and double handling
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Reduce risk – including errors and timing risks impacting portfolio rebalancing
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Service more clients - by reducing unnecessary face-to-face meetings
Engagement
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Transparency – the client can feel more involved through better visibility of the process
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Evidencing value – it’s easier for clients to see the value you're adding, helping build a stronger adviser/client relationship
Digital consent how-to guide: adding bank accounts and billers (PDF 6.4MB)
Digital consent how-to guide: investment orders and RoAs (PDF 5.96MB)
Digital consent how-to guide: corporate actions (PDF 2.3MB)
Digital consent how-to guide: advice fees (PDF 2.3MB)
2. Prepare supporting documentation online
- Create your own digital RoA using your RoA Licensee template or our default template
- Attach to your request, along with any other supporting documents
3. Request consent by email, SMS or both
- Choose how to contact your client
- Set an expiry date
- Schedule an automatic reminder email
4. Client receives request and responds online
- Your client logs onto BT Panorama using their desktop or the award-winning2 BT Panorama mobile app which gives them access anytime, anywhere
- Views the ‘Consent requests’ page which displays any pending requests
- Reviews the consent request details which may include an RoA and other supporting documents
- Authorises online
5. Response received digitally and transaction executed automatically
- You receive notification that your client has responded
- In the case of, say, an investment order, you have the choice of either automatic or manual submission
6. Upload of consent/advice documents
- RoA documents and other advice documents are automatically uploaded to your client’s document library on Panorama
- If you use Iress Xplan, and you’ve set up auto data feeds from BT Panorama, the daily data feed also includes digital consent information e.g. date, time, who provided consent as well as the RoA and other associated documents
Tools to help you engage your clients digitally
We’ve developed a number of tools to help you make the most of BT Panorama’s digital features and create a more streamlined experience for your clients.
Client guide: Responding to a digital consent request (PDF 7.6MB)
A digital marketing guide for financial advisers (PDF 6.92MB)
BT Panorama Advised Investor Series - Digital consent process (1:35)
Digital consent with integrated ROA (48:27)
Visit our interactive training portal to access online courses that cover a range of topics including the additional technology features that you can leverage on BT Panorama including; portfolio construction options, document library, and third party access.
Speak to a BDM
Find out more about digital engagement using BT Panorama’s smart technology.
1. KPMG ‘Post-COVID-19: Insurance and wealth sector consumer trends’ report, 2020
2. As at October 2021.
3. Investment Trends Adviser Technology Report, 2021. Digitally engaged = used 4 or more digital channels such as digital signature tools, client mobile apps and online meetings.
This information is for use by advisers only. It is not to be copied, used, reproduced or otherwise distributed, circulated or communicated to any retail client or any other party. The information provided is general in nature and does not take into account any client’s personal circumstances, objectives, financial situation or needs, and its appropriateness should be considered before it is acted upon. Independent professional financial and tax advice should be sought and considered by any client before making any financial decisions in relation to the matters discussed hereto.
While all reasonable care has been taken in preparing this information, to the maximum extent permitted by law, no member of the Westpac Group, its affiliates and related bodies corporate, and their respective officers, directors, employees, professional advisers and agents, accept any responsibility or liability in relation to the accuracy or completeness of the information in this document, or any loss arising from its use. No representation or warranty is given as to the accuracy © BT - Part of Westpac Banking Corporation.
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