Building on BT Wrap’s efficient and seamless processes for delivering end of year statements, financial advisers now have access to a new online tool which generates an estimated release date for their clients’ statements.
The Estimator Tool uses a client’s investment portfolio composition to determine when they are expected to receive their annual tax statement. BT Financial Group Head of Platform Products Kelly Power said BT Wrap was committed to making year-end processing times and tax statement delivery as quick and easy as possible for advisers and their clients.
“BT Wrap is a leader in year-end activity and statement delivery because we are constantly thinking of new ways to improve our processes,” Ms Power said.
“We are beating our own statement delivery times year on year and expect to be first to market again this year with the first tranche of Wrap Tax Statements due out on 25 July 2012.
“We also offer our clients the option of receiving eStatements, which saves valuable time during tax season by reducing delays related to printing and delivery. This year, more than 17,000 clients have opted to receive eStatements and we expect that figure to almost double by the same time next year.
“All new tools and improvements to our year-end processes are borne out of comprehensive adviser feedback sessions to ensure we are delivering what advisers need.”
Since 2007, the number of clients on BT Wrap (including SuperWrap) has increased by about 47 per cent to more than 195,000 and in that time, statement delivery times have reduced by about 50 days.
This year, all Wrap Tax Statements and SuperWrap Annual Statements are expected to be delivered by mid-October, with more than 80 per cent of clients expected to receive their statements by the end of August.
26 July 2012