BT Panorama hits $100bn funds under administration

From

Kathy Vincent

BT has announced it has completed the final tranche of its BT Wrap migration to BT Panorama – taking BT Panorama’s total funds under administration (FUA) to over $100bn.

A final additional 49,000 accounts, totalling more than $15bn in FUA, have now moved on to the new digitally-enabled platform. The migration commenced in December 2020 with a small pilot group and, in less than six months, more than 150,000 accounts and more than $56.6bn FUA have transitioned. BT Panorama now has the highest number of adviser relationships in the market according to Investment Trends’ latest survey.[1] There are over 9,000 registered advisers on BT Panorama.

Kathy Vincent, BT’s Managing Director, Platforms, Investments and Operations, said “the migration has been an enormous undertaking, not only for BT, but for the dealer groups and advisers who are embedding a new system into their businesses, at an extremely important and busy time of year. We would like to thank them for their support during this period.”

“We are excited about welcoming the 2,000 advisers who have just migrated to BT Panorama, and helping them realise the benefits of using the more advanced technology. Our teams are focusing on providing support to help onboard new advisers and investors in navigating the system, with digital guided journeys, webinars, FAQs and our chat-bot Blue working around the clock. We have also put on additional contact centre staff.

“The completion of the migration from BT Wrap is a historic moment; BT Wrap was the first of its kind when it launched over 20 years ago, and now BT looks forward to making its leading contemporary platform available to more financial advisers and their clients,” said Ms Vincent.

Investment Trends findings[1]

Investment Trends’ research places BT Panorama in the number one position for overall brand association for the first time, with advisers perceiving the platform as competitive, feature-rich and innovative.

Advisers continue to rate BT Panorama’s mobile functionality highly, with its mobile app securing the top ranking for the fourth year in a row. Advisers have also rated the platform number one for online planner functionality and online transaction capability.

“The latest insights from Investment Trends indicates that advisers perceive BT Panorama as the tech leader across several fronts. Advisers’ and clients’ preferred way of engaging with our platform is via their mobile devices, so getting the online experience right is absolutely critical to attracting new users and gaining their loyalty,” said Ms Vincent.

Key highlights of BT Panorama

  • Reached $100bn
  • Winner best mobile platform four years in a row
  • Number 1 for overall brand association
  • Number 1 for online planner functionality and online transaction capability
  • Highest number of adviser relationships
  • Over 9,000 registered advisers with more than 2,000 new advisers introduced to BT Panorama for the first time through the migration from BT Wrap
  • More than 230,000 customer accounts
  • Migration is just the beginning

“We want to thank all our partners – the dealer groups and advisers who have supported BT and we are committed to continual improvement of the platform to ensure they can harness the technology to suit their business models. And our next area of focus will be on extending the digital capability of our award-winning app and reporting features even further,” said Ms Vincent.

———

All figures quoted are as at 30 June 2021.
[1] Investment Trends Adviser Technology Needs Report, May 2021.

You must be logged in to post or view comments.