Kathy Vincent

Australian Retirement Trust (ART) has unveiled a streamlined suite of choice investment options across superannuation and retirement products, available to members from 1 July 2024.

Members of ART will be able to choose from 15 carefully constructed choice investment options that cover a broad range of objectives and investment timeframes to best meet their goals and life stages.

ART Chief of Retirement, Kathy Vincent, said the fund engaged its members, advisers and employers to co-design the innovative investment menu.

“When we asked our members what they wanted most in a new investment menu, they told us performance, fees, sustainable investing and the ability to choose the right level of risk were top priority – all of which remained front of mind when we worked to streamline these choice investment options,” said Ms Vincent.

“Today’s announcement is great news for our more than 2.3 million members and is the next step in the evolution of Australian Retirement Trust, giving our members the best of both legacy investment worlds.

“As part of this, we’re aligning the risk profiles of our MySuper offerings for Super Savings and QSuper account holders. This means Super Savings account holders will have more of their money invested in growth assets for longer, which is expected to have higher returns over the long term for members of all ages.

“Streamlining our investment menu also means that from 1 July 2024, our competitive Growth investment option, that we’re renaming High Growth, will be open to all members. This option delivered a return of 8.95% p.a. over 10 years to 31 December 2023, securing the number one spot in the SuperRatings SR50 Growth Index over that period,” she said.

Ms Vincent said the impact an investment choice can have on members’ retirement savings cannot be underestimated.

“We believe these changes are in the best financial interests of our members and that no matter what level of experience they have in investing, our simplified menu will empower them to make the right choices so they can retire well with confidence.”

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Russell Brinkley

BT has announced the return of Russell Brinckley, who is joining the business as the Head of Platform Strategy and Development.

Mr Brinckley returns to BT after close to two years at FNZ Australia where, as Head of Solution Consulting, he led a team of wealth technologists, defining and delivering platform capabilities for some of the industry’s newest market entrants.

In his new role, Mr Brinckley is responsible for leading and delivering product development in alignment with the platform’s market strategy, as BT continues its focus on supporting advisers to run efficient practices, no matter their business model.

Prior to FNZ, he had a 20-year career at BT, culminating with him leading a multi-year platform simplification program. Russell was instrumental in the development of the BT Panorama platform and the foundation delivery of its managed account offering. Over the following decade, he played a key role in delivering new platform features onto BT Panorama, focused on supporting advisers to service their clients and grow their businesses – including the launch of BT Open, which set the industry standard for fee transparency.

Mr Brinckley said: “I’m excited to be back at BT. With the recent announcement by Westpac to retain the platforms business, and its commitment to invest in BT, I look forward to leading the development of key initiatives for BT Panorama, designed to enable quality financial advice to thrive.”

Kathy Vincent, BT’s Chief Strategy and Product Officer, said: “We are delighted to welcome Russell back into the fold. With his deep knowledge of advice delivery and product development, he is a highly regarded expert in the platforms industry. Russell’s broad industry experience will help to fortify BT’s position as a market leader and financial advisers’ platform provider of choice.”

BT has $140.3bn in funds under administration, with 16.8% market share.^[1]

Mr Brinckley works alongside the Strategy and Product leadership team, reporting to Kathy Vincent, and commenced on 9 August 2023.

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[1] According to Plan For Life Platform Wrap Report, March 2023; platforms market excluding corporate superannuation

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Kathy Vincent

Australian Retirement Trust (ART), one of Australia’s largest superannuation funds, has announced the appointment of industry veteran Kathy Vincent as Chief of Retirement.

Following a global search, Kathy will join ART in the newly created role completing the Fund’s new executive structure announced in March, to best position the Fund to deliver on its vision to be Australia’s most chosen and trusted retirement partner.

Kathy brings more than 30 years’ experience in the finance industry across a variety of product, strategy and advice executive roles. Kathy spent more than 18 years at Macquarie Group, and has also held senior roles at MLC, National Australia Bank and most recently BT as the Chief Strategy and Product Officer.

As Chief of Retirement, Kathy will focus on the execution of ART’s retirement strategy, providing strategic leadership and guidance across all elements of the Fund’s retirement offering, including product, service model and advice.

ART Chief Executive Officer Bernard Reilly said creating the dedicated retirement function and Kathy’s appointment in the Chief of Retirement role is critical to the Fund’s ongoing delivery of market leading support to its members up to and through retirement.

“At Australian Retirement Trust, we see the purpose of super as creating a retirement income stream along with other retirement benefits for the 16 million working Australians, that’s why retirement is in our name,” said Mr Reilly.

“We are facing into a pivotal time for the superannuation industry, with increasingly more Australians shifting from accumulation into the retirement phase over the coming years and we want to support our 2.2 million members across Australia to retire well with confidence.

“Kathy’s experience and knowledge of product, strategy and financial advice will be a valuable asset to Australian Retirement Trust and our members.”

Kathy added: “Given the growing needs in this space, it’s a really exciting time to be focussed on supporting Australians up to and through their retirement, and I’m thrilled to join Australian Retirement Trust.

“Australian Retirement Trust has an ambitious vision and through its retirement income strategy, a solid foundation to support members in retirement. I’m looking forward to joining a profit-for-member fund and supporting members through all stages of their superannuation journey.

“It’s important that we deliver and continue to shape that strategy as the fund grows across all demographics, and I’m excited to work alongside Australian Retirement Trust’s experienced executive team in service of our 2.2 million members.”

Kathy will commence in the role in December 2023.

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Matt Rady

Westpac has announced it has concluded the sales process for BT Platforms. Westpac will now retain and continue to invest in the business to aggressively compete in the platforms market.

BT is one of Australia’s leading platforms providers with $131 billion funds under administration As at 31 March 2023    . It supports more than 350,000 investor accounts and has relationships with almost half of Australia’s financial advisers, with more than 7,800 active advisers using BT’s platforms. c.16,000 ASIC registered financial advisers as at 31 March 2023

Following the merger of BT’s personal and corporate superannuation with Mercer earlier this year, BT is now also a simpler business focused on platforms.

Matt Rady CEO, BT said: “BT is a vibrant brand with more than 25 years of leadership in platforms and is now a simpler, better business.

“We will continue to invest in features to improve the adviser and investor experience based on feedback from dealer groups and advisers, including our leadership in digital capability and managed accounts as we transform the way we deliver service.

“To give advisers more time with their clients, delivering time-saving features for advisers and practice staff is a priority. We have already delivered initiatives including the BT Panorama Online Service Request Tracker, advice fee consent simplification, increase in client payment limits, Design Distribution Obligation (DDO) tools and a significant upgrade to the mobile app including the addition of the chat bot ‘Blue’.

“And these initiatives are being well received, for instance, BT Panorama Online Service Request Tracker has seen a strong take up and positive feedback with over 18,000 unique users and 2,800 advice practices now using the service with usage growing 34% in the last six months November 2022 to May 2023.

“We are continuing to grow our broad investment propositions, including our managed accounts offering and expanding our wholesale investor fund menu.”

Mr Rady said BT offers strength, security and confidence to its advice partners. “With the market increasingly focused on data security, Westpac’s technology capability and security provides advisers and investors with additional peace of mind”.

“The BT brand is synonymous with supporting financial advice, and I am really excited to take the business into a new era, as we continue to support quality financial advice to thrive,” said Mr Rady.

Mr Rady also thanked BT Chief Strategy and Product Officer, Kathy Vincent, who has decided to take up a role outside of BT.

“Kathy has made a defining mark on our business, having led Platforms through a significant period of transformation, including the exit of financial advice, supporting our advisers and members through COVID and migrations and guiding BT through its risk maturity journey.

“Kathy will be with us for some months, and we wish her well when she leaves later this year.”

Highlights BT platforms:

• 7,800 (unique) active adviser relationships
• Over 350,000 investor accounts
• $131bn in funds under administration (FUA)^[1]
• Number #1 platform provider by market share^[2]
• Number #1 for adviser relationships – BT Panorama^[3]
• Awarded Best Client Portal and Best Mobile App – five consecutive years^[4]
• Logins to the BT Panorama mobile app reaching 2.3 million in the past 12 months to May 2023, making up 44% of all logins
• Awarded the Highest Quality Platform rating, Chant West 2022 – BT Panorama

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[1] As at 31 March 2023
[2] BT market share 17.1% – Plan For Life Platform Wrap Report, December 2022, excluding retail corporate super
[3] According to advisers surveyed, Investment Trends, May 2022, Adviser Technology Needs Report: Industry Analysis
[4] Investment Trends Platform Competitive Analysis and Benchmarking Report, 2022, 2021, 2020, 2019 and 2018 – BT Panorama

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Jason Brown

BT has appointed Jason Brown to lead its platforms’ distribution team as it continues to invest in BT Panorama’s digital capability, platform features and managed accounts offer.

Mr Brown has more than 30 years’ experience in financial services and has been an integral part of BT for 14 years across business development and account management. He’s a passionate and values-driven leader who has a reputation for fostering enduring advice practice relationships as well as guiding high-performing, motivated and connected teams.

Kathy Vincent, Chief Strategy and Product Officer at BT said “Jason is the right fit for the team at the right time. He has enormous respect with our people and advisers and has demonstrated strength in his leadership skills through market volatility, changing economic environments, as well as rapid growth and change”.

Jason Brown said “BT is an innovative and adaptable business with a strong brand and it has been my privilege to be part of the development of the platforms business to where it is today. I look forward to continuing to work with our dedicated team and the advisers and practices who have entrusted us to be the custodians of their clients’ wealth, as we invest in our award-winning BT Panorama platform”.

Mr Brown will be responsible for leading the 70 strong distribution team in continuing to build and drive BT Panorama’s leading position. A part of this will be the amplified focus on supporting advice practice professionals and BT’s online and face-to face time with advisers – both in providing practice development, regulatory and technical education events, as well as listening to and acting on adviser feedback.

BT has $130.8 bn funds under administration (FUA) across its platforms As at a 31 March 2023. BT Panorama has $102.1 bn in FUA, and the highest number of adviser relationships in Australia BT Panorama has the largest number of adviser relationships in the industry, with 40% market share according to Investment Trends, May 2022 Adviser Technology Needs Report: Industry Analysis, p.8. with more than 6,000 active advisers now using the platform.

Mr Brown has been acting in the role since December 2022 and was most recently Head of Account Management at BT. His appointment brings strength and stability to a dynamic team ready for its next exciting chapter.

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Rachael Dickinson

BT has announced the appointment of Rachael Dickinson as its new of Head of Marketing, to lead the businesses digital and customer experience marketing strategy as BT fortifies its agenda to become the undisputed partner of choice as it looks to separate from the Westpac Group.

Rachael joins BT with over 18 years’ experience in financial services marketing roles and brings with her extensive experience leading through significant change, including leading the brand and digital transformation for the proposed demerger of AMP Capital Private Markets. Rachael joins BT from her most recent role as Global Head of Marketing, Brand, Digital and Media at AMP Capital.

Kathy Vincent, BT’s Chief Strategy and Product Officer said “I am delighted to welcome Rachael to BT. She has exceptional experience across marketing disciplines and deep knowledge of financial services with a local and global perspective.”

“Rachael is a highly regarded professional in her field and joins BT at an exciting time as we shape the BT of the future and continue to invest in the contemporary BT Panorama platform and provide enhancements and services that advisers and their clients value,” Ms Vincent said.

BT is the leading Australian platform provider with $149.8bn in funds under administration, and 18.0% market share^[1].

Rachael will work alongside the Strategy and Product leadership team reporting to Kathy Vincent and commences on 5 September 2022.

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[1] 1Plan For Life Platform Wrap Report, March 2022, excluding retail corporate super.

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Kathryn joins BT with more than 20 years’ experience in platforms product and operations roles. Kathryn is a high calibre product professional and brings with her experience leading through significant change, including MLC’s merger with IOOF. Kathryn joins us from her most recent role as Insignia Financial’s Head of Wrap Platforms.

Kathy Vincent, BT’s Managing Director, Platforms & Investments said “I am delighted to welcome Kathryn to BT. She has an impressive track record in putting advisers and their clients first and I look forward to her passion and commitment in helping BT Panorama to become the undisputed platform of choice in Australia”.

“Kathryn is a well-regarded and highly disciplined leader and joins BT at an exciting time as we shape the BT of the future and continue to invest in the contemporary BT Panorama platform,” Ms Vincent said.

BT is a leading Australian platform provider with more than $130bn in funds under administration.

Kathryn will work alongside the Platforms & Investment leadership team, including the other newly created role Head of Strategy and Product Development. This appointment will be announced soon.

Kathryn will commence with BT from 4 May and Ms Vincent thanked Daniela De Zotti Head of Platform Management and Implementation for acting in the role whilst recruitment has taken place.

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Kathy Vincent

For the fourth year running BT Panorama has been awarded best mobile platform and best client portal by industry research house Investment Trends.^[1]

In its latest Platform Competitive Analysis and Benchmarking Report, Investment Trends also rated BT Panorama’s integration features highly,^[2] such as the integration of Sustainalytics, which allows advisers to compare ESG options and access investment commentary in the research hub.

The product range available on the platform, especially insurance reporting and unlisted investment transactions, were also rated as superior against those on other platforms.

Transaction tools such as for account management and in relation to managed accounts were highlights; and the platform’s security features such as online permissions were standouts, with BT having made back-end improvements in 2021 to enhance cybersecurity.

Undergoing a mobile app refresh last year and experiencing a surge in usage due to the migration of BT Wrap accounts, the BT Panorama platform saw logins surpass 1.2 million in the last quarter of 2021, 62% of which were via the mobile app.

BT Managing Director, Platforms and Investments, Kathy Vincent, said that BT is committed to retaining the lead in the mobile space, given a key driver of adviser advocacy is the quality of an investment platform’s mobile app, according to Investment Trends.^[3]

“We are constantly listening to advisers’ feedback on how we can improve their digital experience as well as their clients’. It’s pleasing that the mobile app refresh and other enhancements we have recently rolled out have resonated,” said Ms Vincent.

A range of enhancements implemented in 2021 and planned for the year ahead, centre on making the digital interaction between clients and advisers more efficient, such as the incorporation of advice fees and client consent into the onboarding process. Advisers can also view what their clients see on their mobile app, helping to facilitate adviser-client conversations. “We have a continued focus on enriching the digital interaction between advisers and their clients,” Ms Vincent said.

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[1] Investment Trends Competitive Analysis & Benchmarking Report, December 2021 2
[2] Investment Trends Competitive Analysis & Benchmarking Report, December 2021
[3] Investment Trends Adviser Technology Needs Report 2021

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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.

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

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Kathy Vincent

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 cent.*

“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.

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*Plan for Life, September 2020

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