BT rounds off manager selection group
BT Financial Group has appointed the seventh and last member of its Investment Management Selection Group, former Intech senior portfolio manager Chris Thompson.
Thompson will be responsible for choosing and monitoring Australian equity and listed property trust managers engaged by BT.
BT’s Investment Management Selection Group was established last October, for the purpose of developing a multi-manager product to be distributed through Westpac Financial Planning services.
BT already has a strong relationship with Intech, which is responsible for selecting the underlying managers and the portfolio construction of multi-manager funds used by BT, including the recently released International Shares High Opportunities Trust.
“BT will continue to offer the Intech constructed multi-manager products. In addition, the Investment Manager Selection Group will be responsible for building a proprietary set of multi-manager funds to be distributed through the Westpac Financial Planning Services channel. Chris will be a key contributor to this project,” BT head of investment manger selection Stewart Brentnall said.
BT currently invests over $14 billion with external managers, largely through strategic alliances with the likes of Intech, Putnam, BlackRock, Grosvenor and AEW.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
