BTIM exclusivity agreement with BTFG removed
The master relationship agreement between BT Investment Management (BTIM) and BT Financial Group (BTFG) has been extended to March 2015, although the investment manager’s exclusivity rights have been removed.
The master relationship agreement has been extended until March 31, 2015, but changes to the agreement mean that BTFG can appoint investment managers other than BTIM in relation to its funds and BTFG can also make withdrawals where it is seen to be in the best interests of investors.
BTIM stated that it recognises that this is consistent with BTFG’s fiduciary obligations to its investors and current market practice.
There has been no change to the fees charged by BTIM, although a formal fee review has been implemented.
Recommended for you
After seven years at the company, Iress’ chief technology officer for wealth management APAC, Anthony Gerrits, has departed as the firm commences a search process to fill the role.
With advice firms thinking about scaling up in 2025, research has detailed the main avenues financial advisers say they have used for successful recruitment.
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
