Managed accounts pass $10b on BT platform
BT has seen strong growth in use of its managed account solutions, comprising 66% of net flows to the BT Panorama platform in the last quarter.
In the three months to 31 December 2021, the firm said managed accounts funds under administration were $10.4 billion, up from $9.2 billion in the previous quarter.
Some 11 managed accounts had been added to the platform during the quarter, particularly in the sustainable space and the firm said it expected this to remain a popular area.
“More managed accounts that prioritise sustainability are expected to be added on the platform as momentum in this area increases, catering to strong investor demand and adviser interest.
“Across all of BT’s platforms, net flows into investment that prioritise sustainability have more than doubled in the year to June 2021. Furthermore, 82% of advisers are interested in environmental, social and governance (ESG) solutions for their clients, with the vast majority preferring to implement these solutions via managed accounts.”
Funds under administration on BT Panorama were $107.9 billion, up from $104.7 billion in the previous quarter.
Matthew Rady, who took over as chief executive of BT Financial Group in September 2021, said: “We will be a bold industry advocate - helping advisers to help their clients to have their best financial future. BT Panorama will be the undisputed leader in the platforms market.
“We are setting a new strategy with advisers at the heart and I look forward to leading and building the BT of the future.”
AUTHOR
Laura Dew
Recommended for you
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
