In a statement, the wealth giant said it had completed the six-month project to migrate BT Wrap clients across to the new-generation platform, having moved across a final 49,000 accounts.
More than 150,000 accounts, encompassing $56.6 billion in funds under administration, had been migrated from BT Wrap over the six months and there were now more than 9,000 advisers using BT Panorama, the group said.
“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,” BT managing director of platforms, investments and operations Kathy Vincent said.
“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.”
Ms Vincent expressed her thanks to the advisers and dealer groups who had worked with BT on the migration.
“We are committed to continual improvement of the platform to ensure they can harness the technology to suit their business models,” she said.
“Our next area of focus will be on extending the digital capability of our award-winning app and reporting features even further.”
The news comes on the back of BT Panorama ranking as the top platform for mobile and app services in Investment Trends’ Adviser Technology Needs Report.
The platform was also ranked number one for overall brand association, online functionality and transaction capability in the report.
It’s a miracle it got this far. Their stupid bank account verification process has seen us basically abandon them for any client who doesn’t actively use their email or internet. Some features are excellent, others are just diabolical. I swear the more these wrap accounts, the better some of those old, simple master trusts look!
All I hear is whinging from advisers who are constantly whinging
I quite like it but I have one weird error, flagged it on June 15th and it still isn’t resolved, even though fixing it should mean ticking a single box for their IT department. They seem to be at the end of their tether due to the migration. The new FDS measures are among the most cumbersome of all providers.
Typical BT rhetoric. Been a user of Panorama for four years and they haven’t provided any of the additional features that they promised. It is a shell of the product that Wrap was and they are consolidating just to be able to sell it off to any bidder. Constantly down or unable to process transaction. Straight through processing doesn’t exist. Worst of all that these guys will get a bonus for bringing down the system in the two weeks before 30June. And they think they are helping advisers
Panorama migration has been nothing sort of shambolic. We thought the migration process was going to be difficult…it was much worse than we expected.
No new FUA from us to Panorama.
they should concentrate on the performance/issues of the platform instead of patting themselves on the back