Announcing the milestone yesterday, BT said in a statement that the growth on the company’s flagship platform has more than doubled in the past year, up 138 per cent or $5.4 billion.
There are over 3,500 advisers and 21,750 investors registered on BT Panorama, said the statement.
BT Panorama has also seen strong uptake among IFAs, with a 279 per cent increase in new active accounts by non-aligned advisers.
“[We have] doubled the number of IFA registered advisers (up 108 per cent), with a 128 per cent increase in FUA from IFA practices,” said the statement.
BT chief executive Brad Cooper said the completion of the advised BT Panorama offer in March 2017, which included integration with super and insurance, has driven much of the growth.
“While we’re extremely proud of what BT Panorama has achieved to date, we continue to listen to and act on the valuable feedback we’re receiving from investors and advisers,” Mr Cooper said.
How much is sitting in cash/TDs? They don’t charge a fee for this.
Terrible product. They built it up with such hype and made us wait…. wait….wait. Then completely missed the mark on both price and usability.
$10 billion…..its needs to get to $1 trillion for the $1b BT have/are spending on it to make commericial sense.
They probably moved their staff super onto the platform. They did this with BT Super for Life, and were crowing about the wonderful success of BT Super for Life.
Smoke Mirrors and reality
Wait a minute, does this include the amount of money transferred by BT from it’s other platforms onto Pano? And is it talking Pano the administration system or Pano the platform (they both share the same name AFAIK)? I know I shouldn’t let the truth get in the way of an interesting story though.
It would be interesting to know what % of BT’s business comes via non Westpac aligned advisers.
CFS recently said they get 70% from non CBA aligned advisers.