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BT Panorama gains foothold with advisers

More than 1,000 advisers have joined the BT Panorama investment platform since its launch in 2014, the Westpac division's half-year results have revealed.

“New business relationships” were responsible for 60 per cent of the more than $1 billion funds under advice.

BT chief executive Brad Cooper said the platform was resonating both with the 1,363 advisers on board as well as with clients.

“We launched a new managed portfolio facility which was very well received at our national BT Adviser Forums,” he said.

“Still to come this year on Panorama is a managed funds and direct equities release, which will round out the predominant components of the investment platform, and SMSF capability will also be launched by the end of the year.”

Panorama is currently in year two of the delivery of a five-year schedule. According to the BTFG half-yearly results, expenses were up by $3 million on the same period last year, due to investment in the platform and a rise in planner numbers.