BT Panorama now has more than $10 billion in funds under administration, partly attributable to IFA demand.
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.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 25 May 2018‘Never been a better time’ for advice: MorningstarBy Killian Plastow
- 25 May 2018ASIC takes former AFSL director to courtBy Reporter
- 25 May 2018Henderson Maxwell owner launches investigationBy Aleks Vickovich
- 25 May 2018CBA issues update on AUSTRAC proceedingsBy Reporter
- 25 May 2018Employers granted unpaid super amnestyBy Jessica Yun
- 25 May 2018Bernardi backs bank withdrawal from wealthBy Aleks Vickovich
- view all