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SMSF Service Provider Awards 2014 – BT Wrap: Investment platforms

As well as new product offerings, we also continue to focus on and improve the functionality and services that are important to advisers and their clients, like an efficient year end – across BT Wrap and Asgard we have delivered over 90 per cent of tax statements by the end of September.

The delay of financial services regulations has made a significant impact on advisory businesses. The approach taken by BT Financial Group (BTFG) has been to not only collaborate with its advisers to enhance its platforms, but to fully support them with the looming industry changes.

“Advisers continue to require support implementing the legislation into their businesses,” BTFG acting head of platforms Lisa Gavin says.

“We regularly engage with advisers who use our platform, listen to what they have to say and enhance our offering accordingly.

“Our customer-centred design approach to product development means our advisers are involved throughout the research and build phases as we test our offer and adjust based on their feedback.”

Gavin says Asgard Infinity eWrap is a testament to this process.

“[It’s] built with advisers for advisers and continues to be enormously successful,” she says.

“As well as new product offerings, we also continue to focus on and improve the functionality and services that are important to advisers and their clients, like an efficient year end – across BT Wrap and Asgard we have delivered over 90 per cent of tax statements by the end of September.”

BTFG experienced strong adviser demand for platform solutions over the past 12 months.

While the group retains the largest market share in the industry and its funds under administration (FUA) grew by 19 per cent across its BT and Asgard investment platforms in 2014, Gavin says complacency is not an option.

“We do not take our number one position in the market for granted and we are continuously reviewing our performance and offer against market needs,” she says.

“The financial services industry has been through unprecedented change over the last few years and BTFG has the scale to enable us to deliver the right solutions and support to advisers and their clients.

“Our platforms business continues to grow and specifically on BT Wrap we have seen 46 per cent FUA growth from SMSF clients over the last four years.”

Receiving the investment platforms award for the first time, Gavin attributes the win to team effort.

“Our teams across the BTFG platforms business work closely together to focus on the adviser and client need and respond effectively,” she says.

“This award is testament to BTFG constantly seeking to enhance our current marketing-leading platform solutions, BT Wrap and Asgard.

“It is very exciting and a well-earned recognition of the client benefits that can be achieved using a platform as an SMSF solution.”

BTFG recently launched its model portfolios on BT Wrap and will announce new additions to BT Wrap and Asgard’s menu options later this year.

It is also investing a large amount of resources in building its future offering, BT Panorama, and has released the BT cash functionality to be followed by managed accounts in 2015.

“Change is constant. We need to be ahead of the curve,” Gavin says.

“That’s why we are investing in BT Panorama to support the advice businesses of the present and future.”

Westpac head of SMSFs Chris Lumby accepted the award on the night.

Award winners

  • Class Super: SMSF accounting software/administration
  • Cromwell: Property
  • Macquarie: Cash and term deposits
  • FIIG Securities: Fixed income
  • Westpac: Residential property loans
  • CommSec: Australian shares
  • TAL: Insurance
  • BT Wrap: Investment platform
  • Magellan: International shares

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