BT Financial Group is set to enhance the functionality of its Panorama wealth operating system in the areas of portfolio construction and share trading in the second half of this year.
Speaking at the BTNext 2016 roadshow, BT head of SMSF Craig Lawrenson said: “In July this year we’re launching what we call tailored portfolios, which is the next evolution of our portfolio construction tools which really support the efficient model management and rebalancing of models across your clients.”
According to Lawrenson, one specific new facility would be the ability to exclude particular stocks not suitable for a particular client.
“There are two ways you can exclude the asset. You can either exclude the asset and add the value of that to cash or exclude the asset and pro rata the value of the asset across the remainder of the portfolio,” he explained.
He revealed the new portfolio construction features would be made available to advisers operating under a corporate managed discretionary account process.
“Why is that? Well the centralised rebalancing we have and the trades will be going directly through to the market,” he said.
“Toward the back end of this year, or maybe early next year, we’ll be able to pause that process to allow you to interact with clients to get the relevant authorisation to enable that model rebalancing to proceed.”
A further Panorama enhancement will be to the direct share trading facility of the operating system.
“Towards the back end of this year [we will have] a range of panel brokers where you can trade directly with the broker and then settle back through the Panorama account,” Lawrenson said.
“So that will initially be Evans and Partners and Morgan Stanley and we’ll have a range of partners towards the back end of this year and early next year.”
Launched in late 2015, BT Panorama is now being used by 1600 SMSFs and has 2200 registered financial advisers.
