Investments, Platforms

BT adds CoreSeries managed accounts to Panorama

BT has launched six active diversified managed portfolios on BT Panorama, which the firm said will appeal to financial planners servicing sophisticated SMSF clients.

Known as CoreSeries, the managed accounts portfolio range is designed to meet the main investment needs of clients and caters to different risk profiles.

BT head of investment product Rodney Greenhalgh said the CoreSeries portfolios are structured as separately managed accounts with no portfolio-level investment fees and a low underlying management fee between 50 and 78 basis points, with the balanced option charging 68 basis points.

Greenhalgh told selfmanagedsuper this offer is particularly suited to sophisticated SMSF investors who have been building their portfolios themselves, but are contemplating outsourcing this to a professional financial planner who operates in a practice that offers SMSF services to clients.

“I think while it’s an investment portfolio built for whichever tax structure they come through, you’re going to find that a reasonable proportion of the flows are going to be from planners supporting SMSF clients,” he said.

“[This is] given that the first offer is a range of risk portfolios which match mainstream portfolios that are in an accumulation or retirement portfolio phase an investor may be in.”

The CoreSeries portfolio offering uses retail and institutional investment strategies, provides access and transparency to external investment managers in a cost-effective structure, provides access to a national team of investment specialists and is available on both BT Panorama open and compact menus.

According to Investment Trends, when choosing between features of either cost or support as drivers for platform selection, advisers rate support as the most important factor, with 50 per cent of practitioners confirming this.

BT Panorama offers more than 100 managed portfolios across 20 investment managers. In June 2018, BT added three Australian equity portfolios managed by Antares, Lonsec and Pendal, and six new diversified portfolios managed by Morningstar.

BT intends to add more than 20 other managed accounts to BT Panorama over the next 12 months.

The financial services firm recorded a 121 per cent increase in funds under administration in managed accounts on BT Panorama for the 12 months to 30 November 2018, rising from over $908 million to more than $2 billion.

Managed accounts comprise 15 per cent of funds under management invested in BT Panorama.

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