On Wednesday, 20 April, BT Panorama reported a 112 per cent growth on pcp for funds under administration (FUA), recording $105 billion.
It also saw a 57 per cent increase on managed accounts FUA ($10.9 billion) due to increasing adviser demand, while 10 new managed portfolios were added to the platform in the March quarter alone.
As of March 2022, BT Panorama boasts 6,069 active advisers and 236,742 active accounts; an increase of 105 per cent.
In a statement, BT Financial Group chief executive Matt Rady said the results show that “2022 has seen the value of advice brought into sharp focus”.
“Locally, businesses continue to see supply chain disruptions and staff shortages, particularly in the services sector. The ‘hot’ property market has begun to slow as affordability becomes stretched and analysts are forecasting four cash rate hikes by the RBA before the end of the year,” Mr Rady said.
“The recent federal budget and upcoming election add additional complexity.
“The significant uncertainty we have seen this quarter reaffirms just how important the work advisers do to help Australians have their best financial futures. I am passionate about BT being the partner of choice to help advice practices thrive.
“The future is bright.”
Meanwhile, ESG-focused managed portfolios FUA also jumped by 130 per cent on the back of the Lonsec diversified suite of managed portfolios, launched in November last year.
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
