BT Financial Group's (BTFG) business-to-business adviser support service, BT Select, has recruited 78 authorised representatives since its launch in April.
"The offering is being well received and our messages have been resonating so strongly that [BT Select managing director Phil Butterworth] is flat chat," BTFG advice general manager Mark Spiers told InvestorDaily.
"We've recruited a number of high-calibre, like-minded, highly aspirational professional practices who want to be part of a community and contribute to a peer group."
Spiers said BT Select's message was resonating with those who were looking to spend more time with their clients, who wanted to grow and be more effective in their business, and know its value.
However, while practices were reviewing their current partnerships, they would only move "if all the dots line up", he said.
"We know that we have to earn the right to their business and we have to deliver every day to those practices that are part of us," he said.
"Our currency and our success is only as good as the delivery we do every day to meet that right."
BT Select was focusing on a particular segment of the market: growth-oriented practices looking to break out of their current position and turn the threat of regulatory change into opportunity, he said.
"But they also need to have that cultural fit and want to be part of a community, not lone rangers," he said.
In addition, BTFG understood it must earn the right to an adviser's business, he said.
"I know our competitors are doing a whole lot of other [changes], but I think we have an incredibly strong proposition that's resonating and getting great take-up," he said.
"Our strategy is clear, we know exactly what we've got to do and we're just staying the course. We hold ourselves on review every day as the market and the feedback we get are dynamic, so there are always opportunities to improve and become stronger."
BT Select has capped its community at 120 practices, expected to be filled in the next three to four years.
