BT managed accounts crack $16bn

BT Panorama said it now hosts more than 400 managed accounts, having added 94 to the platform in the 12 months up to 30 April 2024.

Along with the expanded offerings, BT’s managed accounts products have reached $16 billion funds under administration (FUA), boasting a 31 per cent increase over the same 12-month period. Managed accounts now represent 14 per cent of the BT’s total FUA of $111.3 billion.

BT head of managed accounts, Zac Leman, said the new products help expand advisers’ access to wider investment solutions, allowing them to better serve their clients.

“We continue to build our offer for advisers on BT Panorama, to meet adviser demand for managed account solutions. The new additions just from this year demonstrate the breadth of products that are available on the platform,” Leman said.

“In particular, the various risk profiles of the diversified options cater to the needs of advisers who are looking for an efficient way to manage the investments of a wide-ranging client base.

“It’s been a busy start to the year and with a strong product pipeline, we expect to see continued growth in managed accounts.”

In the 2024 calendar year so far, BT has added new managed accounts from Vanguard, Watershed Funds Management, and Quilla Consulting, including diversified accounts, tailored solutions, and environmental, social and governance accounts.

Vanguard has launched its Diversified Managed Account Strategies on BT Panorama, a multi-asset portfolio construction solution that is available on BT’s full and compact menus.

The offering has four risk profiles available, allowing a simple and efficient construction process for advisers to meet the needs of their clients.

Rachel White, Vanguard Investments Australia’s head of financial adviser services, said the new additions allow them to meet the needs of advisers and their clients.

“We are excited to make this announcement, as the addition of our Diversified Managed Account Strategies on BT Panorama represents a significant expansion of Vanguard’s managed account offer via new distribution channels,” White said.

“Most importantly, it reflects the growing demand from advisers for gaining greater access to our diversified solutions.”

BT added that advice firms can also add tailored solutions, such as William Buck Wealth Advisers, which has recently launched a suite of three diversified portfolios on BT Panorama.

Adrian Frinsdorf, director, wealth advisory at William Buck, said: “We’ve dealt with BT for decades. The team has shone, assisting us with the implementation of our portfolios and working very collaboratively to provide a great solution for us and our clients.”