BT Panorama rolling out new features

BT Panorama said that there will be enhancements to its service request tracker and mobile app as well as improved client reporting over the coming months.

“We’ve listened to advisers’ feedback and we’re delivering on our service promise by investing in BT Panorama and providing updates that may help advice practices with efficiency,” said Matt Rady, chief executive of BT.

According to the results of a recent BT Adviser Sentiment Index survey, the majority of the more than 200 advisers who responded cited rising cost bases and pressure on profitability (83 per cent of all respondents) as well as deteriorating economic and market conditions (86 per cent) and legislative and regulatory changes (86 per cent) as their top three challenges.

“While market conditions and the evolving regulatory landscape are external factors, what is most certainly in our wheelhouse is delivering improvements which may help advisers achieve greater efficiencies, reduce costs and ultimately spend more time focusing on servicing their clients,” said Mr Rady.

“At BT we’re prioritising the updates to our platform technology that can make significant impacts.”

The upcoming raft of updates to BT Panorama, the business said, will include its service request tracker being expanded so advisers can request digital consent for most forms that are submitted online.

BT added that visibility of requests on account closures will also be improved later in the year, allowing advisers to track the request from the initial validation stage, through to asset selldowns, and final payments.

While the BT Panorama mobile app was updated in early July to give advisers and investors the ability to request Centrelink schedules, in September, it will be updated again to include Investor Panorama News. This will encompass product updates and enhancements, year-end and process cut-off dates, webinars, more investor notifications, and the service request digital consent enhancements.

BT is also introducing a new bulk client reporting feature, which it said would “allow advisers and support staff to create up to 20 reporting groups, develop customised report packs and generate a suite of reports for multiple clients – to help advice practices save time”.

In order to support the growth of managed accounts, which BT said make up $14.8 billion or 14 per cent of total FUA on BT Panorama, there will be a new reporting capability tailored for investment managers to access a range of portfolio and business reports directly online.

“During volatile conditions, investment managers of managed accounts can execute investment decisions efficiently and respond to fluctuations in the market swiftly, at scale,” said Mr Rady.

“In addition, managed accounts may enable advice practices to save time. As more advisers realise the efficiencies of implementing managed accounts, we expect steady growth to continue.”