BT Panorama is set to surpass $15 billion in funds under administration with a 75 per cent increase in netflows since it introduced simple open platform pricing in July last year. The firm’s FUA were up by $3.6 billion, an increase of 32 per cent, while netflows grew between August to December to $814 million from $466 million. BT Panorama also increased its number of active advisers by 35 per cent, while customer accounts grew by 33 per cent.
The company noted it is now experiencing quarterly and annual FUA growth of 15 per cent and 85 per cent respectively. BT Panorama saw quarterly and annual netflows of 30 per cent while other platforms with positive netflows fell from the June quarter. Kathy Vincent, general manager, Platforms and Investments at BT Financial Group said the firm opening up its pricing has been a game-changer.
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