BT Financial, the wealth management arm of the Westpac Group, has unveiled the first phase of its new SMSF offering, which will enable advisers, accountants and their clients to work together on the establishment and management of SMSF accounts via its BT Panorama platform.
Slated to launch in early 2016, the new solution, called BT Panorama SMSF, will deliver access to a range of investment options available on BT Panorama, which are expected to streamline the fund establishment process for individual trustees.
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The solution will feature administration capabilities that will allow advisers, accountants and clients to access the documents and statements required to manage the fund.
It will also include a secure online document library, the production of individual member contribution statements and the ability to upload external assets onto the platform for a whole-of-fund view.
In addition, the offering will also feature contribution categorisation, two-way data feeds between accounting software and BT Panorama as well as ability to grant accountant and clients real-time view.
BT said that Panorama will now offer a complete investment menu with the addition of listed securities to its options, including BT Cash, Term Deposits, Managed Portfolios and Managed Funds.
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By GlobalDataBT General Manager, Platforms and Operations John Shuttleworth said: "SMSF clients don’t suit a ‘one-size-fits-all’ approach, given the diverse range of needs and preferences that these clients have. Recognising this, BT Panorama delivers SMSF clients a flexible solution where advisers can pick and choose what works for their clients and their business model.
"Managing an SMSF involves collaboration between accountants, advisers and their clients so we have built a system that brings them together.
"With the launch of our SMSF offer and the ability to trade a wide range of ASX equities and Exchange Traded Funds (ETFs) BT Panorama is now attractive to a whole new set of clients," added Shuttleworth.
