Australian People’s Choice Credit Union has selected BT Financial Group as the sole wealth management partner to manage assets worth $1.2 billion.
With this partnership, 350,000 members of credit union can access BT’s financial platform for secure financial strategies that would be customized as per individual requirement.
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The collaboration is said to be on the back of increasing demand from its members and is expected to further People’s Choice financial planning capacity with planners in South Australia, Victoria, Northern Territory and Western Australia.
People’s Choice managing director, Peter Evers, said that appointment of BT was the result of an exhaustive 12-month process to identify the best possible option for our 350,000 members.
"As part of our growth strategy, People’s Choice now has a major footprint in the financial planning sector, with a team of more than 30 planners, thousands of investment and superannuation clients, and premium access to the quality resources of BT," Evers added.
"The BT partnership will not only give our planners access to BT’s world-class platform and Advance Asset Management but it will also provide a range of additional support to the operations of the business and enhance the experience of People Choice’s members."
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By GlobalDataPeople’s Choice stated that working with multiple platform providers and individual fund managers was time-consuming and confusing and with the organization’s funds under advice exceeding the $1bn mark, it decided to bring in a competitive fee structure.
