BT Compact Wrap and Wholesale Plus Funds are hitting the mark with advisers and investors, providing a low-cost offer for clients with modest balances and less complex needs.
More than $200 million has already been invested across the Wholesale Plus Funds which are available on BT and Asgard platforms including BT Compact Wrap.
Kelly Power, Head of Platforms, BT Financial Group said BT Compact Wrap gives advisers and their clients a simple fee structure with reduced investment costs and access to popular well-rated funds, an important combination for clients.
“BT Compact Wrap was quietly released late last year and we have seen sharp pick-up from advisers,” Ms Power said.
According to Investment Trends 2014 Planner Technology Report the number one driver for advisers switching platforms was high fees*. BT Compact Wrap offers administration and investment for under 100 basis points.
“Advisers have told us they need solutions for a range of clients: those starting out, cost conscious investors and those with straightforward needs who don’t currently need full advice but may in the future,” Ms Power said.
Launched in November last year, BT’s Wholesale Plus Funds series has increased its menu to 39 popular funds rated either ‘recommended’ or ‘highly recommended’.
“Again it is advisers and their clients that are driving the development of this offer and the low administration fees and diversity are key attractions.
“With access to 39 well-rated and popular funds covering all major sectors, advisers can build a diversified portfolio at a very competitive price,” Ms Power said.
Many of the funds are included in research house model portfolios. A full list of the funds currently available can be found here.
