BT Launches Adviser Register

BT Financial Group has launched a new register that enables clients to rate their satisfaction with their financial adviser, as part of a range of initiatives aimed at raising standards in the financial advice sector.

‘Adviser View’ is a new, online pubic adviser register, which includes client satisfaction ratings and comments. Accessible via www.btadviserview.com.au the register covers advisers in the Westpac, St George, Bank of Melbourne and BankSA networks.

Using the register, clients have the ability to rate their advice experience based on four questions. Responses will be shown on the register as a one-to-five star rating against each question for each adviser.

Also included within the register are:

• The advisers’ education, qualifications, specialities and current license (all qualifications are verified by independent verification agency, First Advantage)
• The ability to search for advisers by name, postcode and speciality
• A free-text section for clients to provide qualitative feedback about their adviser

BT’s general manager of Advice, Mark Spiers, said: “Adviser View is an important and immediate step that lifts the visibility of our advisers and their qualifications. The five star client satisfaction rating system is a bold move that adds even greater transparency of our advice network.

“Finding a financial adviser is ultimately about finding a professional who can help you bring your goals and dreams to life.

“It is a highly personal relationship. The power to search, share and compare financial advisers and feel comfortable with them before you have even met them, gets this relationship off to the best possible start,” he added.

Advisers in the Securitor, BT Select and BT Licensee dealer groups will be added to the Adviser View register within the next few weeks. Further, Adviser View will link to the new Australian Securities and Investments Commission (ASIC) national advice register once it is operational.

In addition to increased education and professional standards for its adviser network (see: Large Institutions Move of Advice Standards), BT has also released a new ‘Advice Commitment’, which details the service and standards clients should expect from their advisers.

“We have always held our advisers accountable to our high service, compliance and professional standards, but we acknowledge clients want to see this commitment in writing.

“Our high education standards are the backbone to our strong service offering. They provide the capability behind the promises in our Advice Commitment,” Mr Spiers said.