BT says it has recently introduced new insurance features on BT Panorama to support advisers with administering timelines, relating to Protecting Your Super legislation, in a more efficient way.
BT notes that:
- Advisers can access an up-to-date insurance report which can sort client accounts in order of urgency which BT says saves advisers time and helps them to act quickly if necessary
- Clients can now elect to keep their insurance by logging into their BT Panorama account via their desktop or mobile app. Clients can also make a contribution or a rollover into their account so it ceases to be inactive.
Other features see the company:
- Automatically sending nine-month, 12-month and 15-month inactivity notices to clients who have not made a contribution or rollover into their account over those periods
- Advisers will receive alerts letting them know which of their clients have received inactivity notices.
BT also announced that for the third year running, its Panorama mobile app achieved the highest ratings from advisers surveyed, according to the latest Investment Trends Planner Technology Report.
BT says that nine out of ten advisers who use BT Panorama rated the app as ‘good’ or ‘very good’, positioning it as the clear market leader (90 percent for BT Panorama vs 79 percent for its closest competitor and 63 percent for the industry).
…better control over the administration of ongoing advice fees…
BT also states that in anticipation of new regulations being introduced, it has recently added a feature which gives advisers better control over the administration of ongoing advice fees.
Advisers can set start and end dates for ongoing advice fees on BT Panorama, and receive email reminders 30 days prior to a fee ending. They can also schedule a fee to start when another fee stops, “…giving certainty and control over their fee arrangements, and saving them from manually entering fee end dates”, the company says.
