POWERED BY MOMENTUM MEDIA
BT Panorama partners with fintech
BT Financial Group has gone live with its retail superannuation administration functionality by partnering with international fintect company, Avaloq.
The functionality was launched within BT Panorama.
BTFG said it had previously relied on multiple legacy systems to undertake administration functions but this new functionality would allow them to migrate to a more cost effective, single platform.
The ability to meet complex tax, regulatory, and compliance requirements associated with administration in the personal super segment formed part of BTFG’s ongoing Panorama project, which has now acquired 3,442 self-managed superannuation funds and 3,035 registered advisers since its initial cash hub launch in 2014.
Avaloq Asia Pacific general manager, Peter Scott, said the partnership demonstrated Avaloq’s commitment to the Australian market.
“The go-live of our Superannuation functionality within BT is a major step in the completion of the Avaloq wealth proposition for the Australian market. This new functionality will also open potential opportunities for Avaloq in other superannuation pension markets such as the UK and the Netherlands,” he said.
Avaloq regional director, Nick Frolich said the platform providers were adapting to keep pace with regulatory changes and demand from clients and their advisers.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
