The head of SMSF at Westpac-owned BT Financial Group said he has a “very clear mandate” to broaden the relationship the big four bank has with its existing SMSF clients.
Westpac to build on SMSF relations
Speaking to AccountantsDaily's sister publication, SMSF Adviser, Craig Lawrenson explained Westpac has existing relationships with more than 100,000 SMSFs, and that he has been charged with broadening and supporting the nature of those relationships through BT Panorama.
“I’m extremely excited by the opportunity of driving the SMSF business for BT and leveraging our strong history on the investment administration side [as well as] all our strong relationships with advisers,” Mr Lawrenson said.
In December last year, the first phase of the SMSF offering for BT Panorama was officially launched, enabling advisers, accountants and SMSF investors to collaborate on the management of SMSF accounts.
Mr Lawrenson said the take-up and progress of the first phase release went “as planned”.
“We’ve done a lot of work with our advisory relationships, so we’re very comfortable with the uptake, and certainly working on developing pipelines of opportunities,” he said.
“We are very comfortable with our current market position.”
The second phase is set to be released within the next few weeks, Mr Lawrenson added.