BT

Name

BT

Legal name

BT Financial Group

Website

https://bt.com.au

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Wealth Management Platform

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Life Insurance (6311), Finance Services (6199)

akta.pro primary industry

Managed Account Platforms (Separately Managed Accounts / Customized Portfolios) (FSAHAKAC)

akta.pro secondary industry

Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms) (FSAAAMAI)

Keywords

• Wealth management platform
• Investment administration
• Managed portfolio services
• Superannuation fund management
• Financial adviser technology

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Platform Administration Fees: Tiered account-based fees charged monthly on BT Panorama accounts. Fees vary by menu type (Focus, Compact, Full) and are fixed dollar amounts regardless of account balance. Additional asset-based fees apply as a percentage of average daily account balance.
2. Asset-Based Management Fees: Percentage fees on total average daily account balance for BT Panorama managed accounts and investment products. Rate decreases at higher balance thresholds, incentivizing larger account sizes.
3. Investment Product Distribution: Distribution of managed funds, managed portfolios, and investment products through the BT Panorama platform. Revenue derived from product shelf access fees and potentially trailing commissions from investment managers.
4. Fund Management Partnership: BT generates revenue through partnership with Wellington Management for the Global Opportunistic Value Fund, accessing institutional-grade strategies for Australian advisers with minimum seven-year investment horizons.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

BT operates BT Panorama, an integrated wealth management platform for financial advisers and self-directed investors, supporting investment, SMSF, superannuation, and insurance administration across a three-tier menu architecture. The platform offers managed portfolios (SMA), tailored portfolios (MDA), adviser model portfolios, ASX-listed securities, managed funds, term deposits, and integrated cash management. BT also operates BT Invest for personal investors and distributes partner products including Wellington Management funds and Drummond Private Markets SMA.

Product overview

BT is an Australian wealth management company and part of Westpac Group, offering a platform-plus-modules architecture anchored by the BT Panorama wealth management platform. BT Panorama is a comprehensive, modular platform for advisers, planners, accountants, and self-directed investors, supporting the management of investments, SMSFs (via integrated BT Cash Management Account), superannuation (accumulation and pension phase), insurance, and retirement solutions. The platform operates across three menu tiers — Focus (simplified), Compact (mid-tier), and Full (comprehensive) — offering different scales of managed portfolios, managed funds, ASX-listed securities, tailored portfolios, and term deposits. BT's managed accounts ecosystem includes SMA solutions (BT Managed Portfolios), MDA solutions (BT Tailored Portfolios), and adviser model portfolios, alongside a curated selection of investment funds including the BT Wellington Global Opportunistic Value Fund and Drummond Private Markets SMA. Insurance cover from TAL and AIA is integrated into the platform, and BT Invest provides retail investment solutions. BT Academy provides ongoing education, whitepapers, and CPD content to support advisers.

Differentiator

Problem solved

Functional benefit

Brands

• BT Panorama: Award-winning wealth management platform for advisers providing investment, super, and SMSF administration services.
• BT Academy
• BT Invest
• BT SMSF
• BT Wellington Global Opportunistic Value Fund
• BT Wellington Global Total Return Fund

Products and services

• BT Panorama Flagship wealth management platform providing intuitive technology for advisers and investors to manage investments, SMSFs, super, and insurance from a single integrated interface. Offers digital workflows for onboarding, approvals, transactions, reporting, and whole-of-wealth views across account types, supporting managed portfolios, managed funds, ASX-listed securities, tailored portfolios, term deposits, and insurance integration.
• BT Managed Portfolios (SMA) Separately Managed Account solutions offering professionally managed portfolios across a range of investment styles and asset classes, managed by professional investment managers and accessible through BT Panorama. Reached 400+ managed portfolios with $16 billion in funds under administration.
• BT Tailored Portfolios (MDA) Managed Discretionary Account solutions where advisers create and manage custom portfolios using BT's portfolio management tools, offering a highly customisable approach for clients on BT Panorama.
• BT Adviser Portfolios Model portfolio construction solutions allowing advisers to set up and manage model portfolios with digital Records of Advice and client consent workflows on BT Panorama.
• BT SMSF Integrated self-managed super fund solution built on BT Panorama, providing access to a wide range of investment options and SMSF features including an integrated BT Cash Management Account.
• BT Super Invest Superannuation product within BT Panorama designed for individuals who want a wider range of investments for their super, supporting both accumulation and pension phases.
• BT Wellington Global Opportunistic Value Fund Contrarian value global equities fund launched in partnership with Wellington Management, providing Australian financial advisers with access to institutional-grade global value investing strategies through BT Panorama.
• BT Wellington Global Total Return Fund Global equities mandate managed by Wellington Management providing investors access to an institutional-grade global total return strategy on BT Panorama.
• Drummond Private Markets SMA First managed account dedicated to private markets on BT Panorama, enabling advisers to provide clients with private markets exposure through a separately managed account structure in partnership with Drummond.
• BT Invest Direct-to-consumer investment solution offering ready-made managed portfolios or build-your-own portfolio options for personal investors, with access to shares, managed funds, managed portfolios, and term deposits.
• Ready-made Portfolios (BT Invest) Five expertly selected ready-made managed portfolios with varying risk and asset allocation options, managed and monitored by investment experts for BT Invest clients.
• BT Panorama Mobile App Mobile application for BT Panorama available on iOS and Android, providing investors and advisers access to portfolio management, trading, cash management, and the Blue virtual assistant on the go.
• Insurance on BT Panorama Life and protection insurance available through BT Panorama, including TAL Accelerated Protection (issued by TAL Life Limited) and AIA Priority Protection for Platform Investors (issued by AIA Australia Limited), with premiums deducted from the Panorama cash account.
• Challenger Annuities via BT Panorama Annuity products from Challenger available directly through BT Panorama and via the Asset Administrator platform, providing retirement income solutions for clients.

Quantifiable outcome

• Market share of 17.2% across platforms, making BT the market leader (Plan For Life, September 2022)
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core, secondary, minor and former.

• HeffroncoreStrategic or Co-development Partner · 16 March 2026BT partnered with Heffron to support advisers as demand for self-managed superannuation funds (SMSFs) continues to see record growth. Heffron provides SMSF establishment and administration services for BT customers through an integrated partnership on the BT website.
• ChallengercoreStrategic or Co-development Partner · 2 February 2026BT identified Challenger as retirement partner to expand its offering and give Australians more ways to turn super into income for life. BT is looking to expand its longstanding partnership with Challenger to deliver a broader range of retirement income solutions on BT Panorama, including Challenger annuities.
• StriversecondaryGTM or Marketing Partner · 10 October 2025BT and Striver launched second wave of internal talent program (Career Pathways Program) as adviser shortage intensifies. Nearly doubled participation since pilot launched in 2024. Striver is a careers technology platform helping BT develop the next generation of advisers.
• Vanguard Investments Australia LtdcoreStrategic or Co-development Partner · 18 September 2025BT launched 'Focus' investment menu on BT Panorama, partnering with Vanguard as the global investment manager for diversified portfolio options. Focus is a new limited menu for clients with simpler needs, featuring lower administration fees and easy portfolio building using Vanguard's managed accounts capability.
• PreqinsecondaryGTM or Marketing Partner · 14 August 2024BT announced a strategic educational partnership with Preqin, a global leader in alternative assets data, tools, and insights. Partnership aims to support adviser demand for education on private markets through BT Academy content and resources.
• La Trobe FinancialminorChannel Partner/ Reseller/ Distributor · 13 August 2024La Trobe Financial 12 Month Term Account joined BT Panorama as an available investment option. Australian financial advisers ranked customer service in the top three most important attributes for selecting a platform provider.
• DrummondsecondaryStrategic or Co-development Partner · 23 May 2024BT launched the Drummond Private Markets Separately Managed Account (SMA), the first managed account dedicated to private markets on BT Panorama. Partnership with Drummond provides advisers access to private markets strategies for client portfolios.
• Provident AdvisoryminorChannel Partner/ Reseller/ Distributor · 29 February 2024Boutique advice practice Provident Advisory launched a range of tailored managed investment accounts on BT Panorama as part of its business strategy to achieve greater efficiency and focus on client-facing activities.
• Mercer SuperformerStrategic or Co-development PartnerBT Super, BT Super for Life products were transferred to Mercer Super on 1 April 2023. BT Super products are no longer available, with Mercer Super handling all queries and transfers from that date.

Scale indicators7 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• AMP Limited: AMP is one of Australia's largest wealth managers offering platforms (AMP Platforms), super, retirement, and advised investment products. Overlaps BT's adviser-platform business as a broader incumbent with significant legacy FUA but a wider portfolio beyond platforms.
• Mercer Australia: Mercer operates a large Australian super and wealth administration business, including the Mercer Super Trust that absorbed BT Super products in 2023. Comparable platform/administration capabilities and adviser-channel super offerings, with broader institutional focus.

Direct peers

• HUB24: HUB24 is one of Australia's fastest-growing wealth platforms serving financial advisers with super, investment, and SMSF administration, including HUBinvest, HUBsuper, and managed portfolios. Closely comparable to BT Panorama in adviser-channel technology, managed account breadth, and platform FUA scale.
• Praemium: Praemium is an Australian wealth platform and managed account technology provider serving advisers with separately managed accounts, SMSF, and investment administration. Comparable SMA technology stack and adviser-led model to BT Panorama.
• Colonial First State (CFS): CFS is a major Australian wrap and master trust platform serving advisers and retail investors with super, investment, and retirement products. Direct competitor to BT Panorama following divestiture by Commonwealth Bank; comparable FUA scale and adviser-channel model.
• Insignia Financial (formerly IOOF): Insignia Financial operates multiple Australian wealth platforms including MLC, ioof, and OnePath offering wrap, super, and advised investment solutions to advisers and retail clients. Comparable scale and adviser-channel platform business to BT.
• Netwealth: Netwealth is an Australian wealth management platform providing wrap, super, SMSF, and managed account services to advisers and investors. Direct competitor to BT Panorama in the adviser-led platform market with comparable SMA, MDA, and super functionality.
• Macquarie Wrap (Macquarie Asset Management): Macquarie Wrap is part of Macquarie Group's asset management business providing wealth platform, super, and investment administration to Australian advisers and investors. Comparable platform structure, adviser distribution, and managed account offering to BT Panorama.

Others

• AustralianSuper: AustralianSuper is Australia's largest superannuation fund with extensive in-house administration and digital member platform capabilities. Adjacent comparison as a major super platform rather than direct competitor — BT Panorama serves advisers while AustralianSuper serves members directly — but illustrates super administration scale relevant to BT's super business.

Emerging players

• Mason Stevens: Mason Stevens is an Australian investment platform offering managed accounts, SMAs, and tailored portfolios to HNW clients and advisers. Comparable platform technology and SMA structure to BT Panorama but at smaller scale and with a more HNW-skewed positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/BTFinancial
• LinkedInlinkedin.com/company/bt-financial
• Xx.com/BT_Financial
• Facebookfacebook.com/BTFinancial

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BT