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					BT’s Wrap
Rob Coombe
Head of Asset Accumulation
BT Financial Group
April 2003
BT Financial Group
                                       BT Financial
                                         Group


             Asset               Investment              Life         New Zealand
          Accumulation          Management


Product      Marketing      Distribution    Customer &      Broking
                                            Business
                                            Services




                         Wrap
BT’s Wrap platform

§   BT first launched Wrap in November 1997
§   First custodial ‘wrap’ structure in the Australian
    marketplace
§   Initially launched as a ‘Private Label’ service to
    financial advisory groups
§   Launched BT Wrap in September 2001 for
    independent financial advisers
                                                                                                             Mar-03
                                                                                                             Dec-02
                                                                                                             Sep-02
                                                                                                             Jun-02
                 Funds Under Administration




                                                                                                             Mar-02
                                                                                                             Dec-01
                                                                                                             Sep-01
                      Growth in Wrap




                                                                                                             Jun-01
                                                                                                             Mar-01
                                                                                                             Dec-00
                                                                                                             Sep-00
                                                                                                             Jun-00
                                                                                                             Mar-00
Growth in Wrap




                                                                                                             Dec-99
                                                                                                             Sep-99
                                                                                                             Jun-99
                                                                                                             Mar-99
                                                                                                             Dec-98
                                                                                                             Sep-98
                                                                                                             Jun-98
                                                                                                             Mar-98




                                                                                                                      Source: BTFG
                                              8000
                                                     7000
                                                            6000
                                                                   5000
                                                                          $m 4000
                                                                                    3000
                                                                                           2000
                                                                                                  1000
                                                                                                         0
     Master Trust & Wrap FUA
     Dec 2002
   Operator                                  FUA ($M) Mkt share    Rank

   National/MLC                                36,213    24.30%     1
   AMP Financial Services                      20,068    13.47%     2
   AXA                                         16,259    10.91%     3
   BT / Westpac                                15,304    10.27%     4
   Asgard Capital Management                   12,950    8.69%      5
   Commonwealth/Colonial First State           12,015    8.06%      6
   ING Australia                                9,583    6.43%      7
   Navigator (including Super Solutions)        8,862    5.95%      8
   Macquarie Wrap Solutions                     6,138    4.12%      9
   Tower Holdings Australia                     4,282    2.87%      10
   AM Management Ltd                            2,864    1.92%      11
   IOOF Ltd                                     1,574    1.06%      12
   Royal & Sun Alliance Financial Services      1,533    1.03%      13
   Synergy Capital Management                   1,374    0.92%      14

   GRAND TOTAL                                 149,020   100.00%

Source: Assirt Market Share Dec 2002
     Master Trust & Wrap net flows:
     Dec 2002
  Operator                                  Net flow for     % of       Market
                                             Quarter       Quarterly    share
                                                            flows      ranking
  Commonwealth/Colonial First State Group        530.20       17.82%      6
  BT / Westpac                                   529.57       17.80%      4
  Macquarie Wrap Solutions                       462.00       15.53%      9
  Asgard Capital Management                      404.67       13.60%      5
  AMP Financial Services                         340.07       11.43%      2
  ING Australia                                  173.90        5.85%      7
  AXA                                            125.78        4.23%      3
  IOOF Ltd                                       106.60        3.58%     12
  Navigator (including Super Solutions)          105.16        3.54%      8
  National/MLC                                   104.29        3.51%      1
  Tower Holdings Australia                        71.84        2.41%     10
  Synergy Capital Management                      57.10        1.92%     14
  Royal & Sun Alliance Financial Services                      0.00%     13
  AM Management Ltd                               -36.42      -1.22%     11

   GRAND TOTAL                                2,974.76
Source: Assirt Market Share Dec 2002
         Market Size/Leaders
    Setting the Scene
§      367 master trusts and                        Flow & Market share leaders
       wraps operating                        20
                                                              * CBA* BT
                                                      * Macquarie
§      3.4 million investors                  15

                                                                * Asgard * AMP
§      Master Trusts = $131B                  10
                                           Flows
       Wraps = $17.5B                       (%)
                                                            * ING
                                               5
§      Cerulli estimates annual                          * Navigator* AXA                   * NAB

       Wrap growth of 35%
                                                        5           10       15        20    25
§      BT Wrap growth in 2002                                       Market Share (%)

       = 42%


    Sources: Assirt Market Share Report Dec 2002 & Rainmaker Distribution
    Platform report 2002
     The market place
     § Next 3 years; see growth in platforms subsiding
     §   Big players to get bigger
     §   Market is partitioned:

      Wrap Open               Mega Master    Customised Fund Mgr
Architecture Platforms       Trust Platforms    Master Trusts


     BT                       Navigator           Colonial
     Macquarie      Asgard    Summit              Scandia
BT’s Wrap platform
- product details

Mark Smith, Head of Wrap Product
Michaela McGlinn, Senior Product Manager
April 2003
BT’s Wrap offering
§   $7.6 billion in FUA
§   32 Dealer groups
§   3,000 advisers
§   41,000 investors
§   Investment Wrap (general investments including
    DIY super)
§   SuperWrap (personal super and allocated
    pension)
What is Wrap?
§   Investment and superannuation administration
    service
§   ‘Wraps around’ a portfolio of cash, shares,
    managed funds and personal assets
§   Margin Lending and options
§   E-business platform
§   Suite of consolidated reporting
 What is Wrap?
                           Investor

             Investment advice from advisor                             Advice and
                  Advisor transacts online       8                      Information



                       Cash Account
                                                                        Investment
                                                                          solution

                    Wholesale
                                      Listed Securities
                  Managed Funds


                                                                         Ongoing
                   Consolidated reporting to
                                                                         service
                     investor and advisor


Printed reports        Voice Response                     WrapConnect
      4                           (                           8
Master Trusts and Wraps -
the differences
§   Wrap products – investor recognised as owner of
    investments
§   Master Trust – trustee is recognised as owner of
    investments
§   Wrap: Key differentiators
     l Choice

     l Control

     l Flexibility
Wrap - Investor benefits
§   Single view of a wide range of assets
§   Access to information is 24x7 via the web
§   Switching to other assets is seamless
§   Consolidated reporting for investments and tax
§   Tax at the individual level
§   All super and allocated pension legislative
    responsibilities are completed by SuperWrap
Wrap - Adviser benefits
ease of administration
§   A platform that ‘wraps’ around a broad spectrum of
    the investment universe
§   Web enabled transacting on managed funds,
    ASX-listed securities and cash
§   Outsourcing of regulatory reporting of their
    relationship with the client via personalised
    branding
Wrap - Adviser benefits
flexibility and power
§   Wrap facilitates flexible and transparent fee
    charging methods
§   The ability to use preferred software planning tools
    in association with the Wrap platform
§   Fund management tools incorporated
     l Rebalancing to preset asset allocations

     l Performance v benchmark reporting

     l Drill down asset allocation on managed fund
Defining BT Wrap from the pack
§   Open architecture approach
§   Desktop, offer documents & reporting
    customisation
§   Service model
     l Up front and ongoing training and support

     l Transitions team

     l Adviser relations

     l Operational infrastructure

				
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posted:5/6/2010
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Description: Wrap Combined