Further details released on transition process for BT’s SMSF clients
With BT ceasing its Panorama SMSF establishment and administration service, BT has provided details on the transition process for SMSFs currently using the service to advisers and clients.
SMSF Adviser reported this week that BT had decided to simplify its current SMSF offers by terminating its Panorama SMSF establishment and administration services, effective 23 December 2021.
As previously reported, BT will continue its administration service for existing clients until they have completed their SMSFs 30 June 2021 financial statements and lodged the corresponding tax return.
“Once lodged, we will facilitate the transition of administration services including all SMSF records to your new nominated service provider,” BT stated in a communication to advisers.
BT confirmed that SMSF professionals and SMSF clients are free to nominate any service provider they choose.
“However, to assist with a smooth transition and continuity of administration services, BT has held discussions with administration service provider, Heffron,” the wealth management firm stated.
“Heffron has agreed to honour all existing fees, including discounts where relevant, for administration, audit and company administration for the 2021-22 FY and 2022-23 FY.”
BT will be contacting SMSF professionals and trustees who use the Panorama SMSF service to discuss their specific transitional arrangements.
Miranda Brownlee
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.
