People’s Choice Credit Union has announced that it has selected BT as its new wealth management partner.
This means that the credit union’s 350,000 members, alongside their financial advisers, will have access to the leading investment platform in Australia, and can have their individual needs catered to.
People’s Choice managing director Peter Evers said the move comes after an exhaustive 12-month quest to select the best option for its members.
“With $1.2 billion in funds under advice, we brought some muscle to the negotiation table and we’ve secured an extremely competitive fee structure for our members with investment, superannuation and insurance needs,” he said.
Strategically the new arrangement will also significantly sharpen the credit union’s competitive edge as it will now be able to provide a full range of financial planning and wealth management options, he said.
The partnership follows the more recent and purposeful move to grow the financial capacity of People’s Choice, which has seen planners planted in South Australia, Victoria, Northern Territory and Western Australia.
“As part of our growth strategy, People’s Choice now has a major footprint in the financial planning sector, with a team of more than 30 planners, thousands of investment and superannuation clients, and premium access to the quality resources of BT,” Evers said.
For legacy reasons, People’s Choice had been working with multiple platform providers and individual fund manager, which proved to be time-consuming and confusing.
When the organisation’s funds under advice surpassed the $1 billion mark, it was deemed to be an appropriate time to seek better deals for members that would offer more efficiency and comprehension.