Looking more closely I can see the article that quoted the 18% figure looked at major platform providers total FUMA rather than funds specifically on platform. BT still has a decent chunk of the platform funds at almost 11bn. Hub24 is around 8.3bn (25/06/18) and IOOF quoted 33.8bn (24/04/18) in funds under supervision which I assume means on their platform. According to the article AMP and the 5 big banks round out most of the platform market.
I think the 18% figure which came from the second article is not a true representation on BT's share of the platform market. Instead the AFR seems to have collated the total FUMA of the main platform managers and then calculated the 18% using BT's proportion of this amount rather than their Panorama Investments product. After looking a little closer 10% of the total platform market seems more realistic for BT. Would be great to hear from anyone who has more accurate figures.
My 18% figure came from the quote at the end of Article 2:
"BT has an 18 per cent share of the $880 billion investment platform market. It only needs to lift its market share by about $17 billion to recoup the lost revenue."
Upon reflection this seems misleading and I am leaning towards a lower figure - as you said Transversal.
IFL Price at posting:
$8.87 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)