It also saw a 57 per cent increase on managed accounts FUA ($10.9 billion) due to increasing adviser demand, while 10 new managed portfolios were added to the platform in the March quarter alone.

As of March 2022, BT Panorama boasts 6,069 active advisers and 236,742 active accounts; an increase of 105 per cent.

The platform also saw significant growth from SMSFs, with funds under administration for SMSFs increasing from $11.93 billion in March 2021 up to $26 billion in March 2022.

SMSFs represented 25 per cent of funds under administration for the BT Panorama platform at March 2022.

In a statement, BT Financial Group chief executive Matt Rady said the results show that “2022 has seen the value of advice brought into sharp focus”.

“Locally, businesses continue to see supply chain disruptions and staff shortages, particularly in the services sector. The ‘hot’ property market has begun to slow as affordability becomes stretched and analysts are forecasting four cash rate hikes by the RBA before the end of the year,” Mr Rady said

“The recent federal budget and upcoming election add additional complexity.

“The significant uncertainty we have seen this quarter reaffirms just how important the work advisers do to help Australians have their best financial futures. I am passionate about BT being the partner of choice to help advice practices thrive.

“The future is bright.”

Meanwhile, ESG-focused managed portfolios FUA also jumped by 130 per cent on the back of the Lonsec diversified suite of managed portfolios, launched in November last year