Sesame Bankhall

Sesame Bankhall Group (SBG) has reconfigured its management team following a strategic review that led to the demise of its investment advice network earlier in the year.

Sesame Bankhall Group (SBG) has lost almost 60% of its network's member firms in the wake of a decision to kill-off its problem-laden investment advice business.

All seven products providers featured on Sesame's ‘focussed' restricted advice panel have denied breaching the regulator's rules on inducements, after the network was fined £1.6m last week for selling the coveted spots to the highest bidders.

Sesame, the UK's largest network of financial advisers, has been fined £1.6m by the Financial Conduct Authority (FCA) for setting up a pay-to-play scheme that "undermined the ban on commission payments brought in by the Retail Distribution Review (RDR)"....

Network Sesame has again come out top as the most complained about advice firm, although numbers of cases against it were down, according to the Financial Ombudsman Service's (FOS) half yearly figures published today.

Friends Life has reported a "disappointing" £19m loss for Sesame Bankhall Group (SBG) in 2013.

Network Sesame has confirmed that it is planning to drop its independence mandate for investment and pension advice and move to a ‘whole of market' restricted proposition in 2014.

Sesame Bankhall Group (SBG) has announced it is broadening its restricted advice proposition for advisers and their customers with the addition of group risk products.

Sesame Bankhall Group includes adviser network, mortgage club and support services for mortgage advisers

Networks Openwork and Sesame saw complaints against them at the Financial Ombudsman Service (FOS) rise in the second half of last year, with Sesame receiving over 90% more claims.