Adviser
Community
The Independent Resource for the Financial Adviser Community.
Sesame Network.: Network History and Information
Sesame is part of the Sesame Bankhall Group which includes Sesame, Bankhall and PMS (Premier Mortgage Services).
The Sesame Bankhall Group was formed in October 2009 following Sesame’s acquisition of both PMS and Bankhall.
At the time of writing Sesame is the largest Appointed Representative network in the UK, with over 3000 advisers.
In 2002 Sesame launched a service for advisers wishing to go Directly Authorised while still wishing to use some of Sesame’s services. Called Sesame Direct it became part of the Bankhall division when the Sesame Bankhall Group was formed.
Sesame’s size can be attributed to the purchasing activities of former owners, software giant Misys. In the years leading up to 2004 saw Misys buy five networks in total – Kestrel Network, Financial Options, Countrywide, IFA Network and DBS. In the years that followed Misys planned to float and it was unsure if they would sell sesame prior to floatation. There was a great industry speculation as to the new name for the network. When the name Sesame was released it received a mixed response.
Speculation continued on the future of Sesame and it looked as though the Sesame management team were going to form a buyout, taking a 60% stake in the Sesame network. Ultimately this did not take place and Sesame was bought by Friends Provident for what many considered to be a cut price of £75 Million in 2007.
During 2009 Sesame also struck a deal with Bluefin (formally Thinc) where 290 individuals were transferred to Sesame.
Sesame Bankhall Group’s Group Executive Chairman is Ivan Martin who was Sesame’s Executive Chairman prior to the acquisition of Bankhall. He is also the deputy chairman of the Association of IFA’s – AIFA.
Managing Director of Sesame is Nick Kelly who was formally Operation Director at Thinc prior to joining Sesame in January 2008. He has also worked in senior roles at Financial Options and Tenet Group.
Sesame headquarters address is:
Sesame
Independence House
Holly Bank Road
Huddersfield
West Yorkshire
HD3 3HN
Sesame Appointed Representatives’ at the time of writing are numbered at 1494 according the Financial Services Authority register, putting them in top place of networks in terms of number of firms.
Sesame permissions include
Mortgages, Pure Protection Insurance, General Insurance, Investments, Pensions, Equity Release and Home Reversion
|
For historical and a brief summary of other information on networks please click on the relevant link below. | ||
|
|
|
|
If you are currently looking for a new mortgage network we can help. Please click here for our enquiry form or click on the following link if you wish to know more about Which Network Ltd