Sesame Bankhall has selected Axa Elevate to help power a new investment platform to fill the gap left by Portavista which closed earlier this year.
Sesame One has been developed to help advisers respond to changes brought about by the RDR.
The need for adviser firms to successfully manage regulatory risk will be at the heart of Sesame Bankhall's strategy, with comprehensive guidance for advisers regarding the use of platforms.
Wrap provider Axa Elevate was selected after a comprehensive selection process with Sesame Bankhall impressed with the business consultancy support it could offer tp advisers.
Sesame Bankhall says client value will be core to the platform, which will have no entry charge.
The group will also be providing practical support on the use of Sesame One for advisers. This will include a new accreditation programme comprising distance learning, guidance and case studies to check advisers are using platforms correctly for their clients.
Sesame One will be available immediately for directly-authorised Bankhall users but Sesame network members will need to go through an accreditation process.
Sesame Bankhall members will be able to use other platforms apart from the group's internal offering and due diligence support will be provided for all options.
Ivan Martin, Sesame Bankhall Group's executive chairman, says: "We firmly believe that the successful adoption of platforms can help IFAs to take advantage of the new RDR world and build greater embedded value in their firms. The challenge for firms is to ensure they use platforms appropriately, as regulation of this sector becomes ever more intense and demanding. With our regulatory expertise we are ideally placed to add real value to this process for advisers, whether they are reviewing their current platform or adopting this approach for the first time.
"Business transition will be key to our platform strategy and we will be providing comprehensive support in areas such as fee charging and client segmentation. AXA Elevate is the ideal partner for Sesame One given their strength, expertise and established track record as both a platform provider and also in business consultancy support. There is a lot of hard work ahead on business transition and platform adoption and we are looking forward to working closely together to help adviser firms."
Launched back in May 2008, Portavista was forced to close as Capita stopped supplying the Enabler technology backing the platform.
Stephen Young, currently chief operating officer at Sesame Bankhall, will now head up a new unit focused on delivering a range of new business initiatives, including the investment platform.
The Elevate platform is one on the key focuses for the newly-formed Axa Wealth after Axa completed the sale of its traditional life and pensions business to Resolution for £2.75bn. It is aiming for the wrap platform to hit the profitability mark of £7bn AUM within three years.
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