Sesame profits nil as group invests in RDR

The group traded profitably in the period but made "significant" investments in technology, new customer services and in a number of "implementation activities" ahead of RDR, according to the first-half results for parent company Resolution. In the corresponding period last year, SBG, which consists of an appointed representative network (Sesame), a support service provider for directly regulated IFAs (Bankhall) and a mortgage club for intermediaries (PMS), posted operating profits of £2m. Parent company Resolution had operating profits before tax of £390m (IFRS) in the first half, up...