Sesame advisers will no longer be able to recommend non-mainstream investment products under the firm's new restricted proposition, managing director Stephen Gazard has said.
The network confirmed in November that it was dropping its IFA mandate and going restricted in response to what Sesame Bankhall group chief executive George Higginson called the Financial Conduct Authority's (FCA) "tougher and more intrusive regulatory approach". Gazard said the move to drop non-mainstream investments - which will come into force in six months- was borne out of the fact that they are "not a relevant requirement for the vast majority". "We need to be realistic. Higher risk products increase the likelihood of recompense, so why would we expose ourselves, you and the con...
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