Sesame reports 6% drop in membership as restricted transition completes

In a letter to members, he summed up the firm's position following the completion of its change of proposition from independent to 'restricted universal', saying net membership "remains strong", at nearly 95% of the level they were at the beginning of the year when the firm announced its intentions. The network announced in January it will ban its advisers from advising on esoteric and non-mainstream investment products, which Cowan claimed, affected a mere 32 cases out of around 225,000 across the network. The move prompted a net fall in adviser numbers within the network of 6% - fro...