Sesame loses 60% of network advice firms in bid to survive

After a string of issues including two fines from the regulator and being forced to carry out a far-reaching review of past pension advice, Sesame announced in March it is closing its network proposition for pension and investment advisers. Network members were given five months to decide whether they wanted to stay part of the group as a directly authorised adviser buying compliance services, but not liability protection, from SBG's Bankhall arm. One hundred and five advice firms chose this route, just 30% of the former network, according to figures from SBG. Sesame refused to rev...