networks

Insurer will divest its stake over four years

Advice and investment management firm Tavistock Investments has created a new network of financial advisers following its takeover of Financial Ltd - but has lost 54 advisers in the process.

Rathbones bought out Vision Group

To acquire Vision Group

Sesame Bankhall Group (SBG) has reconfigured its management team following a strategic review that led to the demise of its investment advice network earlier in the year.

Adviser network Personal Touch Financial Services has written to members informing them of a planned fee increase after suffering what it called "indiscriminate" increases to its regulatory costs.

Sesame Bankhall Group (SBG) has lost almost 60% of its network's member firms in the wake of a decision to kill-off its problem-laden investment advice business.

Wealth manager Sanlam UK has bought a 20% stake in the Caerus network alongside the firm's entire asset management business.

Questions are being raised over the contracts on offer to exiting Sesame network advisers considering buying-in the support of its sister company Bankhall, which include an apparent two-year tie-in and "ridiculous" annual fees for services.

Clive Balchin had been with Sesame for 18 years but an ever more stringent approach to compliance pushed him to hand in his notice - just days before the group announced it was shutting its investment network.