Sesame scraps AR network for investment advisers

Restricted network Sesame has said it will no longer offer an appointed representative (AR) option for investment advisers.

Wealth firms currently in its network will be give time to become directly authorised with its Bankhall arm, it said. Firms preferring to remain as ARs will be able to move to a new network partner, it said, adding it is in talks with another advisory group to help facilitate a smooth transition for those firms who prefer this route. Directly authorised advisers shoulder their own liabilities. But Sesame is responsible for any regulated business its ARs carried out while part of the network. The move is part of a strategic review by the struggling company. Aviva, which is in the...