Sesame Bankhall profit rises by 66% to £5m
Share
Sesame Bankhall Group made an operating profit of £5m last year, up by 66 per cent on £3m in 2009.
The results last week are the first set of full-year figures following the integration of Bankhall and mortgage adviser service provider PMS with Sesame in 2009.
The Resolution report says: “The result reflects the combined fees generated by these businesses and is after charging £1m from Pantheon, which was disposed of in March 2010.”
Sesame Bankhall Group chief executive Ivan Martin believes the network has performed strongly in difficult conditions.
He says: “We are now significantly increasing the levels of investment in the group in areas such as qualification support, compliance infrastructure technology, new data centres and on a number of new business ventures. While these investments are expected to provide future benefits for the group and our customers, we are confident that our short-term trading will remain positive.”
Sesame Bankhall Group rec-ently launched a compulsory accreditation programme giving assistance and training to advisers that want to use the Sesame One platform.
Churchouse Financial Planning director Keith Churchouse says: “I think it would be very advisable for the company to use its profits now to plough back into the industry and help their members ensure that they can announce even better figures after the RDR.”
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
