View more on these topics

Adviser in clash with Sesame on case decision

An ex-Sesame member has hit out at the network for upholding a client complaint amid doubts that Sesame can locate the client file and a discrepancy over the reasons for its decision.

Mortgage Search Northants director Derek Casey says Sesame is threatening to take legal action to recover almost £2,000 in com- pensation, plus Financial Ombudsman Service fees but will not show him evidence to explain how it reached its decision.

Casey, formerly of Derek Casey Mortgage and Financial Services, says he left the network and handed over his client files in 2003. He made photocopies of most of his files before surrendering them.

Sesame subsequently received three complaints and Casey held copies of the files for two of them, which he provided to Sesame. The network dismissed these two complaints.

However, he did not have a copy of the file relating to the third complaint.

He says: “After 10 months of no progress on the complaint, I wrote to Sesame, explaining my version of events and notifying them that I did not have a copy of the file for that client. Within a week, I got a letter back, saying that they have upheld the complaint.”

Sesame refuses to confirm whether it has the client file and has provided conflicting reasoning for its complaint decision.

In a letter to the complainant, Sesame states: “…there is no record of your attitude to risk at the time the policy was sold.”

But in a letter to Casey, Sesame says: “The level of investment risk associated with this policy was inappropriate at the point of sale.”

A Sesame spokeswoman says: “We are investigating any apparent discrepancy in the letters.”


FSA urged to escalate fines

The FSA needs to ramp up fines for companies that treat customers unfairly, says consumer champion Mick McAteer.

Info Office looks at laptop data sale

The Information Commissioner’s Office is investigating into how a laptop with personal details of a million Royal Bank of Scotland customers was sold on eBay by a third-party archiving firm without the data being properly erased.

Best of healthcare

One of the poorest performing sectors over the past three and five years has been healthcare. Many shares in this sector are now on very low valuations.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm