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Sesame One platform attracts just £500m in first two years

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Sesame Bankhall Group advisers have placed just £500m on its Sesame One platform over two years, according to its annual accounts.

Sesame launched the platform, which is a white-label version of Axa Elevate, in November 2010 but says it had accumulated just half a billion pounds of assets by the end of 2012.

The platform is available to Sesame advisers at a lower price than Elevate although Sesame does not disclose the charges.

A statement in the accounts says: “Our bespoke investment platform, One, is now firmly established and by the end of 2012 had accumulated over half a billion pounds of assets.”

At the end of 2012 Axa Elevate had total assets under administration of £5.3bn.

The accounts also show Sesame’s joint investment venture with Henderson is attracting around £1m per week.

Sesame’s accounts published today, revealed the group made pre-tax profits of £4.1m for 2012 despite its network arm reporting a £9.3m loss largely due to its £6m FCA fine.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. John Bloomfield 29th August 2013 at 4:53 pm

    Sesame advisers probably account for far more business on Elevate/Sesame One than the figures show as there is no actual price difference between Sesame One and Elevate – Hence many advisers just kept on with their direct accounts.

    The roll out of Sesame One has been pretty much abandoned. There branding is not going forward it is simply branded elevate, there are no enhanced rates etc. RDR but a spanner in to the plans I think.

  2. Our firm used Bankhall’s Portavista to my better judgement a few years ago. Portavista was then pulled and we had to move our clients assets.

    Once bitten, twice shy…

  3. RegulatorSaurusRex 29th August 2013 at 5:31 pm

    Is it possible that Sesame ARs are a bit more scrupulous than some DSFs?

  4. I’m not surprised due to the pedantic processes required to place / amend business. There are better platforms out there which are easier to use and I reckon that as Sesame themselves don’t use it themselves on a day to day basis , advisers have rightly given it a bodyswerve.

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