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Massow urges IFAs to join in Sesame action

Ivan Massow is issuing a call to arms for advisers aggrieved with Sesame’s treatment of misselling complaints against them and wants to start a class action against the network.

The former IFA says the project will run separately from his own legal battle with the network, due to start in February, and says he is willing to pump in significant sums of money to help build a fighting fund to bring about a group action.

Massow says since getting exposure about his case in Money Marketing, he has been approached by IFAs with similar grievances and hopes his profile can bring extra pub- licity to the cause.

He hopes to hold a public meeting in London in the near future to discuss the best strategy for winning a claim for loss of earnings and professional reputation as well as returning damages that could have been settled unfairly.

Massow says many other advisers are caught in the trap of having claims settled automatically by the network and having to pay the excess, with no right to challenge the decision. He says: “My intention is to lead a group action against Sesame involving as many advisers as possible.”

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