Sesame is set to mandate its new Iress wealth management software for any network members offering restricted advice.
IFAs will not be forced to use the software but a spokesman for Sesame says it is “very likely” restricted advisers will be made to use the software as it works with the network’s practice management solution, which will underpin its restricted advice proposition.
Australian technology provider Iress’s software programme, Xplan, provides front, middle and back-office support. Sesame announced the deal at its annual symposium in London this week.
The Iress UK management team is made up of consultancy firm AT8’s three directors, Mark Loosmore, Mark Thelwell and Nigel Smith. AT8 has closed to new business.
Sesame also announced this week it has teamed up with Henderson Global Investors to launch a new investment arm for its clients, which can be used at advisers’ discretion.
A company has been set up for the venture, Optimum Investment Management, to allow advisers to create be-spoke investment solutions. It will offer a range of multi-asset, multi-manager solutions that can be blended to match a client’s risk appetite.
The funds will be run by Henderson multi-manager director Tony Lanning, with Helen Bradshaw as co-manager.
Beltinge Eames managing director Stephen Eames says: “It concerns me that restricted advisers would have to use the new system. I would not want to use it for 12 months until I had spoken to other advisers to see if it does the job.”