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Sesame Bankhall profit falls 56% as it extends staff lock-in plans

Sesame Bankhall Group has reported a trading profit of £2.2m in 2011, down 56 per cent from £5m in 2010.

As part of Friends Life’s annual results for 2011, published today, SBG says it has invested in technology infrastructure and new services for customers during 2011. It says it is undertaking a “multi-million pound investment programme” to support advisers ahead of the RDR and the mortgage market review.

SBG has extended its executive incentive scheme to other “key members” of senior management, which will see them purchase shares in Friends Life Distribution Holdings. The scheme, which commenced in 2011 and will run until 2016, entitles participants to cash that equates to 20 per cent of the value of growth in share value of FLDH, subject to market conditions.

SBG says the scheme is “tightly aligned” to the achievement of the SBG strategic plan, including appropriate risk management and controls, and has secured the long-term commitment of the senior management team.


Axa Wealth to launch restricted advice model

Axa Wealth is to launch a restricted advice model in the next three months to run alongside its existing independent advice model. The company says if advisers have not already done so they need to make a decision about the type of service they are going to offer their clients as soon as possible. It […]

Interim FPC sets out capital and leverage control desires

The Financial Policy Committee could be given powers to dictate capital and leverage requirements for banks, building societies and insurers, if proposals published by the Bank of England this morning are accepted by Government. The Financial Policy Committee will sit within the Bank and begin operating next year. It is tasked with protecting and enhancing […]


Resolution outlines Friends split sell-off plans

Resolution has set out proposals to split Friends Life into two separately listed businesses which could be sold off on their own. As part of its 2011 results, published today, the consolidation firm says it will continue to look for exit options involving mergers and acquisitions but it also needs a “self managed” exit option. […]

Tax-free gains? That can’t be right, can it?

When he was Chancellor of the Exchequer, George Osborne made several changes to the way in which income is taxed. Personal allowances were increased significantly above the rate of inflation; a starting rate band was introduced for savings income and, with effect from 6 April 2015, this was assessed at 0 per cent. In addition, […]


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