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Sesame determined to build the leading multi-tie panel

Sesame has pledged to assemble the best multi-tie panel in the marketplace after depolarisation, saying it will have failed its members if it does not achieve its aim.

Speaking to Money Marketing, Sesame commercial director Martin Davis says the introduction of multi-ties into the distribution framework is a perfect opportunity to address some of the fundamental problems facing IFA firms, such as the spiralling cost of professional indemnity insurance and poor levels of service from product providers.

Sounding a note of caution, however, Davis says the creation of Sesame&#39s panel will not be conditional on solutions to those issues but it will be a missed opportunity if they are not dealt with.

He says, given the size of Sesame among IFAs, representing around one-quarter of the market with 6,050 RIs as of November 2003, there will be no justification for not assembling a market-leading multi-tie panel.

Defining best, Davis points to things such as the best products available from providers with proven levels of service to IFAs. But he does not see multi-ties forming in 2004, saying it will not be until next year that such business decisions will be finalised.

Davis says: “Our perspective of this is it is going to happen at some stage – there will be a multi-tied environment in the future. We will be very aggressive in our participation and create for our members the best panel in the marketplace. If we do not, we will have failed our members.”

Bankhall operations director Tony Murrell says: “If I were to wake up on a Monday morning and my independence had been compromised by the arrival of a multi-tied operation, I do not know how happy I would be.”


Honours for Axa boss Brydon and pension reviewer Pickering

Axa Investment Managers chairman Donald Brydon has received a CBE in the Queen&#39s New Year&#39s honours list.Brydon, 58, spent 22 years at Barclays and was chief executive of Axa Investment Managers from 1997 to 2002 before becoming chairman. He is also deputy chairman of the Financial Services Practitioner Panel.Prudential chairman and former Bank of England […]

A simple start, absolutely

By the end of January, the main pension industry bodies will have a gentlemen&#39s agreement with the Treasury that pension simplification will go ahead – with a lifetime fund limit of £1.4m – so they can get on with preparing for A-Day in 2005, leaving the National Audit Office to go through the motions on […]

Bupa creates new group risk business unit

Bupa has set up a new London based group risk business unit, aimed at moving forward its group risk market. Former Swiss Life group risk business managing director Graham Clark has been appointed director, with 10 former Swiss Life employees recruited to the new commercial management team. Bupa director of sales and distribution Steve Flanagan […]

Cazalet says Standard talks reflect concerns

Life industry analyst Ned Cazalet says the FSA investigation into the financial strength of Standard Life reflects his own view that the life office is not as strong as it says it is. Cazalet says Standard&#39s negotiations with the regulator are likely to be based around hammering out an interpretation of the new realistic reporting […]


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