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Sesame increases fees for its members by 10%

Sesame is raising charges for members by 10 per cent.

The increase sees retention charges rising from 1,200 to 1,320.

The network is raising its core charges due to increased regulatory costs and says fees have not altered since its standard commission share reduction in August 2003.

The charges will be reviewed again next year, with members receiving three months’ notice. The new charges take effect in August.

Master Adviser principal Doug Brodie says: “Sesame has its own commercial need and it needs to ensure alignment with the needs of the members. This is like when Gordon Brown promises not to raise income tax but then raises national insurance.”

Brodie thinks that a flat rate would allow him to improve his business. He says: “It would be useful to offer a charge in pounds, shillings and pence rather than a percentage. When networks do this, they have a captive client base and members do not have a choice.”

Sesame sales director Charles Bryant says: “Unfortunately, this reflects the increasing regulatory costs in the industry.”

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