Sesame will not allow members to multi-tie unless they can prove their businesses are up to scratch.
The mega-network says it will be targeting firms for multi-tie that it believes have the app-ropriate mix of business and client bank but it will turn away firms if it does not feel their business model delivers what the IFA or the consumer needs.
Sesame believes firms which have high percentages of transactional-type business are most suited to a multi-tie model as they have the opportunity to reduce their costs massively and increase productivity and profitability through multi-tying.
Commercial director Martin Davis says although Sesame would be offering the option to multi-tie to its advisers, it is not applicable to everyone.
He says multi-tie will not succeed unless there is a call from consumers for the offering and Sesame will be showing caution about the speed of take-up of multi-tie.
Davis says: “We will target firms that we believe have the appropriate mix of business and client bank and will benefit from multi-ties. Likewise, we will say no if we believe the model does not deliver what the IFA or consumer needs.”