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‘Sesame slow on bond claims’

Sesame is taking over five months to deal with investment bond complaints, according to claim management firm Brunel Franklin.

Brunel Franklin claims director Ian Allison says out of the “seriously overdue” cases on the firm’s BondCompensation. com service, over 60 per cent are Sesame cases and the average number of days outstanding for these cases is 161 days.

FSA guidelines suggest it should take up to 56 days for a decision followed by payout within a “reasonable” time.

Allison says this suggests that Sesame has put less resources into dealing with bond claims than with endowments. He says: “Our assumption is that bonds have been given an even lower priority than endowments within Sesame and this side of the business may be even more under-resourced than the endowment claim team.”

Sesame spokesman Jared Aitken says: “We take all complaints seriously, are in the top quartile for handling complaints among networks and have a dedicated team focusing on non-endowment complaints. Dealing with third-party handlers does delay things.

“We are surprised and dis- appointed that Brunel Frank- lin, who we have been work- ing with to streamline the process, felt it necessary to make these comments.”

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