View more on these topics

Sesame’s Stephen Gazard to join Intrinsic

Stephen Gazard SBG MD 700

Sesame Bankhall Group managing director Stephen Gazard is to join Intrinsic in the newly created role of group managing director later this year.

Gazard’s departure from Sesame was announced yesterday, amid an executive reshuffle.

At Intrinsic, Gazard will work with chief executive Andy Thompson on the distribution strategy as well as leading the mortgage division.

Thompson says: “At Intrinsic we aim to be an industry leader, demonstrating best practice in face-to-face advice and investing in the future of the professional financial planning industry. Stephen shares that vision with us and will be a hugely valuable addition to the executive team.”

Gazard adds:I am delighted to be joining Intrinsic at such an exciting time in its evolution.  They have a hugely talented and admired team, a membership to be envied, and a parent company in Old Mutual Wealth that sees high quality financial planning sitting at the core of its long-term strategy.”

Gazard worked with Intrinsic while he was at SBG on integrating more than 200 financial planners who joined Intrinsic after Sesame scrapped its investment network.

Intrinsic announced last year it would create three new business channels, each with its own managing director. Nigel Speirs will continue to lead Old Mutual Wealth Private Client Advisers, with Stephen Fryett having oversight of the Wealth Network for investment and pension advisers.


Stephen Gazard SBG MD 700

Sesame Bankhall MD Gazard exits after four years

Sesame Bankhall managing director Stephen Gazard is to leave his role after four years with the business. A statement issued by the firm said Gazard “will take up a new role elsewhere in the industry”. Sales director Mark Graves has been appointed managing director of Sesame and mortgage club PMS, while compliance and risk director Julie Sadler […]

Stephen Gazard SBG MD 700

Stephen Gazard: Advisers are failing on DFM due diligence

As financial advisers continue to adapt to life post-RDR, one of the big trends we are seeing is the increased use of third parties such as discretionary fund managers to manage clients’ investments. This makes business sense as it frees advisers up to focus on other areas, such as guiding clients towards their financial aspirations. […]

Cowan-John-Sesame Bankhall-2014

Sesame directors see pay rise despite £11m loss

Sesame Bankhall Group’s highest paid director was paid £508,000 last year, the network’s 2015 accounts show. The network, which closed to investment advisers last March after being fined for compliance failings and “pay to play” deals with providers, has also seen its losses for the year increase from £7.9m to £11.6m. The highest paid director […]


When is an exit charge not an exit charge? Over to SJP…

It is fair to say St James’s Place has come in for a bit of a kicking lately. From exit charges, to disclosure, to partner incentives, the SJP business model has been prodded and pulled around and, in some quarters, been found wanting. About time too, some advisers would say. As David Bellamy announces he […]


News and expert analysis straight to your inbox

Sign up


There are 5 comments at the moment, we would love to hear your opinion too.

  1. Congratulations Stephen and best wishes for the future.

  2. Good luck Stephen, but a bit contradictory to join a network, and the one that you arrange to pass advisers to after closing a network yourself, to then say they have got a good vision. Wonder how much of this is driven by the need for Instrinsic to have a good point of contact with the FCA to battle their corner now the attention is perhaps off SBG and onto the next big banana skin waiting to happen. Lay your bets, Old Mutual or SJP next in the firing line with the FCA heavies, you decide.

  3. Can’t say I’m surprised. What was left for him to do at Sesame-Bankhall. Damage done as they say.

  4. Whilst the cynical comments are understandable, the reality is very different indeed. Stephen inherited a troubled business and an almost impossible (and certainly unenviable) job of cleaning it up and putting it on a better footing. This has been done incredibly well and the business that exists today is on a much surer footing than the day he arrived. As a competitor, it would be easy to knock the business and point out the faults of the model, but I believe that huge credit is due to Stephen and the team there for improving its fortunes and saving the sector from more bad news / fines etc etc.

  5. The only subject that I agree with him on is the longstop

Leave a comment