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Strategy chief sees widespread move to multi-ties

Up to 80 per cent of the IFA sector will adopt multi-tie status, according to Sesame Group strategy director Char-les Bryant.

Speaking at an industry conference in London last week, Bryant outlined a possible future landscape using estimates which indicate that 50-80 per cent of advisers will multi-tie.

His said two or three big multi-ties could dominate the entire market.

Bryant predicts a wider gap between the product ran-ges and propositions offered by multi-tie and whole of market models.

He believes multi-ties will take on a number of guises, which for some firms will be little more than a formalisation of the status quo but will see others create an entirely new distribution model.

Sesame&#39s RI numbers fell from 5,600 in May last year to 4,550 last month but the group says the number of advisers joining its non-reg arm has grown rapidly to 1,300.

Bryant said the main challenges will be regulatory issues, transparency and consumer protection in the adv-ice process, panel flexibility and technology.

He said multi-ties will give consumers improved advice which he predicts will restore consumer confidence in financial products.

Sofa chairman Nick Bamford says: “I would hesitate to put a figure on those multi-tying but more than half the market sounds high. I believe that in the future we will see another polarisation between people selling products and those selling advice.”

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