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Thinc networks to close – members offered chance to join Sesame

Bluefin Advisory Services is to close its Thinc networks and has reached an agreement with Sesame to offer members the opportunity to join Sesame with “minimal disruption”.

The networks, which were not rebranded in January as part of the Bluefin Advisory Services launch, have 149 member firms consisting of around 290 individual advisers.

Bluefin says the decision to close its networks follows a strategic review that found providing services to businesses that do not carry its brand no longer aligns with its development strategy.

It adds it is seeking to consolidate its position in the UK as a premier provider of financial advice under a single brand.

Thinc Network Services Ltd and Thinc Assured Network Ltd members chose to operate under their own brand and Bluefin says it wants to ensure they benefit from high levels of support and infrastructure.

Bluefin Advisory Services managing director of financial advice Gregg Taylor says: “The decision for Bluefin Advisory Services to close its network operations is entirely based on the strategy to develop Bluefin Advisory Services as a premier provider of financial advice in the UK under a single brand and is an indication of the clear strategic direction we have.

“We have ambitious growth plans and with the integration phase of the new business well underway and our client base continuing to develop we are very confident of consolidating our position as a powerful player in the UK.”

Sesame sales and marketing director Stephen Young adds: “We have worked very hard to secure this exclusive deal and are delighted to be able to offer Thinc Network members the opportunity to continue building their businesses with the help of Sesame’s financial strength, regulatory expertise and our wide range of valuable support services.

“We want to maintain our position as the UK’s leading network and support services provider and we are ideally positioned to offer a secure home for firms transferring from Thinc.”

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