Sesame to roll out restricted proposition next year

Sesame will make a restricted proposition available to members from the middle of next year, built around its own platform and newly-created investment management arm.

Speaking at the Sesame Symposium today, group CEO George Higginson explained how thousands of advisers were already planning to go restricted through the likes of Caerus and Openwork, adding that his company was looking to "take our share of that market".

Describing it as a "broad proposition", Higginson explaind how, even though it will not be available to advisers until the middle of next year, the ground work had already been laid.

Sesame will be the sole principial for the restricted businesses and the proposition is only available to its appointed representative members, although the company will conduct a review next year to see if it will be rolled out to directly authorised advisers previously under the Bankhall banner.

• mortgage-related advisers will have a protection panel, a whole of market mortgage panel and best of breed general insurance providers.
• advisers restricted in investments will have a proposition covering pensions, pre and post retirement and the investment sector using the network's platform, Sesame One, and also using the services of its new investment arm, Optimum Investment Management
• Advisers generic across the whole of market will be able to pick and mix the combinations that suit them
• Three to five providers have signed up for each of the sector, although there will be a whole of market panel for mortgages

Among the providers already signed up are Aviva, Zurich, Aegon, Friends Life, Prudential and Legal & General.

Despite the plans for a restricted proposition, Higginson also stressed Sesame's commitment to independence, describing it as the "core market".

"As the UK's largest distributor we also believe in offering choice. We are already a huge player in both mortgages and investments and the fact is that we have the scale and strength to give you options that other companies can't, "he added.

"But ultimately it's your choice and that is something we will never forget."