Sesame Bankhall announces restricted advice providers

Sesame Bankhall Group (SBG) has revealed the initial product providers for its new restricted advice proposition to be launched in the third quarter of this year.

SBG currently provides multiple propositions and services to over 11,000 advisers and will offer a restricted advice option alongside what it says is its “continuing commitment to the independent and mortgage advice sectors”.

The initial product providers at launch are planned to include Aegon, Aviva, Friends Life, LV=, Partnership, Prudential, PruProtect and Zurich.

George Higginson, Sesame Bankhall Group CEO, said: “We are committed to promoting and supporting professional financial advice and offering our customers choice. Many adviser firms are considering how they will service their clients and what changes they will be making to their existing business model.

“As a broad-based financial services group supporting over 11,000 advisers, it is important that we offer our customers a full range of quality options. This includes independent advice, where our commitment remains as strong as ever.

“Alongside this, over 6,000 financial advisers in the UK already offer a form of restricted advice, and our new service is enabling us to respond to this current and future demand. Our restricted advice proposition is a brand new technology-driven service that has been designed with valuable adviser input for the new regulatory world. It will give advisers access to the UK’s leading financial services brands, who we are working with closely to ensure that our new service delivers tangible benefits to firms and their clients.

“With PI insurance and regulatory fees also under pressure, we are providing greater certainty and security for firms by including these costs as part of the service. SBG is extending its range of options so that advisers can choose to do business in the way that is most suitable for their clients and their firm.”