The deal follows Bluefin’s decision to close its Thinc Networks operation and will enable member firms to continue trading as independent brands, but with the backing of Sesame’s financial strength, regulatory expertise and range of valuable support services.
To help minimise business disruption Sesame and Bluefin have established a fast-track process for Thinc Network members that will enable advisers to continue writing business and enjoy a smooth transition to Sesame.
The Thinc Networks, Thinc Network Services Ltd and Thinc Assured Network Ltd, comprise 149 member firms, all of which run wholly independent businesses, consisting of 290 individual advisers.
Commenting on the deal, Stephen Young, Sales and Marketing Director at Sesame said: “We have worked very hard to secure this exclusive deal and we are delighted to be able to offer Thinc Network members the opportunity to continue building their businesses with the help of Sesame’s expert guidance and valuable support. 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 the Thinc Networks.”
Gregg Taylor, Managing Director, Financial Advice, Bluefin Advisory Services, commented: “The decision for Bluefin Advisory Services to close its Network operations is entirely based on the strategy to develop Bluefin as a premier provider of financial advice in the UK under a single brand and is an indication of the commitment and clear strategic direction we have. After making the decision and reviewing the market for potential partners based on key issues such as independence, expertise and financial backing, we decided that Sesame was best placed to ensure that Thinc Network members continue to receive strong support going forward.“
