As financial advisers choose their route to regulation, Sesame is placing compliance expertise and choice at the heart of its strategy to help support financial advisers through the transition to authorisation and beyond.
Key points include:
- Complete flexibility with a choice of two mortgage propositions for appointed representatives (ARs) and a mortgage proposition for directly regulated financial advisers
- A General Insurance (GI) proposition enabling members to place personal and commercial lines business with a broad range of providers while continuing to benefit from renewal income on existing business
- Charges from as low as 5% of turnover combined with leading procuration fees and commission rates from lenders and GI providers – all negotiated by Sesame, the UK’s biggest IFA network
- Integrated technology with pre-population of client data across mortgage, protection and general insurance markets
- Compliance support from Sesame’s 300-strong team, providing face-to-face and helpdesk support to ensure a smooth transition to the new regulated environment
- Fast-track authorisation process for advisers who become part of Sesame Network (including existing Sesame members) enabling them to trade with confidence in the run-up to regulation
- Access to low-cost professional indemnity cover offering excellent value for money
- Free Mortgage Code Compliance Board (MCCB) renewal fees from 1 May to 31 October 2004
- Mortgage sourcing software available free of charge until 31 October 2005
- Comprehensive business development and training support
Later in 2004 Sesame will be launching a desktop application, integrated with market leading mortgage and GI sourcing software, to support advisers throughout the whole of the sales process. This will encompass customer management, compliance documentation, mortgage and GI product sourcing, electronic trading and management reporting.
Sesame will be offering ARs two regulated network options for complete flexibility, with Sesame taking full regulatory responsibility for their mortgage and GI business:
1. Mortgage Select - a proposition providing independent mortgage advice on a select number of leading mortgage lenders that represents the whole of the market and offers top procuration fees; and
2. Mortgage Market - a true Whole of Market proposition enabling advisers to give independent mortgage advice across every lender in the market and offering market leading procuration fees for this type of offering.
Martin Davis, Sesame Commercial Director says:
“Financial advisers have a massive business decision to make as they choose their route to regulation. Our comprehensive proposition provides advisers with the support they need for whichever path they choose, along with a range of attractive incentives for new and existing customers.
“In our discussions with financial advisers it is clear they are looking for help with adapting to regulation, along with technology support and the backing of a financially-strong business partner with real size and scale in the market. We are confident that the combination of our competitive fees and ability to negotiate the best procuration fees and commission rates in the market will enable us to offer a compelling proposition for financial advisers representing excellent value for money.
“Compliance support is our key differentiator and no other network has our depth of experience in managing FSA regulation and providing valuable face-to-face support. We will be offering a compliance service that is light of touch but provides the protection and reassurance advisers are looking for, enabling them to focus on running successful businesses.”
Sesame Direct Mortgage Services will also be launched on 1 May to provide directly regulated financial advisers with access to a range of tailored support services such as competitive procuration fees, discounted technology, compliance and marketing support. This is an extension of the service that Sesame currently offers and charges will be announced shortly.
Financial advisers who would like further information should call 0845 122 1515 or visit www.sesame.co.uk
