Sesame Bankhall Group (SBG) has increased trading profit to GBP4.1 million in 2012, from GBP2.2 million in 2011, according to its annual results.
The number of network advisers at SBG has also risen, while the network’s average productivity increased by 14%.
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In 2012, a new practice management system, powered by XPLAN from global technology provider IRESS, was also launched to improve adviser efficiency and risk management. At the end of 2012 the system had 250 users, encompassing both independent and restricted advisers.
A new investment management company, Optimum, enabling advisers to create bespoke investment solutions for their clients and facilitate adviser charging was launched. Optimum gained traction through 2012, according to SBG, and by the end of the year had net fund inflows in excess of GBP1 million a week.
A wealth management proposition incorporating a new Investor Risk Profiler tool developed with Oxford Risk and Barrie & Hibbert, addressing the latest FSA guidance on assessing suitability, was launched by SBG as well.
SBG also launched a mortgage processing service, Sesame Bankhall Specialist Lending Services, designed to assist advisers place complex business and a legal services branch.
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By GlobalDataChief executive of SBG, George Higginson, said the group had invested millions of pounds in the business in order to evolve into a broader financial services group.
"In challenging market conditions and in the run-up to the implementation of the FSA’s Retail Distribution Review (RDR), our adviser support and new enhanced range of services helped to strengthen SBG’s market leading position."
