Friends Life confirms 'strategic review' of Sesame

Friends Life has confirmed that Barclays Capital has been appointed to ‘review strategic options’ for its IFA arm Sesame Bankhall Group.

Last week it was reported that Friends had put network Sesame up for sale, sending out a 'teaser document' providing a summary of Sesame to banks, insurers, investment houses and private equity firms.

Sesame, headed by chief executive George Higginson (pictured), said: 'Sesame has a strong long-term commitment to providing its members with valuable support to help them deliver the right outcomes for customers. Over the last two years, Sesame has unveiled a new broader range of propositions in areas including wealth management, restricted advice, adviser technology, mortgages and general insurance.'

'These developments have helped Sesame to strengthen its position as the UK’s largest financial services group for professional advisers, with continued growth in revenue, adviser productivity and new members.'