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Sesame launches investment arm with Henderson
by Alex Steger on Nov 14, 2011 at 11:00
Sesame Bankhall has launched an investment company joint venture with Henderson Global Investors which will give IFA members access to a series of bespoke funds.
The new investment company, called Optimum Investment Management, will launch a range of multi-asset, multi-manager funds which can be blended and rebalanced to create bespoke portfolios for clients.
Sesame said the investments were not standalone funds as they were expected to be used in combination with each another to create risk-rated portfolios for clients.
They will be managed by Henderson’s multi-manager team with Tony Lanning, Henderson multi-manager director, as lead manager and Helen Bradshaw as co-manager.
The new investment company is part of a wider wealth management proposition being developed by Sesame which also includes the development of risk profiling tools and a back office system.
George Higginson, Sesame Bankhall chief executive, said: ‘Optimum Investment Management will give adviser firms and clients - even those with modest investments - access to a service and fund managers that they wouldn’t be able to get on their own.’
‘We are helping advisers to write business safely and efficiently, which will become even more important in a post-retail distribution review world. The new service will also give advisers the opportunity to de-risk their business by incorporating a compliance process that helps firms to better manage regulatory risk when writing investment business.’
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by Michelle Abrego on Jun 18, 2013 at 18:29
5 comments so far. Why not have your say?
Paul Barnard
Nov 14, 2011 at 11:17
How is this different to a DIF?
report thisClive Rayner
Nov 14, 2011 at 11:24
For Sesame, read Intrinsic. For Optimum, read Cirilium.
Same idea, different name, as close to a DIF as a network can get.
report thisJon Lowson
Nov 14, 2011 at 12:54
It is not different to a DIF.
It was innevitable that networks would go down this road, effectively mimicing the St James' place model or distributing their own products. The potential profit margins on managing the product, far exceeds the networks share on distributing it
Watch this space for Sesame offering to buy out members businesses, based on the amount of client money they have accumulated in these "Optimum" funds.
report thisMole
Nov 14, 2011 at 22:04
Although we are directly regulated we do use Sesame Bankhall as a service provider and I am far from comfortable with a number of their initiatives since the Sesame takeover with this just being the latest!
report thisDirect Adviser
Feb 09, 2012 at 14:48
As a Sesame member I have not recommended the Sesame One, or should I say Axa Elevate platorm for the very reason that the only gainer in the deal is Sesame with a 0.2% or something kickback from Axa. How any IFA can move clients assets into a more expensive model of a wrap without good justification is beyond me. And how can IFA's charge more for doing less, i.e. putting clients in risk rated passive portfolios with lower amc so charging the client more as a result. This will be the next big miss selling story, so watch this space!
As with the new idea's, all very good but the basic support from the network on the basic guidance of establishing risk and ongoing management is still not there, all very well talking about writing new business, but what about servicing existing investments. How many new clients do you see that have no investments at all that form part of the advice process....VERY RARE INDEED. I'll be waiting with interest to see the fallout in the general market before deciding where my own and those of my clients lie.
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