Bankhall’s managing director is “bullish” about the future, as the latest post Sesame development sees Distribution Technology become its research partner, taking three senior executives in the process.
The support services provider appointed the investment risk profiling and financial planning firm to become its ‘preferred investment technology partner’, taking Bankhall’s existing research capabilities and ”wrapping it in much slicker technology”, according to Stephen Gazard.
This will be the first time that Distribution Technology has worked with such a provider to construct an independently researched and approved panel of funds, based on quantitative and qualitative analysis.
The exclusive panel will be available for Bankhall client firms to use as part of a “robust end-to-end investment advice process”.
The new service will be rolled out to firms later this year, with Mr Gazard telling FTAdviser he is “bullish about the future” adding that “with the depositing of the wealth network now done with, we’re driving the business forward with Aviva in the background”.
In April this year, Sesame announced it would be closing its AR network for wealth advisers on 31 July, following a strategic review into the business launched by owner Friends Life in 2013.
As part of the deal with Distribution Technology, Jason Dewar and Ian Clarke will join its asset and risk modelling team. Previously part of Bankhall’s research department, they will help grow the range of research and profiling services provided through Dynamic Planner.
In addition, senior account manager Pam Brunt will also join Distribution Technology’s IFA account management team. Led by James Smith, who recently joined from Axa Elevate, the team should ensure consistency of research for Bankhall members.
The moves are aimed at providing continuity for advisers and clients, commented Mr Gazard.
These changes follow a senior reshuffle at Sesame Bankhall Group last month, following the completion of its strategic review. This saw the exit of mortgages managing director John Cupis, who popped up as managing director at Openwork.
More recently, SBG’s Lisa Martin left the group to become development director at LSL’s financial services business.
peter.walker@ft.com
