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Bankhall delivers on pledge to go beyond compliance

Bankhall has launched additional member services as part of a new phase of expansion meaning firms can now access a widen range of support than purely compliance guidance, in line with a pledge in the summer to broaden the business beyond regulatory concerns.

In August in a video interview with FTAdviser, Stephen Gazard, managing director of Sesame Bankhall, revealed the support services company was in the process of relaunching and simplifying its proposition, as he lamented a past obsession with compliance.

He said: “It is simplifying the explanation of what is there while widening the services. My frustration as an ex-IFA business owner is that I think at the moment Bankhall is too focussed around compliance services.”

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Under the new services announced today, firms will be offered an outsourced auto-enrolment proposition, data management services, adviser technology and legal services.

Auto-enrolment and middleware will be introduced via Howden Employment Benefits, giving advisers the opportunity to strengthen client relationships, while the new ‘dataspace’ solution helps firms meet regulatory requirements and the Data Protection Act, Bankhall said.

In terms of adviser technology, services include web-based business management system Intelliflo Intelligent Office. This comes in addition to Bankhall’s Practice Management System and investment processing from FE Analytics.

Working in partnership with Howden Insurance Brokers, the network also now offers members a professional indemnity insurance facility, while the range of legal services has been updated to help create an extra revenue stream without the need for extra qualifications.

Stephen Gazard, managing director at Sesame Bankhall Group, said: “From listening to our members we know that it’s more than just compliance and regulatory issues that keep them awake at night.

“Firms we work with are telling us they want access to a range of support services that will help them manage and grow their businesses in the most efficient way possible.”

Additional reporting by Ashley Wassall