Spicerhaart Financial Services joins forces with Sesame network
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The financial services arm of property group Spicerhaart is joining Sesame network in a deal that will see it become one of Sesame’s largest appointed representatives.
Under the terms of the deal Mortgages Direct wil rebrand to Spicerhaart Financial Services and will continue to provide mortgage, protection and general insurance advice and products across the group’s agency network and also from its customer contact centre based in Colchester.
Spicerhaart Financial Services currently has 65 advisers.
The number of Spicerharrt advisers is expected to hit 90 by the end of the year with plans to grow further next year.
It comes one week after the management restructure across the Sesame Bankhall group, following Sesame’s completed acquistion of Bankhall and PMS last month.
The restructure saw John Cupis become managing director of PMS and John Malone appointed to the role of PMS chairman.
The combined operations of the new Sesame Bankhall Group generated over £45bn in mortgage applications in 2008 and represents over 25% of intermediary-introduced mortgage business.
Sesame and Spicerhaart have been working together since 2006 and the new partnership will provide the platform to strengthen the relationship between the two companies even further.
Paul Smith, group chief executive of Spicerhaart, says: “We have enjoyed a strong relationship with Sesame and its lending partners for some time now and we believe that the time is right to enrich this further by becoming an AR of the UK’s largest network.
“In an increasingly complex regulatory environment having the strength, stability and capability of Sesame to support us will enable the group to realise its ambitions and grow its adviser network.”
Stephen Young, chief operating officer at Sesame Bankhall Group, says: “We are delighted to have consolidated our close relationship with Spicerhaart and we welcome Spicerhaart Financial Services into the Sesame network, which will help provide the launch pad for their future growth and success.
“We continue to build our position as the intermediary market leader of choice and this move by Spicerhaart is testament to the strength of our propositions, our people and the support we provide to advisory firms.”
