Sesame Bankhall Group (SBG) generated a trading profit in 2012 of £4.1 million, compared to £2.2 million in 2011.
CEO George Higginson said the group has invested millions of pounds as part of its long-term vision and commitment to professional financial advice.
He said: “This has enabled SBG to evolve into a broadly-based financial services group, offering advisers greater choice and value than ever before. In challenging market conditions and in the run-up to the implementation of the FSA’s Retail Distribution Review (RDR), our adviser support and new enhanced range of services helped to strengthen SBG’s market leading position.
“Sesame’s adviser productivity increased by an average of 14% and the network ended 2012 with more advisers than at the beginning of the year, which is a significant achievement in the current climate.”
SBG now operates the UK’s fifth largest mortgage valuations business, following its launch in 2011, demonstrating the group’s successful diversification and bolstering SBG’s mortgage services business.
SBG strengthened its mortgage services further in 2012 with the launch of Sesame Bankhall Specialist Lending Services, a new mortgage processing service to help advisers place complex business, and Sesame Bankhall Legal Services, to help lenders and advisers access legal firms for conveyancing and other legal services.
A new General Insurance portal was also launched last year and SBG also began its new long-term partnership with Connells, covering a range of initiatives including protection business.
Higginson added: “SBG’s successful performance in 2012 has continued into 2013, with our new broader range of propositions leading to further growth in adviser recruitment, revenue and assets. SBG can offer a home for all types of professional financial advisers, whether they are independent, restricted or a combination of the two.
“This is enabling SBG to consolidate its position as the UK’s largest distributor of financial advice through directly regulated intermediaries and appointed representatives, across life, pensions, investments and mortgages.”
