Sesame One platform attracts just £500m in first two years

nasdaq

Sesame Bankhall Group advisers have placed just £500m on its Sesame One platform over two years, according to its annual accounts.

Sesame launched the platform, which is a white-label version of Axa Elevate, in November 2010 but says it had accumulated just half a billion pounds of assets by the end of 2012.

The platform is available to Sesame advisers at a lower price than Elevate although Sesame does not disclose the charges.

A statement in the accounts says: “Our bespoke investment platform, One, is now firmly established and by the end of 2012 had accumulated over half a billion pounds of assets.”

At the end of 2012 Axa Elevate had total assets under administration of £5.3bn.

The accounts also show Sesame’s joint investment venture with Henderson is attracting around £1m per week.

Sesame’s accounts published today, revealed the group made pre-tax profits of £4.1m for 2012 despite its network arm reporting a £9.3m loss largely due to its £6m FCA fine.