The decision follows a strategic review within Bluefin Advisory Services which concluded that as part of its development strategy, it can no longer provide services to businesses that do not carry its brand. As a result, the Thinc networks – Thinc Network Services Ltd and Thinc Assured Network Ltd – will close.

The networks, which were not rebranded in January as part of the Bluefin Advisory Services launch, have 149 member firms, all of which run wholly independent businesses, consisting of around 290 individual advisers.

Gregg Taylor, managing director of financial advice, Bluefin Advisory Services, commented: “The decision for Bluefin Advisory Services to close its network operations is entirely based on the strategy to develop Bluefin Advisory Services as a premier provider of financial advice in the UK under a single brand and is an indication of the clear strategic direction we have. We have ambitious growth plans and, with the integration phase of the new business well underway and our client base continuing to develop, we are very confident of consolidating our position as a powerful player in the UK.”

Stephen Young, sales and marketing director at Sesame, commented: “We have worked very hard to secure this exclusive deal and are delighted to be able to offer Thinc network members the opportunity to continue building their businesses with the help of Sesame’s financial strength, regulatory expertise and our wide range of valuable support services. We want to maintain our position as the UK’s leading network and support services.”