Openwork Group’s adviser headcount now stands at 3,521, up from 3,008 this time last year, says the company, representing growth of 17%.
 
The increase makes Openwork one of the UK’s largest networks of financial advisers. Openwork says the number of affiliated advisers rose across both Openwork and Owl Financial – Openwork’s subsidiary, protection only business.

Openwork advisers offer a range of financial advisory services including retirement planning.
 
Mark Duckworth, CEO at Openwork, said: “To continue growing our network, particularly as the total number of advisers in the UK falls, is very satisfying indeed. Alongside bringing in new business, this is a key plank of our strategy as we look to build on the strong financial growth that we have delivered over the last few years.”

  

Openwork Limited operates as a directly authorised, multi-panel distribution network. It has panels for pensions, annuities and protection (life assurance, critical illness, general insurance), and selects products via single high-volume providers for investments. It uses two investment platforms, its own and Zurich’s.
 
Openwork advisers can access whole-of-market products, via referral to Openwork Market Solutions, the IFA arm of the group. The company is owned - via ordinary shares - by its advisers with a 67.5% share, 7.5% by its employees and 25% by Zurich Financial Services Group.