Openwork exceeds 3,000 advisers for the first time

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Openwork exceeds 3,000 advisers for the first time

Adviser network Openwork has exceeded 3,000 advisers across the group for the first time in its history despite a long-term decline in the number of advisers working in the UK market.

Openwork, which recently posted a profit for the fourth consecutive year, now has more than 3,000 advisers within its core network, its protection business Owl and its nationwide IFA firm 2plan wealth management.

Openwork is also expecting to surpass £10bn of mortgage lending this year after seeing business increase almost 50% year-to-date compared to the same period last year

In February 2016, Openwork announced that it had signed an agreement that will see insurer Zurich divest its 25% shareholding in the network within four years.

Mark Duckworth, chief executive of Openwork said: said: "Exceeding 3,000 advisers for the first time in Openwork's history is a huge achievement for the business, particularly in light of the long-term fall in adviser numbers in the UK.

"Our growth, however, has not come at the expense of quality and it is extremely pleasing that Openwork continues to attract high-calibre advisers; something that speaks to the significant appeal of our proposition but also our unique structure, which gives firms joining us part-ownership of the business and influence over its direction."

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