National network Openwork has taken on 930 protection advisers as part of a distribution deal with MetLife, Mark Duckworth, managing director of Openwork, has said.
National network Openwork has taken on 930 protection advisers as part of a distribution deal with MetLife, Mark Duckworth, managing director of Openwork, has said.
Mr Duckworth said the firms have agreed to transfer up to 930 of MetLife’s self-employed advisers and implement a new distribution agreement in respect of MetLife’s Accident Protection product.
The agreement provides Openwork with an expanded nationwide network from which it can distribute its broader protection product range.
The firms have set a completion date of 1 November for the transfer of self-employed sales advisers and MetLife staff.
Background
In January, Openwork announced that assets on its platform, which is powered by Investment Funds Direct Ltd and launched in January 2013, hit £1bn.
At the time, Philip Martin, proposition and marketing director at Openwork, said: “We have worked very hard to help advisers understand how platforms can increase efficiency and assist their transition to fee charging, so it is extremely pleasing to see them embrace the technology and a new way of working.”
