Philip Martin, marketing director at Openwork, has revealed plans for “a major refresh of our mortgage panel.”
Speaking to FTAdviser, Mr Martin said: “We are currently undertaking a major refresh of our mortgage panel, designed to ensure we provide our advisers with access to both the key providers their clients expect as well as to smaller, niche lenders servicing different lending needs.
“Mortgages remain a core part of the Openwork proposition.”
His comments came as he revealed in 2014 business volumes were up overall with “a particularly strong performance in mortgages and investments.”
Total platform assets now exceed £2bn in two years, with Openwork advisers having a choice between two platforms offered by Zurich and IFDL.
Mr Martin said the majority of our investment business is coming through this route, with customers taking advantage of “cheaper platform cost driven by Openwork’s scale.”
The intermediary’s investment proposition Omnis, which launched in 2013, took more than £1bn invested in just over 10 months.
In terms of net funds, Mr Martin said this propelled Omnis into the top 10 UK retail asset management companies from a standing start.
He said the range would be expanded in 2015 to offer a new multi-asset income fund, designed specifically to meet the needs of those seeking an income in retirement.
Mr Martin said: “We expect the liberalisation of pension rules in April to provide a major stimulus to retirement planning and income provision.
“2015 will also see further intakes to the Openwork Academy, a structured programme specifically designed to train graduates up to required advice-giving standard before placement with sponsoring Openwork advice firms.
“This is an exciting initiative for us as we support our businesses plan for growth and, in some cases, for succession.
“Providing a supply of high-quality, well-trained, professional advisers for the future is key to that and the academy is central to our delivery.
“Despite market volatility, we do not see any diminution in the number of clients seeking quality advice or wishing to invest and the general lack of advisers makes that even starker. Openwork looks forward to continuing to do that in 2015 and beyond.”
emma.hughes@ft.com
