Openwork is set to expand its range of multi-asset fund and model portfolio options available through its Omnis investment platform, proposition and marketing director Philip Martin has told FTAdviser.
Mr Martin said Omnis had already in 2013 been able to develop seven new multi-asset funds “at favourable terms” that would launch in the new year, and that alongside these the intermediary would also roll out three new “auto-rebalancing model portfolios”.
He said: “Openwork’s scale and significant asset flows have enabled us to expand the Omnis proposition to deliver seven new funds at favourable terms compared to equivalent market offers.
“These funds will launch next year, alongside three auto-rebalancing model portfolios (made up of the new funds) that will be overseen by Openwork’s investment committee.”
The Omnis investment platform features funds run by a range of fund managers including Schroders, Jupiter, BNY Melon and Octopus. The portfolios will be the first vehicles that are run by Openwork itself.
Discussing wider 2014 priorities for the Zurich-backed network, Mr Martin said Openwork would support advisers through the Retail Distribution Review and build on it’s mortgage market presence.
He said: “Last year we invested in technology and support to assist the service delivery of our advisers and their move to recurring fees.
“We will continue this in 2014, primarily through a range of ‘apps’ and online adviser tools as well as a programme of workshops, masterclasses and business consultancy services.
“With the Mortgage Market Review approaching, we are also doing more to support our mortgage advisers to take advantage of an improving market and prepare them for the changes coming under the new rules.”
Mr Martin also said Openwork would look to continue to ‘recruit’ advisory businesses, saying he believes the firm will benefit from the disturbance caused by the RDR as competitors examine their models and move away from independent status.
He said: “Our recruitment strategy is all about the quality of business that choose to join us, not the quantity. Moreover, we believe we will benefit from the disturbance in the sector as competitors examine their business models and IFA firms question whether they can remain independent.”
Finally, Mr Martin said Openwork intends to invest in technology to make its advisers’ lives easier and customer engagement simpler.
Mr Martin said: “We have developed a unique online marketing toolkit, called Smart Hub, which enables advisers to quickly and easily personalise professionally designed, pre-approved marketing material.
“We are expanding the content available on Smart Hub and including new features like fulfilment, so that advisers can create a campaign and deliver it to selected clients, at the touch of a button and at very little cost.”
