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Key Retirement Solutions in exclusive Openwork tie-up

Openwork has struck a deal with Key Retirement Solutions for exclusive provision of equity release schemes to the restricted adviser network.

KRS will become the sole endorsed route for equity release business for Openwork’s appointed representatives.

In April 2013 it emerged that Partnership could pay Openwork more than £15m as part of a deal to become the sole providers of enhanced and standard annuities.

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In the third quarter of last year, the Equity Release Council reported the largest quarterly volume of sales since the equivalent period in 2008, representing a 14 per cent rise compared to the previous year.

Dean Mirfin, group director at KRS, said: “This service will add a robust proposition to Openwork’s existing advice model and we look forward to working closely together to develop this area of advice.”