Openwork has appointed investment consultant Mercer to help it run its Omnis Managed Portfolio Service.
The service is due to be launched in April and Mercer will help inform its asset allocation decisions by providing research and advice on markets, economies and investment strategies.
Mark Duckworth, chief executive of Openwork, said: “As the global leader in consulting Mercer was our first choice to provide insight and support to our new service and we are thrilled to work with such a prestigious firm.
“Our new service means our advisers will be able to enjoy one-stop access to some of the world’s best fund managers, with asset allocation informed by a leader in investment consulting, in a single cost-effective solution.
“We think this proposition should hold real appeal for advisers at a time of significant uncertainty for markets as well as the UK and global economies.”
Openwork is launching the service to build on the success of its £4.2bn investment proposition Omnis.
The discretionary service will be exclusively available to Openwork advisers and their clients and will leverage Omnis’ current 10 specialist sector funds.
This includes bespoke strategies run by leading groups including Woodford Investment Management, Schroders and Threadneedle.
The new service is designed to offer a cost-effective tailored solution for clients seeking to outsource asset allocation decisions to a specialist professional investment team.
Michael Curtin, partner and senior consultant at Mercer, said: “We are very pleased to have been selected by Openwork and look forward to bringing our asset allocation expertise to support its new discretionary service.”
damian.fantato@ft.com
