Your IndustryAug 29 2017

Openwork headcount reaches 3,500

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Openwork headcount reaches 3,500

Openwork’s adviser headcount has increased by 17 per cent over the past year to just over 3,500, the network has announced.

The number of affiliated advisers rose across both Openwork and Owl Financial – Openwork’s subsidiary protection only business.

Mark Duckworth, chief executive of Openwork, said: “To continue growing our network, particularly as the total number of advisers in the UK falls, is very satisfying indeed.

“Alongside bringing in new business, this is a key plank of our strategy as we look to build on the strong financial growth that we have delivered over the last few years.”

Openwork’s adviser headcount increased to 3,521 from 3,008 this time last year.

The network is 25 per cent owned by Zurich, but the provider has signed an agreement which will see it divest its holding by March 2020.

According to the Financial Adviser Top 100 rankings, Openwork is the biggest network in Britain and the third biggest financial advice provider in the country by number of CF30 individuals.

Old Mutual Wealth has 3,700 advisers while St James’s Place has 3,540.