NetworkJan 29 2019

Openwork sees record year for adviser recruitment

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Openwork sees record year for adviser recruitment

Openwork has said 2018 was its most successful year for a decade in terms of mortgage firm and adviser recruitment.

During 2018 the network recruited 508 mortgage advisers in both new and existing firms, resulting in the total number of advisers in the network standing at 3,885.

The network plans to recruit an additional 250 advisers over the next three years.

Last week (January 22) it launched a lifetime mortgage in partnership with Canada Life as part of its expansion plans into the at-retirement market.

John Cupis, Openwork's mortgage director, said: "These historic results are testament to our strong proposition and support for firms wanting to grow or diversify their client offering.

"We established 'Route to Wealth' as a bespoke upskilling programme last year for mortgage firms wanting to broaden into pensions and investments. It is available to new firms and some have taken it up within a few months of joining."

Openwork is now the UK's largest financial services network and it operates a panel of over 50 lenders for mortgages.

Last year the company was sold by Zurich, meaning the network is now majority owned by the partnership which represents its member firms, with Openwork's employees holding a minority stake.

Stephen Wildgoose, Openwork’s recruitment and growth director for mortgages and protection, said: "I am incredibly proud of what we have achieved in the past 12 months. In 2018 the recruitment team appointed 68 new mortgage firms in a monumental year for our adviser recruitment drive.

"It signifies a strong endorsement from advisers who choose to develop their careers with Openwork. We are increasingly recognised in the industry for being a profitable, growing, supportive and positive partner, providing outstanding services for professional advisers in the UK.

"We look forward to more businesses and advisers joining us in 2019 and beyond."

damian.fantato@ft.com