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OpenMoney founder Anthony Morrow rejoins fintech's board

OpenMoney founder Anthony Morrow rejoins fintech's board
OpenMoney founder Anthony Morrow spent a year away at Cheshire-based financial planning firm Corbel Partners

Anthony Morrow has rejoined the board of OpenMoney, the fintech company he founded back in 2016, after stepping away from the organisation a year ago.

After six years at the helm, Morrow stepped back from his chief executive role in January 2021. But now he is back to provide “ongoing strategic advice and counsel” as a non-executive director.

Morrow set up the Manchester-based digital advice business alongside Moneysupermarket.com founder and friend, Duncan Cameron.

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Originally branded Evestor, it was founded to make financial advice more affordable and accessible for those who are fenced out from the traditional advice market.

When he left, Morrow said he felt it was a good time for him to pursue opportunities in the social impact and charity space. He went on to become non-executive chair of Cheshire-based financial planning firm Corbel Partners.

His return to OpenMoney some 12 months later comes after "a period of change" in the business, which has seen it focus more effort on its workplace financial advice and benefits solution, WorkLife.

In a statement provided to FTAdviser, Morrow said the business was now "better positioned than ever" to solve the advice gap.

“The size and seriousness of what has become known as the advice gap is very real and widely recognised," he explained.

"OpenMoney was created with the sole purpose of shedding as much light as possible on the situation while also providing a suitable long-term and scalable solution to the problem.

"The quality of the proposition across OpenMoney and WorkLife, combined with the passion of the people here, means the business is better positioned than ever to make good on that purpose."

OpenMoney is led by managing director Michael Davis while Leanne Williams - who joined in 2021 - oversees operations, completing the senior leadership team.

Commenting on Morrow’s return to the business, Davis said: "Anthony’s knowledge and understanding of OpenMoney, the sector and the wider opportunity are second to none.

"This along, with his passion for accessible and affordable financial advice, make for a powerful combination that can only be of benefit to the business. It is a real bonus to have him back on board."

Started in 2019, the WorkLife service was set up to make employee benefits affordable and accessible to all UK businesses, no matter their size.

It sits under the OpenMoney group, alongside the investment platform 'Evestor'.

In July 2021 OpenMoney also launched its online mortgage advice service for first-time house buyers, a year after its initially planned date due to the pandemic.

ruby.hinchliffe@ft.com