Openwork is to offer advisers the choice of three business models - including a broadened multi-tie proposition - as part of a three-year strategy to help them adapt to RDR requirements.
The move follows a major review conducted with the network’s partners, principals and advisers in Q4 2009. It will see Openwork offer appointed representatives the choice of a single-tied model, a multi-panel multi-tie model, or a whole of market IFA model. Openwork CEO Martin Davis says the restricted advice stream will form the bulk of the network’s business and it intends to 'dominate' the restricted market post 2012. However, the network is keen to offer a range of options for current and potential members. Davis says: “We want to offer advisers the choice so even if they...
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