Openwork agrees extended deal with old Zurich platform after Embark Advance rebrand

Continuity beyond 2021

clock • 2 min read

Openwork has confirmed it will use one of Embark’s investment platforms, which it agreed to purchase from Zurich late last year when Openwork was considering other platform providers.

Openwork, which has around 3,900 advisers in its network, is the single largest user of the Zurich platform, which was rebranded as Advance by Embark overnight. The advice network confirmed this morning that at least 800 of its advisers would use the newly-titled Advance by Embark platform, comprising £6bn of assets under administration. Embark Group announced it would acquire Zurich's investment and retail platform in November last year and the deal was completed overnight. This brought about £11bn assets under administration and close to 140,000 adviser clients to Embark. Since t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Quilter reports platform net inflows of £1bn in first quarter

Quilter reports platform net inflows of £1bn in first quarter

Ongoing adviser charging review to start shortly after FCA talks

Jenna Brown
clock 24 April 2024 • 2 min read
Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read