Advisers not affected in OpenMoney restructure and redundancy plans

The firm announced it was sent to "enter a period of significant restructuring" on the back of it having been acquired last year by entrepreneurs Will Mallard and Patrick Leahy. The Financial Conduct Authority has yet to approve any restructuring proposals, which include plans for its financial planning arm to be extended by both acquisitions and organic growth. While OpenMoney acknowledged there is "an expectation of redundancies in the group holding company", a spokesperson confirmed to Professional Adviser that no advisers will be affected. "The proposed corporate restructure wi...