Openwork-owned advice network 2plan’s voluntary requirement (VREQ) by the Financial Conduct Authority (FCA) has now been lifted.
In October 2024, 2plan was restricted from entering any new agreement with any introducer-appointed representative (AR) or AR after the FCA flagged concerns about the oversight of its "rapid" expansion. The advice network said the VREQ allowed various aspects of the central operations to be resourced and managed in a way that is now "future proof". "The firm now has the capacity and bandwidth to accommodate the future plans for growth in adviser and firm numbers, whilst meeting the needs of customers," 2plan said. 2plan was snapped up by Openwork back in September 2010. "With t...
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