Openwork's 2Plan finishes compensating clients after putting £1m aside

The network had set aside £558,750 in July last year for potential redress relating to ongoing service and a further £501,575 in connection with a strategic asset allocation and rebalancing issue. Both matters have now been closed, it is understood. PA understands that the eventual redress bill was substantially below the level of the original provisions, with the final sums understood to be around a tenth of the amounts initially set aside. The issues are understood to have arisen where processes requiring manual intervention did not operate as intended, despite the relevant polic...