Openwork shareholders to split £2m dividend

Adviser network focused on growth

Jenna Brown
clock • 2 min read

Openwork adviser shareholders are set to share a £2m dividend after the network reported 'record' pre-tax profits for 2018.

The results, released on Tuesday, reported a £22.6m pre-tax profit resulting in its first-ever dividend of £2m. The UK's largest adviser network became majority-owned by the Openwork Partnership, which represents member firms, when Zurich divested its 25% shareholding in April last year. The results said the network had achieved its seventh year of profit growth. Profit before tax rose 18.3% in the year to 31 December 2018. Adviser numbers were also up by 262 to 3,865. Assets on the platform increased 11% to £6.9bn and mortgage lending volumes rose 21% to £16.4bn. Recruitment ...

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