openwork

Will Old Mutual Wealth have any use for the independent advisers it has acquired as part of its deal to buy Intrinsic?

The investment arm of restricted network Openwork has launched seven new funds which the business hopes will attract £150m worth of inflows in the first year.

Network Openwork has appointed Christopher Rodrigues as chairman.

Adviser network Openwork has announced that assets have reached £1bn, across its own platform and the Zurich investment platform.

Adviser network Openwork's chairwoman Kate Avery is to step down at the end of the year after more than four years in office.

Restricted advice network Openwork has reported its first ever profitable year thanks to a "more productive, better quality" adviser base.

Restricted adviser network Openwork has put expansion plans on hold shortly after reporting its first ever profitable year, and will instead focus on the quality of its operation.

The Financial Ombudsman Service (FOS) threw out two-thirds of gripes against the most complained-about advisory groups in the first half of 2013, figures show.

National IFA 2plan has reported record turnover for the first few months of 2013, after posting its first-ever net profit in 2012.

Mid-market independent financial advisers could start to disappear in as little as three years' time as regulatory changes and market pressures start to bite, according to a senior figure at Openwork.