openwork

Sesame, Openwork and Personal Touch saw the number of complaints against them rise in the final half of last year, according to data compiled by the Financial Conduct Authority (FCA).

Openwork, the restricted network, has become a member of the Association of Professional Financial Advisers (APFA).

Networks Openwork and Sesame saw complaints against them at the Financial Ombudsman Service (FOS) rise in the second half of last year, with Sesame receiving over 90% more claims.

Restricted adviser network Openwork has posted its first ever profit as a standalone trading company, reversing a loss of more than £13m in 2011.

Multi-tied network Openwork has launched four funds which will form the basis of a range of multi-asset model portfolios soon to be available via its investment proposition, Omnis.

Openwork is expanding its investment proposition, Omnis, in a move that will see the business launch a number of multi-asset model portfolios and a fund of passive funds range.

As Openwork gears up for its annual conference, Jaki Platt, partnership director at the firm, says that taking a few days away from the day-to-day running of your business to attend an event is time well spent.

Newcastle Financial Services (NFS), a subsidiary of Newcastle Building Society has renewed its contract with the Openwork network for a further five years.

Openwork, the multi-tied network, will make the majority of its advisers use its distributor influenced funds Omnis Investments from 2013.

Restricted network Openwork is expected to post a £13.3m pre-tax loss after a "significant" Retail Distribution Review (RDR) outlay.