Blueprint, one of Openwork’s largest ARs, is quitting the network after the firms failed to agree an ongoing cost structure.
Blueprint has around 85 advisers, making it one of Openwork’s biggest firms.
Openwork proposition and marketing director Philip Martin says: “It has become clear from numerous contract negotiations with Blueprint that our relationship has resulted in volume, but not profit for Openwork and the time is right for us to go our separate ways.”
“Such decisions are crucial to Openwork in its drive to profit, deliver shareholder value and realise its exit strategy. We wish Blueprint founder Andy Thompson and his team at Blueprint well for the future.”