Openwork is looking to launch a new national arm in the next 12 months.
In an interview with this week’s Money Marketing, new chief executive Mary-Anne McIntyre says the as yet unbranded proposition will complement its IFA national arm 2Plan Wealth Management and its multi-tied and single-tied network offering, branded under the Openwork banner.
McIntyre says she wants to offer advisers a full range of options in the run-up to the RDR. The firm has 2,300 advisers, including 205 2Plan advisers.
She says: “We are now looking at potentially launching a national proposition in the lead-up to the RDR. We will be able to talk more about the proposition over the next six months.”
Brunning Newman Houghton director David Brunning says: “Openwork is going to have to come up with something very special to be able to compete with other nationals. It may be too late and too close to the RDR to launch something that will appeal to advisers.”
In January, Aegon-owned Positive Solutions announced a restructure of its pricing model to allow it to operate as a network and a national.
Full the full interview, see this week’s Money Marketing.