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Openwork sets up adviser loan deal

Openwork is offering its advisers access to loans through the launch of its cash flow finance initiative.

The scheme will allow advisers access to lending options including unsecured loans, commercial mortgages, secured loans and overdrafts through brokerage Fiducia Commercial Solutions.

Openwork will cover the brokerage fee for all of the lending options made available by Fiducia.

The initiative also gives advisers access to funding for acquisitions, recruitment and retention and working capital.

Openwork proposition and marketing director Philip Martin says: “The transition to fees will inevitably put firms’ cash flow under strain and our initiative with Fiducia will enable advisers to access funding that is right for their business at no cost in terms of broker fee.”

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