Openwork has passed the 2,000 adviser mark in its core network for the first time in five years following a period of strong growth that has boosted its group adviser numbers to a record 3,200.
In recent years Openwork has significantly expanded its core network, which excludes its protection business Owl and nationwide IFA firm 2plan wealth management, with large practices such as Just Mortgages becoming Appointed Representatives.
Recruitment will continue to be a key focus for Openwork in 2017, with the network having recently announced the appointment of Stephen Wildgoose as recruitment and growth director. Wildgoose, who was previously head of network recruitment at Sesame Bankhall Group, leads a team of regional recruiters including Hayley Stansfield, Sarah Rodway and Leno Addavide.
Openwork has also embarked on the next stage of its programme to help member firms build succession planning into their practices, having taken more than 40 candidates through its adviser training academy since launch in 2014.
Openwork, which is majority-owned by its advisers, is making structural enhancements to the network including moving from generalist support teams towards specialists with significant experience in their respective fields.
Mark Duckworth, CEO of Openwork, said: “Surpassing 2,000 advisers in the core network for the first time in five years is a fantastic achievement for the business during a period in which overall adviser numbers in the UK have declined. We believe this growth is a clear endorsement of our proposition and unique structure, which gives advisers a share of the equity in the business and a say over its direction.
“As a business that has been profitable for a number of years now, we believe advisers are increasingly recognising the benefits of joining a network that will not only thrive in the years to come but will automatically give them a financial stake in its success. Recruitment will continue to be a focus for us in 2017 and we look forward to talking to high quality advisers who might be considering their options in this challenging market environment.”