The Openwork Partnership has achieved its best-ever quarter for recruitment.
The announcement by one of the UK’s largest and longest-established financial advice and investment networks comes as it begins to deliver a strategy for growth following its recent rebrand.
In the first three months of this year, 36 new appointed representatives and 257 advisers joined the network, making it the highest-ever quarter for recruitment ahead of the previous record in the third quarter of 2009.
Future recruitment plans look healthy, with a further 46 appointed representatives and 337 advisers in the application pipeline.
Claire Limon, Wealth Director at The Openwork Partnership, said: “The rebrand earlier this year signalled our plans to target becoming the UK’s leading advice network ranked on better outcomes for more clients, by reputation and by growth across the business.
“Record recruitment across the network in the first three months of the year, with particular success in the mortgage and protection sector, is an excellent first step and we have a strong pipeline in place for future recruitment.”
Growth across the network, which has continued to recruit during the covid-19 pandemic, builds on current success and confidence throughout the business, which includes plans to further extend its distribution and range of propositions.
Around 4,300 advisers are now part of the network and there are more than 700 member firms – which is the highest number of firms at any time over the past 10 years.
New firms joining have included Andrews Property Group, which helped take the total of mortgage and protection advisers to more than 2,500. Mortgage advisers at Andrews and other firms are being supported to move into wealth advice.
The Openwork Partnership’s specialist protection advice business, Owl Financial, is supporting advisers to move into mortgage and wealth business, thereby further expanding services across the network.
The Openwork Partnership is seeing strong buyer demand in the mortgage market, with the extended Stamp Duty holiday and the opening up of the 95 percent loan-to-value market providing a buoyant outlook. This builds on a strong 2020, which saw total completions increase by three percent to £19 billion, despite lockdown shutting the housing market for two months.
The partnership operates as a directly authorised, multi-panel distribution network.
Its new website - www.theopenworkpartnership.com - includes an interactive map enabling more clients to access support from the network.