Openwork appoints Mercer to support new discretionary service

Openwork has appointed leading investment consultant Mercer to bring institutional-level insight and expertise to its forthcoming Omnis Managed Portfolio Service, due to launch in April.
Openwork, which is launching the service as part of its drive to build on the success of its £4.2bn investment proposition Omnis, has appointed Mercer to help inform its asset allocation decisions through the ongoing provision of research and advice on markets, economies and investment strategies.
The discretionary service, which will be exclusively available to Openwork advisers and their clients, will leverage Omnis’ existing 10-strong range of specialist sector funds, which includes bespoke strategies run by leading groups including Woodford Investment Management, Schroders and Threadneedle.
The new service is designed to offer a cost-effective tailored solution for clients seeking to outsource asset allocation decisions to a specialist professional investment team.
Mark Duckworth, CEO at Openwork, says: “As the global leader in consulting Mercer was our first choice to provide insight and support to our new service and we are thrilled to work with such a prestigious firm.
“Our new service means our advisers will be able to enjoy one-stop access to some of the world’s best fund managers, with asset allocation informed by a leader in investment consulting, in a single cost-effective solution. We think this proposition should hold real appeal for advisers at a time of significant uncertainty for markets as well as the UK and global economies.”
Michael Curtin, Partner and Senior Consultant at Mercer says: “We are very pleased to have been selected by Openwork and look forward to bringing our asset allocation expertise to support its new discretionary service.”