Openwork is pleased to announce that its platform assets have surpassed £4bn for the first time.
Openwork offers advisers its own platform, launched in January 2013 and powered by Investment Funds Direct Limited (IFDL), and the Zurich Investment Platform, which was made available to network members in early 2013.
Assets raced to £1bn in the full first year since their launch and have since quadrupled as advisers have increasingly recognised the role platforms can play in helping them deliver good client outcomes while building value in their own businesses.
Mark Duckworth, CEO of Openwork, says: “For the platforms to have reached £4bn in little over three and half years is a fantastic achievement and highlights the extent to which our advisers have embraced this technology as a means to promote stability and growth through increased efficiency. It is particularly pleasing that growth has been consistently strong across both platforms despite a backdrop of heightened volatility and market uncertainty.
“This latest milestone is another demonstration of how Openwork, now in its fourth year of profitability, enables advisers to manage their own costs and help them compete successfully in a world in which consumers will increasingly shop around for advice.”