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Openwork to launch exec-only platform

Openwork to launch exec-only platform

Openwork is launching an execution-only offering for its advisers to cater for less wealthy clients after the retail distribution review (RDR).

The multi-tied network is considering six different models for the offering including web-based, telephone-based or webinar-based services, which will be powered by either Investment Funds Direct Limited or Zurich.

Philip Martin (pictured), propositions and marketing director at Openwork, said: 'We are looking at an execution-only offering as Openwork recognises there is a reasonable proportion of advisers' clients base at risk of being disenfranchised post retail distribution review because of economics.

'We are interested in ways that the adviser can retain their relationship with those clients and deliver a proposition in an appropriate way at an appropriate cost.'

Openwork is the latest advisory firm to offer an execution-only service. Guildford-based IFA firm Informed Choice announced the launch of a platform earlier this month and IFA consolidator Perspective Financial Group unveiled plans for a service in November.

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