Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/new-model-adviser/article/a640570
Openwork ties advisers to DIFs post RDR
by Jun Merrett on Dec 06, 2012 at 10:32
Multi-tied network Openwork will make it compulsory for the majority of advisers to use its distributor influenced funds (DIF) Omnis Investments from next year.
From the second quarter of 2013, the network will move from allowing its advisers to use its current investment panel of 35 fund groups instead making it compulsory for the majority to use it’s the Omnis Investments range.
Openwork will select a small number of advisers who will be able to use a wider range of investment, who will still use Omnis as their core investment offering.
Omnis Investments currently offers a range of fund of funds run by Octopus, and single manager funds run by Threadneedle.
Philip Martin (pictured), propositions and marketing director at Openwork, said the firm was looking to expand its offering and have ten fund groups on the Omnis panel.
'From next year we will expand the Omnis offering and a small number of advisers will have a wider remit beyond Omnis, but it will remain their core investment offering,’ he said.
'We've decided to mandate the rest of the advisers to Omnis because we want simplicity in the process and deliver high quality investment management and quality choices to the advisers.'
News sponsored by:
Today's top headlines
iShares: Time to shatter the ETF myths
As result of industry changes - the retail distribution review - and a growing focus on cost-efficient solutions, we anticipate the number of investors using ETFs will rise significantly over the coming years.
But as with any newer product, especially in the financial world, various misconceptions about ETFs have perpetuated over the years and iShares is committed to addressing and ultimately dispelling these.
More about this article:
More from us
- Openwork hit by £1.8m complaint redress costs
- Openwork takes on ex-PosSol recruitment director
- Openwork to cut adviser fees by 25% for platform business