Mark Duckworth

Openwork reveals 18.3% rise in pre-tax profits

Openwork has reported an 18.3% increase in pre-tax profits to a record £22.6m in the year to 31st December 2018.

This is the seventh year of profit growth that the financial advice network has witnessed, and it has paid £2m to shareholders as part of its first ever dividend.

It also revealed that assets on its platform increased by 11% to £6.9bn, while the volume of mortgage lending rose by 21% to £16.4bn.

Openwork now has 3,865 advisers across its network.

Mark Duckworth, chief executive at Openwork (pictured above), said: “We are growing the scale of our advice business across our diversified offering and this has meant we have been able to help more clients than ever.

“That is enabling us to invest in our academy to develop more advisers, as well as in our front-end systems to enable our advisers to serve our clients more effectively.”

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