The Openwork Partnership
Mutual-style partnership across mortgages, protection & wealth.
Created in 2005 from the merger of Zurich Advice Network with two other firms, Openwork has grown into one of the UK's largest networks by adviser headcount. Partner-shareholders sit alongside majority owner Bridgepoint (since 2020). Strong distribution heritage in mortgages and protection, with growing wealth presence via the Omnis fund range.
In short
One of the UK's largest restricted networks with a strong mortgage & protection heritage. Partner-owned governance ethos.
01 · Charging Model
What it costs the client — and you.
Total client cost is what regulators care about — and what clients shop on. We unpick it across advice, platform and product.
Our take: Network retention typically 15–25% of gross. Mortgage/protection writing retained at higher percentages.
02 · Investment Proposition
Where client money goes
Omnis Investments (in-house fund range) + Graphene Investment Management. Restricted panel.
- Omnis Investments — multi-asset and single-strategy fund range (~£11bn AUM)
- Graphene IM — discretionary MPS service
- Restricted to Omnis + selected third-party panel
- Strong mortgage & protection product range
03 · Tech Stack
What you'll work with daily
- Intelliflo iO
- Toolbox CRM
- Aviva/Wrap platform
- Bespoke MI
Our take: Toolbox is functional but dated by modern standards. Mortgage tech is sector-competitive.
Strengths
Where it shines
- Strong protection & mortgage culture
- Established back-office
- Partner share scheme
- Multi-line economics work for diversified firms
- Robust compliance support
- Lower restrictive covenants than SJP
Watch-outs
Where it stings
- Restricted investment universe limits HNW wealth work
- Brand less powerful than SJP/Quilter for HNW
- Tech feels dated vs True Potential
- Investment proposition not as deep as IFA peers
04 · Who owns it
Ownership
Bridgepoint took majority in 2020 leaving Partners with meaningful equity participation — a genuinely shared ownership model rare in UK consolidation.
Currently: Bridgepoint majority, Partner shareholders
05 · Day-to-day
Culture
Genuinely partnership-feel for a network of this size. Annual Partner conference is well-regarded. Regional structure works for advisers wanting local peer support.
06 · When you leave
Exit options
Internal book transfers between Partners are common. External moves are supported with reasonable covenants. Partner shares vest on exit.
07 · Payout Economics
~75–85% of gross after network charges
Self-employed Partner model. Charges include network levy, PI contribution and tech. Mortgage/protection writing retained at 85–95% — strong economics for multi-line firms.
08 · Real Voices
What advisers and clients actually say
A balanced selection of public reviews from Trustpilot, Glassdoor, the FT and trade press — both glowing and damning. We don't cherry-pick.
"Used my Openwork adviser for mortgage, life insurance and pensions. One contact for everything — fantastic service."
"Pension performance has been below market for 3 years. Felt the in-house fund range was the priority over my returns."
Best of the multi-line networks
"Best of the multi-line networks if mortgage & protection are core to your client base. Compliance is fair, payout is reasonable."
"Strong for diversified practices. Less compelling if you're pure wealth — Omnis is fine but it's restricted."
Tech needs work
"Toolbox is showing its age. Promised improvements have been slow to land."
Fortis Connect Verdict
Best for
Mortgage & protection-led practices wanting wealth uplift, with a co-ownership equity story.
Watch out for
Restricted investment list for HNW pension transfer work; tech modernisation pace.
Considering Openwork? Get an unbiased second opinion before you sign.
Talk to us →09 · Regulatory & Corporate Timeline
What's happened, and when.
- 2024
Omnis Investments FCA review on value assessments — no action
- 2020
Bridgepoint majority acquisition