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The Openwork Partnership and Embark Group deepen strategic relationship

The Openwork Partnership and Embark Group (Embark) have agreed Heads of Terms on extending their existing distribution agreement to 2026 as they strengthen their strategic relationship. This concludes a successful year working together following Embark’s acquisition of Zurich’s Investment and Retail Platform.

The Openwork Partnership is one of the UK’s largest and longest established financial advice and investment networks and is a cornerstone client of Embark. It is one of the largest distribution partners of Advance by Embark, with the majority of The Openwork Partnership’s wealth advisers on the platform. Advance by Embark is a multi-award winning adviser platform and is The Openwork Partnership’s primary wealth platform for new business.

Embark and The Openwork Partnership will continue to work closely together on developing the platform proposition to open up market access to the next generation of clients and further enhance the experience for existing clients.

The agreement underpins The Openwork Partnership’s strategic plans for growth and investing in technology in its wealth business,  focused on broadening options and products.

Mike Morrow, Chief Commercial Officer at The Openwork Partnership, said: “Advance by Embark is an award-winning platform with a strong track record of innovation and we look forward to cementing a genuine partnership approach following a successful period of due diligence. The long-term agreement enables us to build on our shared goals and ambitions for the benefit of our advisers and their clients.”

Phil Bungey, Chief Operating Officer, Advance by Embark, commented: “This agreement is a reflection that our partnership is working exceptionally well and that we have been able to deliver on our commitments to service and delivery. The Openwork Partnership is a highly valued customer and partner and it’s really exciting to cement our long-term collaboration, setting out the strategic direction for the next five years. We are looking forward to building on what we have already achieved, continuing to provide value to The Openwork Partnership and its network of advisers.”


Editors’ notes 

For further information, please contact:

Quintin Keanie

The Agency Partnership (Embark Media Relations)

Email : quintin.keanie@theagencypartnership.com

Tel : 07880 602902


About Embark Group

Embark Group is a full-scale UK retirement solutions provider, active in the areas of Investment Platform, SIPP, SSAS, Multi-Asset Funds, Fund Research and Employee Benefits Consulting. The Group trades under the brands Embark, Rowanmoor, Vested and The Adviser Centre. It also operates a wide portfolio of white label services for business such as RBS Coutts, Standard Life, Nutmeg, BestInvest, Charles Stanley, Moneyfarm and Wealthsimple. Businesses within the Embark Group have been established in the market for more than 40 years and have a long history of working closely with intermediary distribution partners and consumers of all levels of affluence.

The Group has more than £38bn in assets under administration on behalf of c415,000 consumer clients, operating across eight UK locations (London, Bolton, Dundee, Edinburgh, Leeds, Leicester, Salisbury, and Swindon). Embark has been recognised as one of the most innovative Wealth Tech companies in 2019 and 2020.

www.embarkgroup.co.uk

About The Openwork Partnership

The Openwork Partnership is one of the UK’s largest financial services networks with the group having over 4,200 financial advisers operating across the UK. It operates as a directly authorised, multi-panel distribution network.

  • The Openwork Partnership operates panels for pensions, annuities, and protection (life assurance, critical illness, General Insurance). Omnis Investments, the investment arm of the group, offers a range of investment funds, managed by some of the best fund managers in the market, as well as a managed portfolio service.
  • In the mortgage sector The Openwork Partnership operates a panel of over 50 lenders for mortgages and is among the top three networks for almost all the major mortgage providers.
  • The Openwork Group is majority-owned by the Openwork Partnership LLP with its employees holding a minority stake.

Further information on The Openwork Partnership can be found at www.theopenworkpartnership.com

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