Openwork provides financial support for advisers

Openwork is to offer support for advisers seeking financial assistance through and beyond the RDR with the launch of a cash flow finance initiative.

The initiative is brokered by Fiducia Commercial Solutions and will provide advisers with access a range of lending options including unsecured loans, commercial mortgages, secured loans and overdrafts.

To help advisers manage their cash flow through the transition to fees Openwork will, for an extended period, pay the broker fee for all available lending options.

In addition to pre- and post-RDR cash flow support, the initiative will also enable advisers to access funding for consolidation, growth, acquisition, recruitment and retention and working capital, Openwork says.

Philip Martin, proposition and marketing director at Openwork, said: “The transition to fees will inevitably put firms’ cash flow under strain and our initiative with Fiducia will enable advisers to access the funding that is right for their business at no cost in terms of broker fee.