Compliance
Openwork Develops Marketing Support For Advisors As RDR Looms

Openwork, the UK financial advisor network, is to strengthen the marketing support it provides for its members as part of an ongoing programme to help its advisors grow their businesses following the implementation of the Financial Services Authority’s Retail Distribution Review at the end of December.
The move will see Openwork offering platform training and personalised support with the launch of a protection mailer campaign, aimed at assisting its members when advising clients of the potential price changes which will come into effect post-RDR. The marketing campaigns which Openwork advisors can order will include an approved leaflet and client letter.
The service will also expand through the means of Smart Hub - Openwork’s online marketing support system - launching new marketing newsletters, which aim to support advisors when discussing particular areas of advice with new and existing clients. The literature, which is available now, covers mortgages, pensions, investments, protection and general insurance; future editions will be available on a quarterly basis.
As well as newsletters, Openwork has developed new protection, RDR and asset table leaflets to help advisors explain any changes or developments. As with most of the literature available through Smart Hub, the leaflets can be “white-labelled” by advisors using their own branding and distribution selection.
“Helping advisors keep their clients up to speed with new developments is a key part of our support programme as we move towards the RDR and tackle other regulatory changes,” said Philip Martin, Openwork’s proposition and marketing director.
“In conjunction with Smart Hub’s existing tools, the launch of these new resources will provide advisors with a range of marketing materials to help them straightforwardly and effectively service and educate their clients across a host of areas.”
Earlier this year, Openwork announced plans to reduce its charges on investment and pension business by 25 per cent, with plans to take effect in January 2013, in support of the RDR roll-out.
The Openwork Group, which has some 2,000 advisors on its roster, is owned - via ordinary shares – by its advisors, its employees and the Swiss giant, Zurich financial services group.