Openwork launches IFDL-powered wrap

Openwork has announced it will launch its own wrap platform powered by Investment Funds Direct Limited (IFDL).

The new wrap will sit alongside Zurich's retail savings platform, which is being made available to its single-tie, multi-tie and whole of market businesses at the end of the year.

Openwork's new platform proposition, a core part of the restricted network's RDR-readiness programme, will be trialled by 15 advisers before rollout in 2012.

As part of the new wrap offering, the network has also secured an exclusive arrangement with Veracity to support its advisers in their analysis of legacy business.

"Developing partnerships with IFDL and Veracity is a transformational move that offers our advisers a host of key benefits while helping them transition their businesses to fee-charging models," said Openwork proposition and marketing director Philip Martin. 

IFDL managing director Hugo Thorman said: "RDR changes the distribution landscape enormously and IFDL will continue to evolve and deliver to its partners in meeting that challenge."