Openwork and Newcastle Building Society's financial advice arm have extended their relationship for a further five years.
Newcastle Financial Advisers, which offers a wide-ranging financial planning service, has been the network’s largest investment enterprise since Openwork was formed in 2005.
Mark Duckworth, chief executive of Openwork, said: "Newcastle Financial Advisers has been with Openwork from the very beginning and has been incredibly successful at transitioning to a fee based model.
"We are extremely pleased the team has endorsed Openwork’s position and strategy by extending its relationship with us for a further five years."
Newcastle Financial Advisers first joined the network, then called Zurich Advice Network, in 2003 and currently employs 26 pension and investment advisers.
Andrew Haigh, chief executive of Newcastle Building Society, said: "Openwork is one of the largest restricted networks in the UK and has, in our view, a compelling and progressive proposition.
"We have very ambitious plans for the future and believe that Openwork is well placed to support Newcastle Financial Advisers’ evolving requirements in the years ahead, as we maintain our valued high street presence and seek to improve the accessibility of financial advice across our north east region."
damian.fantato@ft.com
