Openwork has renewed a tie-up with Newcastle Financial Advisers for a further five years.

Openwork, then called Zurich Advice Network, joined with Newcastle Financial Advisers, a subsidiary of Newcastle Building Society, in 2003.

It then extended the contract in 2013.

Newcastle Financial Advisers currently has 26 advisers. According to Openwork, it has been the network’s largest investment enterprise since Openwork was formed in 2005.

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Openwork chief executive Mark Duckworth says: “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 Building Society chief executive, Andrew Haigh says: “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.”