Due in the second quarter of this year are three model portfolios – Cautious, Balanced and Adventurous – with underlying funds from Schroders, Jupiter and The Boston Company (part of BNY Mellon).
Asset allocation will be carried out by Omnis, a joint-venture with Octopus Investments.
A new range of fund of passive funds will also have the same risk ratings and complement the existing Omnis proposition, which includes a number of multi-manager funds managed by Octopus and three single-strategy funds managed by Threadneedle.
Philip Martin, proposition and marketing director at Openwork said: “The Omnis proposition has been built on Openwork’s ability to use its scale to deliver appropriate solutions at cheaper cost than equivalent market offers.
“Expanding our asset manufacturing capability further will enable our advisers to access best-of-breed outsourcing solutions, both in the UK and abroad, at very favourable terms that fully reflect our scale and significant asset flows.”
