Advice network Openwork has rebranded to The Openwork Partnership.

The firm has set a target of “becoming the UK’s leading advice network” in the process.

The rebrand comes with a new website, including an interactive map to help find the network’s advisers.

Openwork says it now has some 680 firms and more than 4,200 advisers looking after £20bn-plus of clients’ money.

Zurich previously held a 25 per cent stake in Openwork, but in 2018, it sold out of the business.

The network became majority owned by the Openwork Partnership LLP, a body that represents member adviser firms, and Openwork’s own employees were given a minority stake through an employee benefit trust.

The change of name “underlines the existing importance of partnership”, Openwork says in a statement today.

The rebrand is also part of plans that include “further expansion of the network and extending its distribution and range of propositions”.

Openwork launched in-house funds arm Omnis Investments in 2008, which now has more than £7bn under management.

Work started on the brand refresh more than a year ago, Openwork says, with consultations with a wide range of stakeholders both inside and outside of the business.

“Key drivers for the rebrand are the recognition that advice is personal, and that everyone should be treated with empathy and as an individual,” Openwork’s statement says. “The name change emphasises that working together enhances trust and delivers peace of mind, enabling everyone to make a difference.”

Chief executive Philip Howell adds: ” The simple truth is that Openwork is a partnership with a proud heritage and comprised of over 680 professional practices.

“We are bound together by our unique shareholding structure, and by our common goals and values.  As we enter an exciting new chapter intent on becoming the first choice for practices, advisers and clients seeking a truly personal service, it is entirely fitting to present ourselves to the market under The Openwork Partnership banner.”

The network is looking to build under new leadership. Howell, formerly of Rathbones, took over from veteran network boss Mark Duckworth last year when he stepped down after a decade at the helm.

Duckworth now heads up Schroders’ new financial planning arm, Schroders Personal Wealth.