Openwork it to acquire independent advice firm 2plan Wealth Management as part of its RDR strategy.

Leeds-based 2plan has over 200 advisers and provides a range of wealth management, retirement, investment and financial planning services to private clients and businesses across the country.

Launched in 2007 by founders Chris Smallwood and Chris Davies, 2plan will be run separately from Openwork and will retain its own brand and management team. Whole-of-market advisers joining Openwork will become advisers of 2plan, while existing Openwork advisers will also access the expanded range of investment opportunities offered by 2plan.

Openwork will acquire 100% of the shares of the 2plan Group, including the 15% stake previously owned by Standard Life, subject to FSA approval.

Martin Davis, chief executive of Openwork, said: “Significantly developing our IFA capability is one of the key aims of our strategy to prepare for the RDR so we are extremely pleased to have been able to acquire an IFA firm as professional