Alex Cotton, chief executive of Network Data Limited and David Blackmore, the network’s head of sales and development say they are "delighted to announce the launch of a new venture First Affinity Limited".
In coming to this decision Alex and David said that they " recognised that after months of uncertainty brokers in this position need a secure network, with a broad proposition, scale and financial strength to enable them to have confidence in this difficult market. In addition brokers need to know they will have the ability to resume trading as quickly as possible."
The proposition offers firms the ability to maintain Appointed Representative status, their own identity and trading style, whilst giving them access to excellent commission terms, a wide range of training and development support and reduced costs that many firms would find difficult to achieve independently. It also offers firms the option of a cashflow lifeline to help them through the coming weeks.
Alex and David will be working in partnership with Openwork to provide compliance and development support to the AR's that take up this bespoke offer.
Andy Ferns (Sales and Marketing Director of Openwork) commented 'we are delighted to welcome First Affinity to Openwork. We see this as a great endorsement of our proposition and further recognition that Openwork is a great partner for intermediaries'.