Openwork has more tripled its operating profits to £5.5m in 2014, up from £1.7m in 2013.
Now in its tenth year Openwork has seen three consecutive years with profits, having made losses in the years following its inception in 2005.
Revenue grew by over 5% in 2014, with Openwork taking on hundreds of protection advisers from MetLife, the network now has about 3000 advisers.
Openwork moved into new offices in London and Swindon in 2014, and in June 2015 announced a "radical restructure" of the business.
Mark Duckworth, CEO of Openwork, said: "That we are able to announce a dramatic rise in operating profit for 2014 is testament to both the strength of our enhanced proposition and the hard work our advisers have put in across all areas of financial advice.
"2014 was a milestone year for Openwork in a number of important ways. We strengthened our commitment to closing the protection gap with the acquisition of more than 700 specialist advisers, and saw around £1bn of new assets flow into our investment company Omnis.
"With the enhancements we have made to our proposition, we have a fantastic base from which to grow the business while helping our advisers continue to deliver the highest standards of advice to their customers."
Further Reading:
Business volumes and profits rising for insurers
