Mr Buchanan is a technology and operations executive who has driven significant transformation across all areas of financial services, says Openwork.

He was most recently group chief information officer at Barclays and chief operating officer for Barclaycard. During a career spanning 30 years, he has held executive roles at Société Générale, Alliance & Leicester and Nomura.

Andy Smart is a senior governance professional with significant experience in corporate governance, risk management, regulatory compliance and law.

He spent much of his 30 year career at Zurich Insurance where he was latterly head of governance, Global Life. He began his financial services career at Allied Dunbar and also worked at Zurich Advice Network – the two companies who were precursors to Openwork.

Mark Duckworth, chief executive of Openwork, said: “We are thrilled to welcome Ian and Andy to the board. Both bring specialist knowledge to the table. Ian’s insight will be invaluable as we transform our operating systems, and Andy’s expertise will be hugely beneficial as we ensure that the financial needs and requirements of Openwork’s end customers are properly met.”

Openwork operates as a directly authorised, multi-panel distribution network but also has a whole-of-market IFA operation called Openwork Market Solutions.

The Openwork Group is owned - via ordinary shares - by its advisers with a 67.5 per cent share, 7.5 per cent by its employees and 25 per cent by Zurich Financial Services Group.