Financial advice network Openwork has achieved a seventh year of profit growth, with pre-tax profits hitting a new record of £22.6m, enabling the business to pay its first ever dividend to shareholders.

The Financial Ombudsman Service received more than 200 complaints against large financial advisory firms in the first half of the year.

Omnis Investments Limited, Openwork’s £7bn specialist asset management company, is launching nine new funds and the appointment of four new investment managers.

Advice network Openwork is expanding its wealth channel team with two new senior appointments, a move which it says will ‘enhance’ its capabilities and support for advisers.