The partnership will enable Openwork members to access lenders such as Bank of China, GE Money and MBS Lending.

Ian Balfour, chief executive of SMS, said: “The partnership will give Openwork members access to a one-stop facility which will save them time and money. We’re also offering products that are not available direct to brokers and will do the processing on their behalf.”

Paul Shearman, proposition director at Openwork, said: “SMS has built a great reputation over the years as a provider of products and services to the intermediary market and we are sure that their value to our advisers will be amply demonstrated over the coming year.”