New PI support service for dealer groups
Paragem Partners has launched a new Professional Indemnity (PI) support service as an extension to its compliance and audit offering.
The new PI service is intended to assist dealer groups comply with new legislation requiring them to have adequate compensation in place, according to managing director Ian Knox.
As such, he described the service as a “perfect extension to the compliance and audit work” that Paragem provides to its customer base of over 150 dealers.
“We feel premiums can be contained and that underwriters will be able to assess risk better if there is a compliance accreditation that the business has been assessed by an independent expert.”
Paragem, which also helps to process new licence applications, also intends to provide the new PI services to all new licences issued from 2008.
Recommended for you
ASIC has banned a Melbourne-based financial adviser for eight years over false and misleading statements regarding clients’ superannuation investments.
CFS has formed a strategic partnership with the University of Sydney to support the responsible development of AI solutions in the wealth management sector.
Increasing traction among high-net-worth advisers and a stabilisation in adviser exits have helped Praemium report quarterly net inflows of $667 million in the third quarter of 2025.
ETF provider VanEck has announced its intention to launch a uranium and energy solution as global political agendas point to expansion in this sector.
