Paradigm shifts $70 million from traditional platforms
Paradigm Wealth Management has transitioned $70 million to its Managed Account Service from traditional platforms, enabling it to implement a true fee-for-service approach, said managing director Patrick Nalty.
The new service has widened Paradigm’s clients’ investment opportunities in Australian equities, hybrid securities, managed funds, bonds and term deposits, while enabling the specialist wealth manager to determine its fee structures and use its own branding on all reporting and documentation generated from the service, said Nalty.
Paradigm’s partnership with Investment Administration Services has seen a transition of $70 million to the Managed Account Service from traditional platforms, and an additional $50 million will be migrated by the end of the year.
“The implementation of the service has enabled Paradigm to implement a true fee-for-service approach with full transparency and most importantly, enabled our advisers to focus on sales and client strategic issues rather than spending time on inefficient back-office processes,” said Nalty. “We are already seeing growth opportunities, with increased time for sales and advisers being attracted by our integrated business model, with the Managed Account Service acting as the core component of the solution.”
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