Paragem Dealer Services will change its name to Pathway Licensee Services as part of the integration of the business with its new parent company, netwealth Group (netwealth).
Platform provider netwealth acquired Paragem Dealer Services in November 2011 as part of the group’s plan to further expand its adviser service offering to the independent financial adviser market.
Founders of Paragem Ian Knox and Charlie Haynes will continue as directors of Pathway for business continuity, while Kate Humphries steps in as general manager.
The rebrand, which will become effective from 1 March 2012, will also remove any confusion with the Paragem Wholesale Australian Financial Services Licence (PWA), according to netwealth executive director Matt Heine.
"[PWA] is a separate, privately owned business and has no financial relationship with the netwealth Group," Heine added.
Humphries, who had previously worked with Financial Services Partners, DKN/Lonsdale and Zurich, said the provision of back office services in areas of regulatory support, compliance and risk management would become crucial in the future.
