Paradigm Partners has reported an operating profit of £519,000 for the year ending 31 March 2010 - marking the IFA support business's first year of profitability.
The cash positive milestone has been reached in its third year of operations and nine months ahead of its business plan. Paradigm will re-invest its profits into future development and growth.
"All businesses have seminal moments and this set of results, in the context of the broader trading environment and the investments we have made into additional business areas, is certainly one of those for Paradigm," says Paul Hogarth who set up the business in 2007.
Paradigm, which has 320 member firms, has launched a range of businesses over the last two years including IFA network Paradigm Financial Advisers, investment management company Prism Capital Management and pensions business Paradigm Pensions.
Hogarth adds the firm will now concentrate on the next phase of its development.
"All effort and resource will now go into ensuring the business fulfils its considerable ambitions - rising to the many challenges that lie ahead and making the most of the opportunities that present themselves for us and our member firms."
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