Australian investment banking giant Macquarie has taken a near 20% stake in fee-based IFA Paradigm Norton Financial Planning as it continues its bid to extend its UK reach.
The bank, which launched a wrap proposition to the UK market earlier this year, says it has invested in a "progressive" business well placed to thrive in a changing financial advice landscape. Bristol-based Paradigm Norton, which boasts a 27-strong adviser force, says the link-up will ensure the company remains well-capitalised in the build-up to 2012 and enable it to pursue expansion plans by acquiring other financial planning firms. Barry Horner, CEO of Paradigm Norton, says the company intends to acquire three fee-based firms - one small, one medium, one large - by 2014. "In dev...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
