Macquarie secures 20% stake in HNW adviser

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...