Fee-based adviser Paradigm Norton is launching an hourly-charged financial planning service for people who are in the process of building wealth but have yet to accumulate any real assets.
The Bristol-based business currently caters for two types of clients: those with investable assets of at least £1m and those with anything between £250,000 and £1m, but it hopes to take advantage of a perceived gap in the market. Chief executive Barry Horner says the move is a "big departure" for the business, which historically lists lawyers and bankers among its higher-net-worth clients. He says a typical client for the new service, which it internally calls ‘wealth builder', may be a couple with a combined income of about £120,000 who need guidance on pensions and a mortgage. Th...
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