IFAs using network support provider Paradigm Financial Advisers face delays of up to two weeks for their cases to be checked and approved because of "unexpected" demand for the service.
Unlike some other networks, Paradigm pre-approves every piece of advice given by its member advisers. It promises to do this within 24 hours. However, Paradigm director Anthony Morrow said "an upgrading of procedures" as well as "a greater than expected level of activity by Paradigm advisers" in September has caused delays. Some advisers said they have been waiting for two weeks for approval of files in order to recommend products. Others say they have had poor communication from Paradigm on the issue and regret engaging with the firm. Morrow said the backlog is expected to be c...
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