Paradigm raises fees per adviser by 30%

clock

IFA network Paradigm Financial Advisers has increased fees for some members by 30%.

Existing advisers' fees have increased from £500 per registered individual per month to £650. Advisers within the group's Mortgage and Protection proposition have also seen fees increase, to £450 per adviser per month. In a communication with its adviser customers, Paradigm said the "increasing cost of regulation and PII (professional indemnity insurance) means it is necessary for us to review our pricing model". Non Paradigm wrap users have also now been asked to cover the £60 monthly licence cost of planning tool Morningstar Adviser Workstation. The changes came into effect fr...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

AI adoption not a 'must' for advice industry but it can leverage services

AI adoption not a 'must' for advice industry but it can leverage services

‘You are not struggling for clients, so it is a great place to be.’

Isabel Baxter
clock 01 May 2024 • 1 min read
Long-term financial planning proving increasingly difficult

Long-term financial planning proving increasingly difficult

Cash ISAs were the preferred vehicle for those planning over the long-term

Sahar Nazir
clock 01 May 2024 • 1 min read
Financial Conduct Authority's regulation 'lacks coherent vision'

Financial Conduct Authority's regulation 'lacks coherent vision'

‘It does feel like the wind has been in our faces over the past few months’

Isabel Baxter
clock 01 May 2024 • 2 min read