Paradigm Partners holds back £500k for client redress

The liability has been transferred to PFA's original parent company Paradigm Partners, even though Paradigm Financial Advisers was acquired by Keith Carby's Caerus Capital Group in October 2012. PFA posted provisions of £164,347 for known claims payable, with the £332,003 set aside for unknown claims following Financial Services Authority (FSA) inspections of a sample of case file reviews. The claims will be paid by Paradigm Partners within the next two years. PFA said it continues to work closely with authorities to resolve the matter and compensate affected parties if appropriate...