Melbourne advice boutique Paradigm Wealth Management has acquired a self-licensed former competitor, with an eye to expanding the FUM of its managed discretionary account (MDA) solution.
Mr Nalty said acquisition is an important part of the group’s strategy to drive FUM in its MDA product, while also seeking to maintain a boutique culture. “In order to achieve meaningful scale, we need to continue attracting experienced advisers,” he said.“We’re not a dealer group. We have a compelling salaried adviser model with the resources and infrastructure to properly support advisers and accountants.”
The prudential regulator has released its latest corporate plan.
The bid was originally put forward in June.
ASIC has issued a permanent ban to the former financial adviser.
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