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Paradigm to offer bespoke AFSL services to accountants

Melbourne-based Paradigm Group has developed an offer for accounting practices that are seeking to outsource an Australian financial services licence.

According to Paradigm co-founder and managing director Patrick Nalty, the service – which will be marketed as the Paradigm Accounting Licensing Model – has been structured as a bespoke offering to accounting practices that are a cultural and operational fit to the company's business model.

"Paradigm's offer reflects both the opportunities and challenges that accounting firms face in providing financial advice and the group expects its end-to-end outsource solution to provide a steady stream of enquiries and interest as the July 2016 deadline rapidly approaches," Mr Nalty said.

Mr Nalty added that two substantial accounting groups have currently expressed interest in using Paradigm's bespoke licensing service.

These accounting firms are sizeable, long-established, hold multiple partnerships, have client-centric frameworks and utilise modern processes to deliver holistic advice that goes beyond taxation and compliance, Mr Nalty said.

"Their strength is the quality of financial advice that addresses client business and financial expectations and includes superannuation/SMSF, investment and wealth creation/protection strategies," he said.

In 2014 Paradigm announced it had acquired Melbourne-based self-licensed firm Portfolio Managers.