Former Bankhall chief Paul Hogarth is returning to the industry with an IFA support services company called Paradigm Partners next February.
The company, which Hogarth says will not directly compete with firms such as Bankhall, SimplyBiz and threesixty, will focus on investment and mortgage intermediaries.
Former Portfolio Member Services operations manager Leigh Cobb will work with Hogarth as sales manager while her sister Lindy Edwards, who worked at Bankhall as an IT field training manager, will be head of IT and training. Paradigm has also signed an exclusive tie-up with The Exchange.
Details of the proposition are a closely guarded secret and both Cobb and Edwards are unable to comment as they are currently bound by a restrictive covenant with Bankhall.
Hogarth says: “This is both a paradigm shift for me and for the industry as a whole. I would like IFAs to work together with Paradigm to create a new world. We intend to build greater value for the IFA in terms of income and capital and are looking to extract value in each transaction the IFA completes in which he can share.”
Bankhall marketing director Richard Howells says: “All of the members exclusively covered by Leigh will be passed on to David Golder’s account management team. We will not be hiring another field-based person specifically for PMS.”