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Keith Carby’s Caerus to buy Paradigm network

Keith Carby Caerus

Keith Carby’s Caerus Capital Group is acquiring Paradigm Partner’s network arm Paradigm Financial Advisers.

The deal will see Caerus Capital Group take over the network’s 370 advisers across 110 firms, subject to FSA approval. Caerus Capital Group has around 185 advisers all of which are currently appointed representatives of PFA. Caerus will also take on PFA’s 35 support staff.

PFA managing director Stuart Cresswell will remain in his role.

Caerus will retain the Paradigm name for six months before rebranding. The new name has not yet been finalised.

PFA’s independent advisers will operate alongside Caerus’ restricted advisers within the network.

Staff were informed of the deal today.

Paradigm says it now intends to focus on its directly authorised propositions which include Paradigm Pensions, Paradigm Mortgages, corporate wrap Amber and recently-launched investment management firm Tatton.

Paradigm founder Paul Hogarth says: “Over the last six months it has become clear to the team and I that the network would be better served by a business whose future is more closely aligned with this area of the market.”

Carby (pictured) says: “When we struck an agreement with PFA in 2010, we made it clear we would be seeking regulatory permissions after three years. Paradigm’s strategic decision gives us the opportunity to make this move a few months earlier than planned.”

PFA posted a £336,000 pre-tax profit for the year ending 31 March 2011, compared to a pre-tax loss of £29,000 the previous year.

Caerus’ accounts for the year ending 31 December 2011 show the firm made a pre-tax profit of £1.2m compared to a £1.4m loss the previous year.

Adviser numbers increased 41 per cent to 185 from 142 in 2010 .

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Direct authorisation? – it’s definitely the way forward. Paradigm clearly has little time for its network members – so little, in fact, that it emailed this news to the directly authorised firms FIRST! How disrespectful. Goodbye and good riddance – my firm will be applying for direct authorisation within the week.

  2. I’m sure this was a tough decision for Paradigm. I, myself have had the best support for my business from Paradigm, from all areas of the business and received a personal phone call this morning before the news was announced. I am sure this will only lead to bigger and better things for the network…whatever it may be called.

  3. I HAVE A EASY WORK FROM HOME OPP. THAT YOU DONT WANNA PASS UP GET PAID WEEKLY AND IT IS EASY MONEY GO HERE>>>>>> http://www.realmoneyeasy.com

  4. I would like to say that PFA’s support and standard of quality care of business has been second to none, the move to Caerus is the right thing as Paul Hogarths business interest is eleswhere. With RDR looming we need to feel confident that we continue to have the best support available Caerus will provide this as they have the ambition, drive and commitment to support their advisers. Those that decide to go DA in this climate will feel the wrath of Compliance very demanding and expensive…so good luck fist comment you really have shot yourself in the foot there mate!!!

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