View more on these topics

Paradigm double platform deal

Paradigm is to become a shareholder in IFA-owned wrap Nucleus and at the same time is adopting Axa Elevate as a strategic partner platform.

National IFA Paradigm has extended its deal to whitelabel Nucleus to power its platform by five years but says it will also use Elevate. A letter sent last week by Nucleus IFA Advisory Board chairman John Moore to Nucleus shareholders says: “The arrangement will result in Paradigm and the Paradigm partner IFAs becoming shareholders in Nucleus IFA Company. Furthermore, they have negotiated a commission-sharing deal with Axa Elevate for those IFAs wedded to using a major life company platform.”

Chief executive Paul Hogarth announced the Axa deal at the Paradigm Partners conference in Marbella last week. He says: “This is a significant partnership and has been introduced in response to demand from members for another provider.”

Nucleus chief executive David Ferguson says: “Paul Hogarth and his team have been friends of Nucleus since our early days and we share a very positive vision.”
Axa Wealth UK Distributors managing director David Thompson says: “The partnership with Paradigm is a significant development in the evolution of the Axa Wealth business.”

Paradigm recently announced SEI is to power its corporate platform, to go live in December.

Mitchell Moneypenny managing director Nicola Mitchell says: “The move is a testament to the strength Nucleus has built over the last two years.”



Time taken for FSA to approve firms’ expansion plans continues to rise

Law firm Reynolds Porter Chamberlain has attacked the FSA’s “laborious” and “intrusive” approach to the authorisation of financial services firms’ expansion plans after the average regulatory approval period increased to 97 days. The figure, which covers the 12 months to June 30, 2011, represents a 10 per cent increase on the previous year’s average of […]


Average annual adviser revenue reaches £165k

Research by Owen James shows that the average median revenue per adviser is £165,136 a year in the UK. The firm’s latest adviser distributor performance benchmark report surveyed 100 advice firms, with 50 having turnover under £1m, 33 with turnover between £1m and £5m and 17 with turnover of over £5m. The results show advisers […]

Skandia UK to axe 86 jobs

Skandia UK is cutting 86 jobs from its operations team, which serves the firm’s platform and life arms. The team has just over 900 people and is responsible for processing new business valuations and other administration duties. The jobs are all based in the Southampton office, where Skandia has a total of 1,600 staff. A […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm