View more on these topics

Paradigm profits drop 25 per cent ahead of Caerus deal

Profits at Paradigm Partners fell by 25 per cent in the run-up to the sale of adviser network Paradigm Financial Advisers to Caerus.

The firm’s results for the year to the end of April 2013, published on Companies House this week, show profits dropped from £2m to £1.5m.

Turnover increased by 11 per cent from £7.7m to £8.6m while administrative expenses rose by 23 per cent from £5.68m to £7m.

Paradigm Financial Advisers made a £1.17m loss in its last financial year before being sold to Caerus in October. As part of the deal, Paradigm wrote off £600,000 in impaired debt.

The firm set aside £496,000 for liabilities at the beginning of the financial year and paid out £213,000. Of this, £184,000 related to a review of Paradigm Financial Advisers’ sales processes.

Paradigm says the amounts were covered by professional indemnity insurance and policy excesses.

A further £130,000 was set aside as at 30 April 2013.


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