Paradigm is to launch its corporate wrap next week as a standalone business which is likely to be branded Amber, as revealed in this week’s Money Marketing.
The SEI-powered platform will be made available to the wider adviser market and will include a group personal pension alongside a workplace Isa and general cash account.
The wrap will be compatible with Paradigm Pensions director Steve Bee’s auto-enrolment and flexible benefits compliance product Jargon Free Benefits, which launched last September. JFB provides information on the number of employees who are eligible and ineligible for auto-enrolment. Companies can register their information with The Pensions Regulator and run payroll and compliance reports.
Paradigm’s new proposition will work alongside current Paradigm agreements with Nucleus and Axa Wealth. It will come under the group umbrella which currently includes Paradigm Partners, Paradigm Pensions and Paradigm Mortgages.
In September, Money Marketing revealed Paradigm was to become a shareholder in Nucleus and at the same time announced it was adopting Axa Elevate as a strategic partner platform.
Pilot Financial Planning director Ian Thomas says: “The corporate wrap area is a really big opportunity for advisers who are looking to get involved with group schemes and, as a result, service people who cannot otherwise access IFAs after the RDR.”