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Paradigm set to make Honister bid

Paradigm Partners founder Paul Hogarth is preparing to launch a bid for Honister Capital, Money Marketing understands.

It could see Paradigm take control of Honister Partners, Burns Anderson and Sage Financial Services, which have a total of 1,600 advisers between them, and direct-to-consumer business Willis Owen. Paradigm has around 370 advisers.

Honister and Paradigm refuse to confirm the talks.

A Honister spokesman says: “During the run-up to the RDR, it is not surprising that rumour and speculation regarding merger and acquisition activity is increasing. We are focusing on our strategy, not market rumour.”

In the six months to March 31, 2011, Honister’s advisory businesses lost £700,000 while Willis Owen made a £1.18m profit.

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