Paradigm Group has revealed two accounting firms have been shortlisted for its licensing offer for accounting practices seeking an outsourced Australian financial services licence facility.
The Accounting Licensing Model is a bespoke offering that has strict selection criteria for accounting groups that are a cultural and operational fit with Paradigm’s professional business model.
Paradigm managing director Patrick Nalty said he was confident the two firms would adopt the outsourced option in the very near future.
“Their strength is the quality of financial advice that addresses client business and financial expectations and including superannuation and SMSFs, investment and wealth creation/protection strategies,” Nalty said.
He revealed both firms were committed to having the outsourced advice provision and process incorporated and bedded down seamlessly into their operational infrastructures long before the 1 July 2016 deadline.
“Paradigm’s offer reflects both the opportunities and challenges that accounting firms face in providing financial advice,” he said.
“The group expects its end-to-end outsource solution to provide a steady stream of inquiries and interest as the 1 July deadline rapidly approaches.”
He emphasised the offer was not a general or off-the-shelf solution for the accounting industry, but that it would only be attractive and applicable to specialist accounting practices with proven structures seeking a flexible and professional licensing solution.
Since commencing its operations in 2003, Paradigm’s growth and reputation had been built on a platform of independence and an operational framework that employed specialists to run each of its separate divisions of strategic advice, investments via managed discretionary accounts, SMSF administration and advice, and personal and business insurance, he said.
He said the early success of and interest in Paradigm’s accounting offer was attributable to those factors.