With a vision of being the champion of the professional financial adviser, Paragem enables advisers to stand out from the crowd. Paragem is effectively the ultimate extension of the shared services model, providing an AFSL that we selectively make available to successful practices striving for excellence in advice.
Paragem has a specific goal to re-arrange the value chain such that advice becomes the largest component and product a secondary and smaller component. This includes suppressing platform, portfolio management and all asset management related fees in favour of increasing fees for advice. In our world, the commoditised elements are products and the tangible value is the person, trust and integrity of advice.
Paragem advisers are free to run their own business, promote their own brand, assert their professionalism and provide high quality advice. By being product agnostic Paragem has a clear statement of intent for consumers and we believe that the model is intrinsically linked to consumer needs and ASIC’s policy on industry best practice.
Paragem has sufficient scale with multiple suppliers to generate higher procurement benefits than available at individual practice level. Paragem then rebates any licensee rebate/volume bonus received from platforms or product providers back to the advisers and this translates to lower cost for investment.
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