IFA group Paradigm is set to launch an asset management business housing its own fund range, offering discretionary fund management (DFM) services, and model portfolios.
The new business will incorporate Paradigm’s existing fund range Prism Capital Management, which houses three multi-asset funds run by Octopus Investments.
Paradigm will tie up with third party fund managers to launch a series single and multi-manager funds across a range of sectors.
The firm is currently looking to recruit an investment team to oversee the third party fund groups’ mandates.
Anthony Morrow (pictured), partner at Paradigm Partners, said he had high hopes for the new business.
‘The new investment business we are launching has the potential to become a significant player in the provision of investment services to UK private investors,’ he said. ‘Over the coming months we will be investing heavily in the business, combining market-leading systems and technology with a top-class team of individuals with the drive and determination to make this proposition the obvious and best home for advisers and their clients.’