Paradigm Mortgage Services to hold its first online workshop to support those considering going Directly Authorised (DA) by the FCA.
This will be the third year that Paradigm has organised events dedicated to helping firms either move from appointed representative (AR) to DA status or supporting individuals new to the industry – or within advisory practices – who wish to go on their own and set up their own DA firms.
The ‘Going Directly Authorised’ online workshop will take place on Tuesday 2 March from 10.30am until midday.
The workshop includes a range of presentations from senior Paradigm staff, including those directly involved in supporting firms through the process, providing insight into what is involved, the requirements and costs to secure DA status, the regulator’s expectations, and the support that can be provided with the FCA Application.
Presentations will be given by Paradigm mortgage technical director, Christine Newell; head of protection, Mike Allison; consultant (technical helpdesk), Julie Rowe and head of consultancy, Graeme Stewart.
- Each session is designed to help attendees achieve the following learning objectives:
- Increase their understanding of what to expect on becoming DA.
- Improve understanding of what to consider when deciding whether it is the right time/move.
- Outline the initial and ongoing costs involved in going DA.
- The pros and cons of leaving a network, including a cost-analysis.
- Understand the support that Paradigm can offer throughout the process.
Attendees will also hear from Jo Nelson of JPN Mortgage Solutions on her recent experience of using Paradigm to become DA.
Attendance at the online workshop will be completely confidential and no third-party lenders, providers, networks or support service firms will be there.
Bob Hunt, chief executive of Paradigm Mortgage Services, said: “We’re delighted to be hosting another event focused on helping firms go DA, and by moving this online we hope that more individuals considering this move will be able to benefit from the expertise that our team can offer on this subject. In addition, we will be able to maintain complete confidentiality which we know is very important for those attending.
“We’re aware that for some firms the move to DA can seem daunting so we wanted to use these workshops to outline the process, what firms can expect, and perhaps most importantly, the support that is available to reach a successful conclusion with the regulator.
“Also, the FCA is currently consulting on its regulatory fees and levies for 2021-22, and the likelihood is those costs will increase in the future; it may therefore be good timing to consider options now before potential future cost increases.
“We understand that going DA is not for everyone, and as with everything in business, timing is key. The workshop is primarily about de-mystifying the process, whether you’re an adviser wanting to go on your own, or a firm wanting to move from AR to DA status, these sessions provide practical information and a way to help them move confidently and smoothly through the process.
“It also gives attendees the opportunity to secure answers to all the questions they might have about moving to DA, and we’ll be opening up the session at the end to allow individuals to ask their questions to Julie Rowe and Christine Newell, who have extensive experience of supporting firms and individuals in this position. We will also be offering all attendees a one-to-one phone or video call following the event, allowing them a chance to secure more detailed information if needed.
“We’re looking forward to holding this event and would encourage any individuals or firms interested in looking at their options in the DA space to register as soon as possible.”