By becoming a member of Paradigm, Cockburn Lucas will now receive a range of services including assistance with risk management, compliance and business support. With CLIFC becoming the 200th Paradigm Partner member firm the total number of members across the Group, which includes those members of Paradigm Mortgage Services, has grown to reach 473 firms in less than two years.
CLIFC’s appointment of Paradigm has come following a major review of its risk management procedures during 2008, having previously utilised the services of Bankhall for the past 10 years. After a further review, encompassing a number of organisations, CLIFC chose Paradigm as its new compliance support provider with immediate effect.
CLIFC was established in 1997 and has grown its assets under management to over £70 million, with approximately £100 million under influence. The company specialises in private client advisory services and the trustee investment market.
Paul Hogarth, Chief Executive of Paradigm Partners LLP, commented: “Paradigm is delighted to have been appointed by CLIFC as its new provider of compliance and business support services. Firms such as Cockburn Lucas do not partner with organisations lightly and it has conducted a thorough review of its own business and a significant number of other organisations which tendered their services. To have been chosen by CLIFC following this process shows the overall strength of our proposition and the significant opportunities and benefits we can provide to our growing membership. It is also testament to the quality of the Paradigm team and particularly the experience and insight they offer to member firms in delivering our services. We are already fully engaged with the Cockburn Lucas business and look forward to a long and profitable relationship over the months and years ahead.”
Mike Horseman, Managing Director of CLIFC, said: “The market events of 2008 and the more recent issues surrounding risk reinforce the need for both expert due diligence and robust management procedures. Cockburn Lucas were extremely impressed with the level of professionalism shown by the organisations selected to tender their services and have been pleased to be associated with Bankhall for the last 10 years. However, as the retail market for financial advice continues to develop and evolve at a startling pace we felt that the service offered by Paradigm was second to none, coupled together with their commitment and knowledge of the sector. Given that 2009 celebrates the 200th anniversary of Darwin’s birth, it’s poignant that we’ve become the 200th member of Paradigm, who we believe to be one of the fastest evolving business support service providers in the market today.”
