From today Paradigm member firms can introduce their clients to Infinity International who offer exchange rates and international payments without the hidden commission charges that often come with such a service.
Bob Hunt, chief executive of Paradigm Mortgage Services, said: “At Paradigm we continue to look for new partnerships that will provide added benefits and services to our membership base.
“This is certainly the case with Infinity International and its exchange rate and international payment proposition.
“Clients may not be aware of the hidden commission charges that often come with such transactions and therefore there can be considerable money to be saved if advisers refer to Infinity rather than allowing them to go through the big bank route.
“Significant savings can be accessed because of the large volume of currency and payments handled by Infinity – because of this they are able to access the interbank currency market allowing them to trade at a similar price to that of a bank.
“Paradigm has also managed to secure an attractive commission agreement for our members which will be paid on every individual client trade.”
Robert Groves, director of Infinity International, added: “We are very pleased to have signed the deal with Paradigm to enable us to offer our services to its member firms.
“Our company ethos is to provide a low cost, reliable method of transacting in a foreign currency and making international payments.
“Selling one currency to buy another is a relatively simple and cheap process yet many customers are left confused and more importantly overcharged by their own bank.
“Our agreement with Paradigm will allow us to reach these customers and provide a significant saving to them in both time and money.”
There is no charge to the client and Infinity can offer a range of benefits including access to better rates; an account manager to handle all aspects of the transaction; free international transfers and multi-currency account facilities.
The Infinity International service may be of use to a wide variety of potential adviser clients such as:
• Business customers making international payments.
• Private individuals purchasing a second home overseas.
• Those retiring abroad or having to migrate or relocate for work.
• Those purchasing international equities.
• Individuals who need to convert salary payments.
Paradigm member firms will benefit from a referral fee paid on every trade the client carries out on an ongoing monthly basis.
