Paradigm is now firmly established as one of the UK’s leading Mortgage Distributors. We have a dedicated, experienced and highly-motivated team who are close to our members and Strategic Partners, delivering a first class, profitable and valuable service.
In our FY 2017/18, Paradigm grew mortgage completion volumes by 43% to £6.89bn (vs 21% in 2016/17). We’ve seen increased revenues due to our growing membership (1,200+ firms), plus working hard to improve the productivity, earnings and profitability of existing members. Our membership terms remain unique; we reward loyalty by providing additional income via a transparent profit share structure (50% share of all overrides), offered monthly/quarterly/annually.
We provided extensive support to intermediaries preparing for GDPR, the IDD and HMO changes via informative bulletins, webpages and blogs. We’ve also enhanced our Mortgage Helpdesk adding an experienced employee guaranteeing excellent service and producing more content e.g. educational videos, criteria sheets and BTL Stress Testing, all designed to assist intermediaries. Promotion of the service has resulted in a 97% increase in usage over 12mths, directly driving increased business. Our panel has continued to expand with 13 new Lenders added in 12mths, allowing firms to access unique criteria via Paradigm. Paradigm Protect’s panel has enabled members to access new Providers Guardian and Canada Life’s Individual products ahead of other distributors.
In 2018 we’ve held more CPD events than ever before, aimed at improving advisers’ market/regulatory knowledge with sessions dedicated to GDPR, IDD and SM&CR, plus 2 Specialist Lending and 3 Later Life Lending events supported by industry experts. We’re hosting our first ‘AR to DA’ workshop based on increasing enquiries for FCA Application support.
Over 400 intermediaries now use our new Paradigm CPD&Sales Academy where advisers can access a wide range of Mortgages/Protection CPD activities (new content added weekly) to participate in, and can also record all activities completed throughout the year.
Understanding and utilising analytics, we improved the effectiveness of website content resulting in Paradigm’s highest ever pageviews/total visits. Our social media presence has grown, e.g. in 12mths @Paradigm_Mtgs’ followers have increased c.14% to 2800+. We remain the only distributor with a dedicated Protection account (1,000+ followers). To support intermediaries in improving their marketing strategies, or get started from scratch, we produced the highly-commended ‘Marketing Summer School’ blog articles covering topics including using analytics, managing marketing content and creating images.
Paradigm consistently champions the DA community, with our CEO frequently contributing to press articles, focusing on finding positive solutions to matters including remuneration, fintech and government policy. Our ‘free’ mortgage and protection compliance package has allowed eligible DA firms to access excellent compliance support, with the aim of maintaining high-quality business levels and raising industry standards.
We strongly encourage firms to embrace technology and have worked closely with fintech firm Dashly, whose tool automatically compares customers’ mortgages daily and alerts them to potential savings/when to consider switching. By linking Dashly to intermediaries we can generate leads, drive clients back to their adviser and create greater efficiencies.