Paradigm Mortgage Services has partnered with MyGabriel Accounting Solution which provides advisory firms with a system that completes all sections required under the FCA’s Gabriel data requirements.

The cloud-based software system is designed for any firm with investment and/or mortgage permissions that needs to file a Gabriel report. It provides firms with a simplified process to do this, producing a report in less than 15 minutes.

The software also comes with built-in accounting functionality, or if the firm already has this, MyGabriel is updateable with all summary financial information in order to speed up the production and filing of the Gabriel report.

Paradigm member firms who sign up to MyGabriel will receive the system at a discounted rate and the price includes one-to-one training on commencement of using the system, access to unlimited telephone and e-mail support, and a six-monthly pre-Gabriel review to assist in preparation and filing of the report to the FCA.

MyGabriel has been designed for non-MIFID firms such as article three exempt firms as well as mortgage and protection firms.

Bob Hunt (pictured), chief executive of Paradigm Mortgage Services and managing director of Paradigm Consulting, said: “Provision of regulatory-required data to the FCA is a significant responsibility for directly authorised firms and can often take up a considerable amount of time and energy in order to produce the required report.

“This new relationship with MyGabriel offers our member firms access to its fantastic software solution which can, if required, work with their accounting software producing all the necessary information within 15 minutes. We’re pleased to be able to add this to our package of compliance-based offers, with firms also receiving MyGabriel at a discounted rate. It’s important we continue to help our members meet their regulatory reporting responsibilities, at the same time as we are supporting them through this Coronavirus lockdown period.”

Anthony Boggiano, director at MyGabriel, added: “We are pleased and excited about this new partnership with Paradigm and have high hopes for the future. MyGabriel allows Paradigm member firms to streamline their Gabriel filing processes, speeding up the preparation of information and simplifying the submission of returns to the FCA.

“This can free up time to concentrate on client care and revenue generation, while also ensuring compliance matters are being dealt with. We look forward to welcoming Paradigm firms into the ever growing MyGabriel community.”