Paradigm Group is to launch a new investment management business.

The financial services business founded by Paul Hogarth is planning to launch the new proposition later this year following FSA approval.

The firm is looking to build on the investment capability the group already provides member-firms through its relationships with SEI, Nucleus and its existing asset management business Prism Capital Management.

The business will provide a range of investment management services and solutions at fund, model-portfolio and discretionary portfolio management level for both whole of market and restricted advisers from 2013.

It will also be recruiting a team of investment professionals to oversee the external management arrangements.

“The new investment business we are launching has the potential to become a significant player in the provision of investment services to UK private investors,” claimed Anthony Morrow from Paradigm.

“Over the coming months we will be investing heavily in the business, combining market-leading systems and technology with a top-class team of individuals with the drive and determination to make this proposition the obvious and best home for advisers and their clients.

“Feedback from member firms, and the wider adviser community, told us early on that there was genuine desire for an independently owned and managed investment proposition. By working closely with our adviser community I believe we have put in place the building blocks for a market leading investment proposition uniquely aligned to meet the needs of the modern adviser and their clients.”