This is the third year the mortgage services proposition has organised events dedicated to helping firms either move from appointed representative (AR) to DA status or supporting individuals new to the industry – or within advisory practices – who wish to go on their own and set up their own DA firms.

This year, for the first time, the event will be held online, which Paradigm said would make it more accessible to a wider audience.

The ‘Going Directly Authorised’ online workshop will take place on Tuesday 2 March from 10.30am until midday.

It will include a range of presentations from senior Paradigm staff, including those directly involved in supporting firms through the process, providing insight into what is involved, the requirements and costs to secure DA status, the regulator’s expectations, and the support that can be provided with the FCA Application.

Bob Hunt, chief executive of Paradigm Mortgage Services, said: “We’re aware that for some firms the move to DA can seem daunting so we wanted to use these workshops to outline the process, what firms can expect, and perhaps most importantly, the support that is available to reach a successful conclusion with the regulator.

“Also, the FCA is currently consulting on its regulatory fees and levies for 2021 to 2022, and the likelihood is those costs will increase in the future; it may therefore be good timing to consider options now before potential future cost increases.

“We understand that going DA is not for everyone, and as with everything in business, timing is key.

“The workshop is primarily about de-mystifying the process, whether you’re an adviser wanting to go on your own, or a firm wanting to move from AR to DA status, these sessions provide practical information and a way to help them move confidently and smoothly through the process.

Each session is designed to help attendees achieve the following learning objectives:

• Increase their understanding of what to expect on becoming DA
• Improve understanding of what to consider when deciding whether it is the right time/move
• Outline the initial and ongoing costs involved in going DA
• The pros and cons of leaving a network, including a cost-analysis
• Understand the support that Paradigm can offer throughout the process
• Attendees will also hear from Jo Nelson of JPN Mortgage Solutions on her recent experience of using Paradigm to become DA.

Attendance at the online workshop will be completely confidential and no third-party lenders, providers, networks or support service firms will be there. Those wishing to attend the online workshop can register here.