Paragem Dealer Services has experienced a growing demand for risk management, compliance support and practice management systems from independent financial advisers.

The dealer group services firm signed an agreement with Affinity Wealth Services to implement Paragem's customised practice management system, Model Office, to improve the back-office efficiency of its expanding planning practice.

"The growing list of clients now using Model Office reflects growing demand from planners to streamline their businesses with simple and effective practice management tools," Paragem managing director Ian Knox said.

Affinity is a former Hillross practice, which obtained its own Australian financial services licence with Paragem earlier this year and now has $250 million in funds under advice on behalf of 300 clients.

"We wanted to make sure our strong advice and investment service offering was supported by reliable operational systems and it was important that those systems enabled us to focus on the part of the business that is most important: providing advice and managing risk for clients," Affinity managing partner Keith Jones said.

Paragem also signed up Melbourne-based firm Carnbrea and Co to provide the firm's wealth management arm with risk management and compliance services.
 
"Having previously used Paragem for our licence review, they were the natural choice to meet our broader compliance requirements," Carnbrea chief executive Robert Lyon said.

"We're looking forward to growing our business with the support of Paragem and the experience it brings dealing with complex and compliant advice models."