Purple Circle Financial Services appoints COO

by Madison Utley06 Aug 2019

A boutique aggregator has appointed a new chief operating officer to carry it into the next phase of the business.

Purple Circle Financial Services (PCFS) has welcomed Frank Paratore into the COO role.

Paratore expressed excitement upon joining PCFS, especially given its “recent progress.”

“The work that has been done over the last two and a half years has set PCFS up to be a significant boutique aggregator in Australia,” he explained.

“The combination of good people, a growing distribution capability and no institutional ownership are vital ingredients to build a successful aggregation business. I hope that with my experience I can help the team of PCFS deliver further success and ultimately great returns for broker shareholders over time.”

PCFS is the first aggregation company in Australia where members can earn shares in the company, through their usual conducting of business.  

Paratore brings 30 years of industry experience, half of them spent at an executive level. He has a Bachelor of Business with a double emphasis in marketing and management, along with a Diploma of Financial Services for finance and mortgage broking.

According to CEO Michael Stephens,  “Frank is an excellent addition to the team.”

“He brings highly relevant industry experience in aggregation and distribution gained from an impressive career as a senior leader with Specialist Finance Group and Ballast Finance,” he said.

“He has a wealth of expertise in business strategy, along with demonstrated achievements in the broker journey experience, governance models and marketing, specifically related to aggregation. As we focus on delivering our growth plans, I am confident we now have the right mix of skills to provide appropriate guidance and oversight to our executive team.”