What happened: Netwealth and Paradino
On 15 September 2026, Netwealth Group Limited (ASX: NWL) told the market it had agreed terms to acquire 100 per cent of Scale Up Platform Solutions Pty Ltd, which trades as Paradino. The facts below are from Netwealth's ASX release.
| Detail | What the ASX release says |
|---|---|
| Announced | 15 September 2026 |
| Upfront price | $20 million: $15 million in cash and $5 million in Netwealth shares |
| Further payments | Up to $9 million in earn-out and retention payments over four years, subject to agreed outcomes and milestones |
| Further investment | Netwealth will invest a further $10 million in Paradino over the next two years to speed up its product roadmap |
| Paradino today | More than 500 financial advisers supported and annual recurring revenue of $1.6 million |
| Completion | Expected by the end of October 2026, subject to customary conditions precedent |
| Netwealth's stated plan | To integrate Paradino's technology progressively into the broader Netwealth ecosystem, and over time combine it with data from its Unify platform |
Current status: announced, with no completion notice yet. We checked Netwealth's ASX announcements on 6 October 2026 and found none. On the same day, Paradino's home page and pricing page did not mention Netwealth.
What the announcement does not say
The release does not say whether Paradino's pricing, plans or integrations will change, or how it will be offered to advisers who do not use Netwealth's platform. We are not going to guess. If you are a Paradino customer, or about to become one, these are fair questions to put to them:
- Will the product stay available on the same terms to advisers who do not use Netwealth?
- Will my current plan and price continue after completion, and for how long?
- Will the existing integrations, such as intelliflo office and Worksorted, be maintained?
- Does anything change about where my client data is hosted, who can access it, or which entity is the service provider under the contract?
- Can I export my file notes, templates and client data if I decide to leave?
What Paradino does, so you know what you are replacing
An alternative only makes sense against the parts of Paradino you use. Paradino's site describes an advice automation platform: it records the meeting live or takes an upload, writes the file note, keeps a client workspace, drafts Records of Advice (RoAs) and Statements of Advice (SoAs) from the meeting and your templates, and tracks workflow and tasks. It lists connections with intelliflo office, RetireMap, Microsoft 365, Worksorted, ProductRex and NEOS. Xplan was not on the list when we checked. It says data is hosted in Australia, that it is SOC 2 Type 2 compliant, and that video and audio recordings are deleted after 30 days.
Its pricing page lists Starter at A$149 a month, Pro at A$239 and ProMax at A$349 per adviser, excluding GST, with lower rates billed annually and Enterprise pricing on request. RoAs sit on Pro. SoAs sit on ProMax.
So there are two different searches hiding in "Paradino alternative". If you use the RoA and SoA drafting, you need another advice document platform. If you only use the file notes, you have more choices and most of them cost less than ProMax.
See what a finished file note looks like.
Pick your line of work and we'll send a sample note written from a mocked call. No account, no card, and nothing from your own client files.
One sample note, plus the occasional CallNote update. Unsubscribe any time by replying. We never ask for your call recordings or client files.
The alternatives side by side
Prices are per adviser per month in Australian dollars as published on each vendor's site on 6 October 2026. Paradino, Claras, Marloo and Filenote.ai quote excluding GST.
| Tool | How it captures the meeting | Beyond file notes | Where notes go | Data location | Published price |
|---|---|---|---|---|---|
| Paradino | Records live in its app, or you upload a recording or transcript | RoAs (Pro), SoAs and advice presentations (ProMax), workflow and tasks | intelliflo office, Worksorted, RetireMap, Microsoft 365, ProductRex, NEOS | Australia | A$149, A$239 or A$349 |
| Claras | Records in its app, or you upload a recording from Teams, Zoom or your phone | File notes are the focus | Word and Xplan export on every plan. Its site also lists Salesforce and Microsoft 365 | Australia | A$50 for 4 notes, or A$139 unlimited |
| Marloo | Joins Teams, Zoom and Google Meet meetings as a participant. Web or mobile app for in-person meetings | Ask Marloo assistant, tasks, form filling. Advice document generation on Pro | Outlook and Google Calendar listed. Custom integrations on Enterprise | Stored in Sydney. Some processing by subprocessors may happen overseas | Free for 10 meetings, A$99 Plus, A$299 Pro |
| Filenote.ai | You record in Microsoft Teams or Zoom, online or in person. It works from that recording | Client summary emails, engagement letters, mind maps. RoA Word documents and strategy papers on PRO | Your inbox, SharePoint or OneDrive | Site says processing is in-country. No region named on the pages we checked | A$139 Standard, A$249 PRO |
| Sombra Notes | You upload a recording, or paste a transcript or rough notes | File notes are the focus | No practice software integration named on its home page | App and database in Australia. AI processing in the US by default, Sydney on request | A$49 for 20 notes, A$89 unlimited, A$179 for a team of 3 |
| CallNote | Does not record. Receives a transcript from Teams, Aircall or Dialpad, or by paste, upload, email or voice memo | Nothing. File notes only | HubSpot or Microsoft Dynamics 365. Also Clio, Slack, Notion, Zapier, PDF | Australia (AWS Sydney) | A$149 Solo, A$99 per seat on Team |
If you want advice documents as well as file notes
Marloo
Marloo is the closest to Paradino in breadth. Its site describes meeting notes, advice document creation, task management, form filling, email and an assistant called Ask Marloo that answers questions about your clients. For online meetings, its help content says Marloo joins the waiting room and must be admitted before it can record, on Microsoft Teams, Zoom and Google Meet. In-person meetings are recorded in the web or mobile app. Its privacy policy says personal information is stored in Sydney, that some processing by subprocessors may happen in other jurisdictions, and that customer data and transcripts are not used to train any large language model. Its site says it is SOC 2 Type 2 compliant.
Pricing is free for your first 10 meetings, then A$99 per user a month for Plus, with support staff free, and A$299 for Pro, which adds the document generation workflow and customisable advice templates. Both exclude GST. We did not see Xplan or another Australian practice system on its integration list.
A good pick if you want one assistant across meetings, client history and advice documents, and you are comfortable with a notetaker joining online meetings. See CallNote vs Marloo.
Filenote.ai
Filenote.ai works from the recording you make in Microsoft Teams or Zoom, for online and in-person meetings. Standard, at A$139 per user a month, covers file notes from templates, client summary emails, transcripts, engagement letters and mind maps. PRO, at A$249, adds RoA Word documents, advice flowcharts, strategy papers, paraplanner request forms, fact find datasheets and your own custom templates. Both exclude GST and there is a 21-day free trial. You need a business Teams or Zoom licence.
On data, its security page says recordings stay in your own Teams or Zoom environment under your storage settings, that it never trains AI on your data, and that it is SOC 2 Type II certified. Documents are delivered to your inbox, SharePoint or OneDrive.
A good pick if your practice already lives in Microsoft Teams, you record meetings there, and you want RoAs and strategy papers without moving to a new workspace. See CallNote vs Filenote.ai.
If you only need the file note
Claras
Claras turns client meetings into structured file notes for Australian advisers. You record in the app or upload a recording from Teams, Zoom or your phone. Its site says data stays in Australia and that it is SOC 2 certified. Every plan includes Word and Xplan export. Pay as you go is A$50 a month for four notes, with extra notes at A$10 each. Unlimited is A$139 per adviser a month, with assistants at A$39. Both exclude GST.
A good pick if your notes have to land in Xplan. Paradino did not list Xplan when we checked, and CallNote does not connect to it either. On that point Claras is the better choice. See CallNote vs Claras.
Sombra Notes
Sombra Notes is an Australian-built file note tool for financial advisers. You upload a recording or paste a transcript or rough notes, and it drafts the file note and flags gaps. Its site says the app and database are hosted in Australia and that transcription runs through an Australian endpoint with nothing retained. It also says the AI processing is in the United States by default, with Sydney processing available on request. Ask about that before you put client data through it. Pricing is A$49 a month for 20 notes, A$89 for unlimited and A$179 for a team with three users included. The first three notes are free.
A good pick if price matters most and you are a solo adviser or a small team writing file notes only.
CallNote
CallNote is narrower than Paradino on purpose. It never records, never joins a meeting as a bot and never stores call audio. It takes a transcript that already exists and turns it into a file note in your practice's own format. Transcripts arrive automatically from Microsoft Teams, where each adviser connects their own Microsoft account and your Teams admin turns on transcript access once, and from Aircall or Dialpad for phone calls. Zoom and Google Meet transcripts are uploaded or pasted, and an in-person meeting can be dictated as a voice memo.
Paste one of your own past notes and CallNote builds a template with your headings and order, keeping nothing about that client. You review the note and publish it. It is then sealed with a SHA-256 checksum and locked, later changes are added as amendments, and there is a full audit log. Data is hosted in Sydney and is not used to train AI. Solo is A$149 a month and Team is A$99 per seat, with a 14-day free trial and no credit card.
CallNote is the wrong pick if you want RoAs or SoAs drafted, you need the tool to record in-person meetings for you, or you need a native link to Xplan, intelliflo office or Worksorted. It does none of those. It suits practices whose meetings and calls already produce transcripts, who want notes in their own format, and whose licensee would prefer that no extra vendor holds client audio. See CallNote vs Paradino and our financial advisers page.
Who suits which
- You use Paradino for SoAs and RoAs and want to keep that: look at Marloo Pro or Filenote.ai PRO. Or stay with Paradino and ask the questions above.
- You run intelliflo office or Worksorted and rely on the sync: Paradino is still the tool that lists those connections. None of the alternatives here name them.
- Your notes must land in Xplan: Claras.
- You record every meeting in Teams or Zoom already: Filenote.ai.
- You want the lowest cost for file notes only: Sombra Notes, Marloo Plus or Claras pay as you go, depending on volume.
- You do not want the note tool recording or holding audio, and your practice uses Dynamics 365 or HubSpot: CallNote.
- Your group also has mortgage brokers or lawyers: CallNote works across those teams. The others here are built for advisers.
Test any alternative on a real file note
Whatever you trial, run a real client conversation through it and compare the result with what your licensee expects on the file. Section 961B of the Corporations Act 2001 requires you to act in the client's best interests when giving personal advice, and the steps in s 961B(2) are what your records need to evidence. Under s 912G, a provision ASIC Instrument 2024/508 notionally inserts into the Act, the licensee must ensure records of personal advice to retail clients are kept for seven years after the advice is provided. A fictional example of the standard to aim for:
- Scope
Tom asked whether he should reduce his income protection cover to lower his premiums. The call was limited to that cover. His superannuation investments and his life cover were not reviewed and are not covered by this note.
- What the client wants
Tom wants to bring his insurance costs down this year. He said he does not want to be left unable to pay his mortgage, about $410,000, if he cannot work. He changed employers in July 2026 and now has ten days of paid sick leave a year.
- Inquiries made
- Asked what savings the household could draw on if Tom could not work. He said about three months of expenses.
- Asked whether his new employer provides any income protection through its super fund. Tom did not know. Adviser to check with the fund.
- Options discussed
Explained three options: keep the cover as it is, lengthen the waiting period before payments start from 30 days to 90 days, or reduce the monthly benefit. Explained that a longer waiting period usually lowers the premium, and that the household would need to cover the first three months from savings and sick leave. Tom said the longer waiting period sounded workable, given their savings. No recommendation was made on this call.
- Next steps
- Adviser to confirm any cover held through the new employer's super fund.
- Adviser to request premium quotes from the current insurer for a 90-day waiting period.
- Any advice to change the cover to be documented in the form the licensee requires.
- Follow-up call booked for Wednesday 14 October 2026.
Our guide to what to record in a financial advice file note covers each part, and the best interests duty file note checklist turns it into a test you can run on any tool's output.
Switching: a short checklist
- Export first. Download your existing file notes, advice documents and templates from the current tool and save them. The seven-year record-keeping obligation stays with your licensee and your practice, whichever vendor you use.
- Check the consent wording. If the new tool records or joins meetings, the consent you give clients may need to change. Listening devices laws in NSW, WA, SA, Tasmania and the ACT generally require all parties to consent to recording a private conversation, while Victoria, Queensland and the NT generally allow a party to record. Phone calls are also covered by the federal Telecommunications (Interception and Access) Act 1979. This is general information, not legal advice.
- Tell your licensee. Most licensees want to approve any tool that handles client information, and will ask where data is hosted and whether it is used to train AI.
- Run both for two weeks. Put the same three meetings through the old tool and the new one and compare the notes side by side before you cancel anything.
For a wider roundup that includes US platforms and Microsoft Teams recap, see Granola alternatives for financial advisers and the best AI file note software for financial advisers. Every head-to-head is on our comparison hub.
Common questions
Has Netwealth bought Paradino?
Netwealth announced on 15 September 2026 that it had agreed terms to acquire 100 per cent of Scale Up Platform Solutions Pty Ltd, trading as Paradino. Its ASX release says completion is expected by the end of October 2026, subject to customary conditions precedent. When we checked Netwealth's ASX announcements on 6 October 2026, completion had not been announced.
How much is Netwealth paying for Paradino?
Netwealth's ASX release of 15 September 2026 states upfront consideration of $20 million, made up of $15 million in cash and $5 million in Netwealth shares, with up to a further $9 million in earn-out and retention payments over four years. Netwealth also said it will invest a further $10 million in Paradino over two years.
Will Paradino change after the Netwealth acquisition?
Nothing has been announced about changes to Paradino's pricing, plans or integrations. Netwealth's ASX release says it intends to integrate Paradino's technology progressively into the broader Netwealth ecosystem. If you are a customer, ask Paradino directly about pricing, integrations, data hosting and availability to advisers who do not use Netwealth.
What are the best Paradino alternatives for Australian financial advisers?
It depends on what you use. For file notes plus advice documents, Marloo and Filenote.ai are the closest. For file notes with an Xplan export, Claras. For low-cost file notes, Sombra Notes. For file notes from a transcript you already have, with no recording by the tool and delivery to Dynamics 365 or HubSpot, CallNote.
Which Paradino alternative works with Xplan?
Claras lists Word and Xplan export on every plan. Paradino's site did not list Xplan among its connections when we checked in October 2026. CallNote has no Xplan integration, and notes are copied across or saved as a PDF. We did not see Xplan named on the Marloo, Filenote.ai or Sombra Notes pages we checked.
Does CallNote draft SoAs or RoAs like Paradino?
No. CallNote writes file notes only. It does not draft Statements of Advice, Records of Advice or strategy papers. Paradino lists RoAs on its Pro plan and SoAs on ProMax. Marloo lists advice document generation on its Pro plan, and Filenote.ai lists RoA Word documents on its PRO plan.