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Former bank adviser turns to Timebank for training

Mr Plant, who had been working for a high-street bank in Hereford, said he had come across paraplanning outsourcing firm The Timebank in 2013.

He said he had worked for his employer for almost 12 years: “Training up to become an adviser, but I was getting to the point where I felt I had no further to go.”

While he declined to name the bank, he said he felt the restrictions imposed on him to be an advocate for the bank’s narrow range of products.

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He said he came across the Timebank name by chance, and got in touch with founder Damian Davies who invited him to meet the team.

Mr Plant said: “I stayed in touch and realised it was time for a career change. This was a chance to improve myself and to learn more. In the bank, it was all one-provider driven and therefore one-sided but as a paraplanner, I could become whole-of-market and understand how everything worked.”

He added that the biggest challenge - and the most enjoyable part - of the training was the learning curve.

Mr Plant joined The Timebank at the end of 2013 - “at the bottom, in the support team”, and although he is already QCF level four qualified, he is being trained over the next two years to reach QCF level six, Chartered and only then will he be a fully-fledged Timebank paraplanner.

Response

Damian Davies, founder of The Timebank, said: “We have paraplanners all over the country, from Dunblaine to Bristol, and we have roughly 23 paraplanners already.

“We start them all off in the support team, doing data harvesting, tidying up cases, looking for policy information, and they will shadow a paraplanner each week for one day to learn what is needed, before taking a sequence of exams.

“Only when they reach QCF level six, become chartered and have enough experience do we qualify them as paraplanners.”