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Handling the exit of a paraplanner

This article is part of
Guide to Paraplanning

As with any member of staff, Linda Todd, head of operations at Bankhall, says it is good practice to have succession plans and handover processes in place.

She says training plans need to be available and put in place for the replacement, especially if the platforms and back office system are new to the paraplanner. But don’t just admit defeat or fail to learn anything if a paraplanner decides to hand in their notice.

Before your paraplanner leaves, Emma Watson, technical development and quality specialist for Towry, says you should make sure you find out the reason for them going.

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She says advisers should ask exiting paraplanners the following:

1) Is something lacking in the package we offer?

2) Were the working relationships strong enough?

Ms Watson says the answer to these two questions could help you to define the role better and recruit and retain a replacement.

In terms of interim support between your paraplanner’s exit until you find the right new person, Ms Watson says there are many companies out there now offering an outsourced paraplanning service.

Ms Watson says most outsourced paraplanning services are operated by former or current paraplanners.

She says: “Many firms find that this approach provides the level of support they need and so use them permanently; other firms depend on in-house paraplanners solely or a mix of the two.”

Ultimately don’t panic but go back to ‘What should I do to attract the best Paraplanner to my business?’, says Damian Davies, director and founder of Timebank.