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Guide to Paraplanning

    Guide to Paraplanning


    Then it was a relatively new discipline that sat somewhere between administrator and financial planner.

    What is unchanged over the years is that at a most basic level a paraplanner works alongside an adviser and drafts the client advice report. However, in 2015 a great paraplanner is a lot more than just an adviser’s glorified assistant.

    A good paraplanner can add real value to a firm in terms of creating capacity for its advisers, allowing them to spend more time with clients and therefore driving more income.

    They often become a source of referral and guidance and are there to ensure that any advice is suitable, of the very best quality and fully documented on the file - critical in the compliance-orientated post-RDR world.

    This guide spells out what a paraplanner can deliver for your business, the cost to your business of having such a resource and how to make sure you attract and retain top talent.

    Supporting material was provided by: Emma Watson, technical development and quality specialist for Towry; Damian Davies, director and founder of Timebank; and Linda Todd, head of operations at Bankhall.

    In this guide


    Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

    1. When did the IFP launch its Certificate in Paraplanning qualification?

    2. Those who achieve the IFP’s qualification can then call themselves what?

    3. How much does Ms Watson say you will pay for a Diploma qualified, experienced paraplanner?

    4. And this can rise to in excess of what for one able to give a degree of direct advice?

    5. What does Mr Davies say is important to retaining paraplanner talent, and one of the hardest things his company did?

    6. What does Ms Watson say is one of the biggest frustrations for paraplanners?

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