Paraplanners who are unable or unwilling to progress to becoming advisers should move to an IFA firm where they will be supported, according to LEBC Group, which has issued a career checklist for paraplanners.
Jeremy MacLeod, chief operating officer at LEBC, said: “You must have confidence in your ability. You learn an awful lot as a paraplanner, and the skill is to be able to impart that knowledge to the client in addition to providing them with a report.”
| Checklist for paraplanners |
| 1. Complete qualifications promptly |
| 2. Monitor industry changes consistently |
| 3. Be confident in his own knowledge and ability |
| 4. Be part of a growing IFA business offering scope and the scale to develop |
| 5. Attend client meetings/engage in telephone consultations to see how advice is given |
| 6. Listen to clients carefully |
Mr MacLeod said a paraplanner who was not being given the opportunity of career development from their employer to become an adviser should consider moving to an IFA firm that has the scope.
“Otherwise that individual will end up feeling trapped and in a rut”, he explained.
Industry view
Joanna Hague, a paraplanner and chartered and certified financial planner at Yorkshire-based Investment for Life, said: “This checklist represents what a paraplanner needs to do. The best advice is to get involved in meetings with advisers, join in, listen and learn what clients need and what they get from their advisers, and build trust.
“You’re in a pretty privileged position because you can bond with clients if and when you take over from the adviser.”
