Adviser support services network Bankhall has partnered with paraplanning firm The Timebank to launch a new service.
It will provide advisers with access to experienced paraplanners who are qualified to level 6.
Advisers can choose from a full hourly rate bespoke service, which effectively replicates an employed paraplanner, to a fixed price modular approach where firms choose from a menu of services depending on the individual needs of each case.
Jon Barham, head of business development at Bankhall, said: “We have seen increasing demand for paraplanning support from advisers as they look to balance their heavy workload and business risks, with the need to consistently deliver a high standard of service to their customers.
"Utilising quality paraplanners and working more efficiently can help busy advisers to spend more time in front of their clients and achieve their business goals.
“The Timebank has a highly qualified team and over 15 years’ experience in the paraplanning sector. After conducting a thorough review of the market it was clear that they are the ideal partner for us to work with on this exciting new initiative.”
Damian Davies, director at The Timebank, said the new service offers advisory firms a very flexible and competitive paraplanning package, which they can access in the way that works best for them.
He added: "The size of our team and high level of technical competence means that we can satisfy firms that need both short-term paraplanning cover, as well as those who are looking for a more strategic longer-term paraplanning relationship.”
