Up to approximately 8 years ago paraplanners in the UK did not exist. Advisers had their clients and would tend to complete everything involved in the planning process with the exception of processing any applications though in many instances advisers did this themselves also.
One Solution recognizes that paralanning has now become a vital part of the advice process and by employing highly technical and qualified individuals, who can offer skills in addition to those of the adviser, will provide the client with a positive professional experience.
What does a paraplanner do?
In One Wealth, the Paraplanner is a vital part of the team as they will review the adviser’s client’s needs and priorities. They will then research the market for the most appropriate solutions and prepare a financial report for the adviser to present to the client. They will also on occasions accompany advisers to client meetings to offer technical support and guidance.
Core skills required within the Paraplanning role
• Technical Knowledge in all aspects of financial planning
• Excellent report writing skills
• Ability to analyse statistics
• Ability to conduct research for appropriate providers and investments
• Good understanding of compliance issues
• Good time management skills
• Excellent interpersonal and IT skills
• Working knowledge of Wrap Platforms