What is paraplanning?

What is paraplanning? If you ask 100 advisers the best way to meet a client’s needs, you would get 100 different answers, and the same scenario applies to this ubiquitous question – paraplanning means many different things to many different people.

At Svensoni we see it as a way to take away some of the more technical aspects from an adviser, that an administrator does not have the knowledge or experience to do on an adviser’s behalf, with the aim being to free up more time for the adviser to see clients with.

In short, paraplanning is the process that goes on behind the scenes, assisting to make the life of the adviser easier, and ultimately more profitable.

Some advisers use all of our services and some just use one or maybe two. But all agree that it has helped transform their business and in some instances their life.

What is a paraplanner?

The title “Paraplanner” has latterly been added to a huge variety of roles across the spectrum, from adviser’s who have given up their registrations, through to administrators who have been in the industry a while.

At Svensoni we define a paraplanner as an experienced and qualified technical industry specialist providing dedicated support to financial advisers.Virtually all of our paraplanners are qualified to at least Diploma level or Chartered Status, whilst some are working towards either qualification.

All of our paraplanners have a minimum of 5 years industry experience, because whilst exam knowledge can be “crammed”, the kind of expertise that comes over time cannot be rushed.

A paraplanner isn’t just created over night, it requires years of experience and a vast array of knowledge.

Paraplanner role?

This is a bit of a “how long is a piece of string” question. Simplistically a paraplanner is an individual who will take some of the more technical aspects of the role away from the financial adviser.

At Svensoni, as an outsourced provider, we handle only the most specialist and technical aspects that you would find paraplanners doing in a general practice in a paraplanning role.

A paraplanner also operates as a skilled middleman between financial advisers and compliance departments. Our ability to understand what these compliance teams require and why, puts us in the best possible situation to pre-empt these queries, and provide the very highest quality of case to them first time.

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