Paraplanning and the benefits of outsourcing

May 30, 2021 | Blog | 0 comments

Paraplanning is a relatively new profession within the world of Financial Services, having only begun to be recognised as a role in its own right over the last two decades or so.

The role of a Paraplanner is to use their technical knowledge and expertise to research and prepare reports for Financial Advisers and Planners.  However, we at Plus like to think that our Paraplanning service goes above and beyond that!

What is included in our Paraplanning Service?

Our service encompasses a wide range of tasks, designed to take the pressure off the St. James’s Place Partners and Advisers we work for.

From the initial sending of Letters of Authority, to gathering and checking information received from providers, the production of Critical Yield, Tax, and IHT calculations, the creation of illustrations and Advice Sets where necessary, to the submitting of cases to Business Assurance for approval, our Paraplanners do so much more than prepare Suitability Reports.

Our aim is that our clients view our Paraplanners as an extension of their own team, and a recent case study with SJP Senior Partner, John Home, is testament to this.

What are the benefits to outsourced Paraplanning?

Many firms look to outsource their paraplanning for business reasons such as cost, but outsourcing paraplanning can also provide the flexibility and potential to take on cases that previously they wouldn’t have been able to.

Our team of qualified and experienced Paraplanners have dealt with a vast array of cases, building up a reputation as complex case specialists.

The knowledge that our team is on hand to deal with a number of cases simultaneously, gives the Partners and Advisers we work with the ability to allocate more time to their clients, and allows them the freedom to grow their business, safe in the knowledge that we have the capacity to scale up and continue to support them and their recommendations.

The ability to pick up the phone and be able to get their allocated Paraplanner’s expert opinion on a case is invaluable, and it is those relationships that have kept our clients using our Paraplanning service time and again.

Who can our expert Paraplanners help?

Speaking of our clients, we have experience of working with SJP Partners and Advisers whose circumstances can differ greatly.  We can help anyone from Academy Partners, large Partner Practices, those who work alone, even those who perhaps have an in house Paraplanner, but need extra support at busy times.

The nature of our service is that all our clients need to do is register and complete the sign-up process, then they can simply pay on a case by case basis, with no minimum requirement as to the number of cases that must be sent across.

Having written over 17000 cases since 2013, and achieving some of the highest Quality of Documentation grades in the St.James’s Place Partnership, our experience speaks for itself.

But – don’t just take our word for it! Click here for some of our clients’ testimonials, and see how our Paraplanning service has helped them.

To discuss how our Paraplanners can help you, click here to book a meeting with our Client Relationship Manager.

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