What Does a Paraplanner Do?

Paraplanning is a support function for financial planners, allowing them to focus on client-facing activities and high-level planning and analysis. This essential role can be vital to the success of a firm, giving them time to grow and expand their client base.

Is paraplanning a good job?

A paraplanner is a crucial member of a financial planning team. They carry out essential administrative and research tasks, ensuring the lead financial planner can work with clients.

Typical paraplanning duties include preparing information, crunching numbers and developing advice documents for financial advisers. They also have responsibility for maintaining a comprehensive history of the advice given to clients.

In terms of Continuing Professional Development, paraplanners are required to keep their technical knowledge up to date by keeping abreast of any regulatory changes and trends within the industry. This helps to ensure they continue to deliver advice that is up to date and effective for their clients.

Paraplanning can be a fulfilling career with many opportunities for progression. This includes the ability to take on more senior roles, such as managing a team or running your own outsourced paraplanning business.

Salaries in paraplanning start at around PS30,000 a year and can go up to well over PS50,000 for more senior roles, depending on experience. Freelance work can be a great way to get the experience and qualifications you need if you want to set up your own practice one day.

In the financial services sector, paraplanning is a vital service that is in high demand and in short supply. If you are interested in a career as a paraplanner, it is now more than ever a good time to enter this market.