Paraplanning
Paragon Paraplanning is able to undertake all aspects of paraplanning from writing your reports or suitability letters to undertaking the research to support your recommendations.
All IFAs work in different ways and will require different things at different times. For this reason we only work with a very small number of discerning IFAs and are committed to building a relationship with them in order to provide them with the individual service they require.
What is a paraplanner?
Within the financial services industry there is a generally accepted process which financial advisers and financial planners go through prior to providing their clients with a financial plan or report. In simple terms this will be a meeting with the client at which the adviser or planner will ‘get to know’ their client and establish whether there is any way in which they can work together to help the client achieve their financial needs and objectives. If the financial adviser/planner feels that they can assist in some way they will often arrange a further meeting at which they will present their solutions to the client.
A paraplanner is a person who will work with the financial planner / adviser on devising the best solution for the client. They will understand the client’s financial situation, understand their needs and objectives, understand what they want to achieve and work with the financial planner to devise a strategy and solution to meet those needs.
Differences
There are a number of important differences between the service Paragon Paraplanning provides and that of other outsourced paraplanners and this distinction is set out here in order for you to be able to determine the type of service you require and the cost involved.
1. Qualifications – Martin is a Chartered and Certified Financial Planner.
2. Case Discussion – Martin is available to discuss cases with you. A number of IFAs use this service particularly those who work on their own. This allows IFAs to discuss a case which involves an area they may not normally deal with to ensure that they are not missing anything and that their advice is compliant.
3. All reports are sent as a
MS Word
document – many companies send you their reports as a pdf file,
Paragon Paraplanning send your reports to you as a word document,
the responsibility for the advice rests with you (the IFA) and you
have to be able to change your documents should you wish to.
If you wish to discuss ways in which you feel Paragon Paraplanning can help your business please get in touch.