What Does a Paraplanner Do?

Paraplanning is a key part of the financial planning process and help advisers give their clients the best possible advice. They take on many of the non-customer-facing responsibilities, freeing up time for advisers to spend meeting their clients and helping to grow the business.

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Research and analysis skills are required in this role, as they work with financial planners to create a plan that meets the client’s needs. They use analytical software and conduct research to evaluate a client’s finances, ensuring that they make appropriate recommendations.

Writing reports and recommendations for financial advisers is also an important responsibility of a paraplanner. They use their knowledge of finance and analysis skills to write recommendations, such as a cash flow forecast or a balance sheet with line items based on a client’s income and expenses.

Organizing client records is another common task that paraplanners complete. As a financial planner may interact with multiple clients during the course of one workweek, effective organization can save these professionals time when reviewing documents.

Communication skills are important for this career path as paraplanners often work closely with financial advisers and other teams to provide clients with the best service possible. They must be able to explain complex concepts and solutions in a way that their clients can understand.

Developing your career as a paraplanner can be achieved by gaining experience in a relevant job role, or by completing an accredited course. Our advanced diploma in paraplanning is an excellent course that can be taken on a flexible basis and helps you learn the essential skills to get started in this exciting industry.