Paraplanning - Financial Planning

Roles and Responsibilities:
The Paraplanner’s role may be broken down into four key parts:
A. Preparing and maintaining the client files – software entries
B. Understanding and analyzing the recommendations to confirm that the compliance requirements are met
C. Implementing recommendations
D. Review external networks.
A. Preparing and maintaining the client file:
 Generally the Financial Planner would collect the qualitative information (client attitudes, life goals etc.) leaving the Paraplanner to collect all the quantitative detailed information required to compile a financial plan.
 Specific activities include:
 Check all compliance paperwork is present
 Confirm client risk profile is determined
 Discuss client objectives with planner
 Identify and obtain the information necessary to compile financial cash flow forecast
 Compile draft net worth statement; income and expenditure statements and financial
 Cash flow forecast and discuss with planner.
B. Understanding and analyzing the recommendations
 Identify areas for planning
 Undertake research both independently and with the Financial Planner to identify suitable solutions to meet the client’s needs
 Prepare information/comparisons for analysis.Complete current and future net worth and cash flow projection as per the recommendation.
 Prepare draft recommendation reports to be discussed/signed off by planner.
C. Implementing recommendations:
 Complete application / proposals forms
 Ensure all compliance paperwork is in order
 Make changes to clients’ investments as instructed
 Implement the chosen investment strategies
D. Review:
 Organise future planning meetings with client as per the review period.
 Complete review packs in preparation for client meeting.
 Review investment portfolio, asset allocation, risk profile etc.
Key Skills:
 Excellent Verbal and Written Communication Skills
 Strong Financial and Analytical skills
 Knowledge of MS‐Excel, MS‐Word
Qualifications and