Category: Paraplanner

Paraplanners are set to navigate a transformative path beyond the elimination of Statements of Advice (SOAs), as suggested by the recent Quality of Advice Review (QAR). The potential removal of SOAs could have significant implications for the responsibilities of paraplanners, according to insights from Mutual Paraplanning Services, a specialized paraplanning firm. Founder of Mutual Plans,…

A former paraplanner who previously worked at St. James’s Place (SJP) has raised concerns about the lack of advice he received regarding his pension transfer. This individual has been awaiting resolution on his complaint for over nine months, highlighting the delay in addressing his pension-related issues. This case sheds light on the challenges faced by…

In the realm of financial advising, paraplanners are increasingly turning to artificial intelligence (AI) as a strategic tool to enhance client outcomes. According to recent research by Scottish Widows, a significant shift is observed among paraplanners who view AI as a means to streamline their tasks and improve the quality of services provided to clients.…

In the rapidly evolving landscape of financial advisory services, the role of paraplanners is under the spotlight as artificial intelligence (AI) continues to shape the industry. Contrary to fears of job displacement due to AI integration, industry experts assert that paraplanners and IFA administrators need not dread losing their positions to automation. Instead, they are…

In the financial advisory realm, there is a growing call for advisers to show respect for the expertise of paraplanners, regardless of their qualifications. Damian Davis, the founder of The Timebank, has emphasized the need to discard any condescending attitudes towards paraplanners with lower qualifications. This plea for mutual respect within the industry underscores the…

A recent survey conducted by the Paraplanner Hub and support service platform Tanngo has unveiled intriguing insights into the career aspirations of paraplanners within the financial industry. The survey indicates that only a mere 21% of paraplanners aspire to transition into financial adviser roles, highlighting a predominant contentment with their current positions. Traditionally, paraplanners have…

In a recent development, a paraplanner named Alan Gow, the founder of Argonaut Paraplanning, has raised concerns about the urgent need for a significant overhaul of suitability reports. According to Gow, these reports are currently lagging behind and are in what he describes as the ‘dark ages’. This call for change in suitability reports comes…

An expert in the financial industry is advocating for the recruitment of school leavers to breathe new life into the paraplanning sector. The call for fresh talent comes as a means to rejuvenate and invigorate the industry. Paraplanning, a crucial aspect of financial planning, requires a diverse skill set and a keen eye for detail.…

The Financial Advice Association Australia (FAAA) is advocating for increased precision in the Australian and New Zealand Standard Classification of Occupations (ANZSCO) concerning the financial advice sector. In response to the Australian Bureau of Statistics’ (ABS) consultation on the ANZSCO, the FAAA emphasized the importance of aligning the ANZSCO with the mandated educational prerequisites for…

The Personal Finance Society (PFS) has unveiled the upcoming Purely Paraplanning 2025 event, aiming to equip participants with essential insights into the evolving paraplanning landscape. Set to take place in central London on May 7, the conference boasts a comprehensive program curated to address key industry topics such as inheritance tax modifications, sustainability, vulnerability, and…