The paraplanning profession, as highlighted by Cathi Harrison, owner of The Verve Group and Para-Sols, is currently undervalued, with job opportunities often overlooked. Over the past decade, a decline in the recognition and promotion of paraplanning has been observed. Harrison’s experience in the field for 17 years has shown a lack of awareness about the profession, leading to a shortage of skilled paraplanners in the market.
This scarcity has intensified competition among firms to attract and retain top paraplanners. With rising salary expectations, firms are struggling to prevent their talent from being poached by competitors. Despite these challenges, Harrison’s Para-Sols venture has evolved into The Verve Group, focusing on diverse financial services beyond paraplanning.
One of the initiatives under The Verve Group, The Art of Finance, aims to train and introduce new talent to the paraplanning, advice, and compliance fields. Recognizing the need for industry-wide change, Harrison launched ‘We Are Change’ to draw more individuals into paraplanning. By collaborating with firms to sponsor qualifications for new entrants, the program has supported multiple cohorts through training and exam preparation.
While the training program facilitates in-house paraplanner recruitment for participating firms, Harrison remains optimistic about the continued demand for Para-Sols’ services. As smaller firms expand, they may require support for various projects, ensuring continued collaboration with The Verve Group.
Harrison’s dedication to addressing sector challenges extends to the establishment of the Verve Foundation during the pandemic, focusing on industry issues and talent shortage. The foundation’s efforts have not only provided training opportunities but also fostered collaborations with larger firms to accelerate the program’s impact.
By actively engaging with industry stakeholders and advocating for the profession’s appeal, Harrison aims to reshape perceptions about finance careers and attract a more diverse pool of talent to paraplanning. The Verve Group’s multifaceted approach underscores the importance of proactive initiatives to drive industry growth and address talent shortages effectively.
As the financial landscape continues to evolve, initiatives like ‘We Are Change’ serve as a beacon for industry transformation, emphasizing the value of investing in talent development and fostering a supportive ecosystem for aspiring paraplanners.
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