A Queensland-based paraplanning business, Contract Paraplanning Services (CPS), has recently undergone a change in ownership, with two new owners taking the reins to propel the company towards further expansion. Established by Hayley Knight in Cairns back in 2013, CPS specializes in offering outsourced paraplanning services on a contractual basis, allowing financial advisors to streamline their administrative tasks and concentrate more on client interactions and business growth.

The latest development sees Clinton Weekes and Chloe Weekes stepping in as the new CEO and COO, respectively, after acquiring CPS. Clinton Weekes brings a wealth of experience in the financial advisory sector, having worked as a self-employed paraplanner for six years and later transitioning to roles at MLC Advice as a financial planner and principal owner, as well as at Commonwealth Bank and Colonial First State. On the other hand, Chloe Weekes contributes her extensive background in client service management, gained over 15 years, including her tenure at MLC Advice.

The new owners are enthusiastic about driving CPS towards a future marked by innovation and growth. Their strategic vision involves expanding the existing paraplanning services while enhancing the overall service quality. Clinton Weekes expressed his excitement about the acquisition, emphasizing the importance of maintaining the business’s industry reputation while introducing novel approaches to cater to client needs. Chloe Weekes echoed this sentiment, highlighting their combined expertise in the field as a driving force behind their plans for CPS.

In a previous interview, Hayley Knight addressed common misconceptions surrounding paraplanners, stressing that these professionals possess equivalent technical knowledge to financial advisors and play a crucial role in managing CRM systems and back-office operations. Notably, findings from the 2023 Australian Paraplanner Survey indicated that only a small percentage of paraplanners aspire to transition into financial advising, underscoring the satisfaction and contentment many derive from their current roles.

The acquisition of CPS by the new owners not only signifies a change in leadership but also symbolizes a strategic shift towards fostering innovation, client-centric service, and sustained growth within the paraplanning business landscape. As the industry continues to evolve, the expertise and vision of individuals like Clinton Weekes and Chloe Weekes are poised to shape the trajectory of CPS and further elevate the standards of paraplanning services in Queensland and beyond.