Purpose Paraplanners perform technical research, analysis, and ad hoc administrative duties to support PWM and the adviser with client servicing and management. A large part of a Paraplanners' time is spent writing suitability reports to confirm the advice being given to clients; confirming the benefits, any disadvantages and costs and charges. Paraplanners may attend client meetings when required to make notes, present cashflow outputs, and answer technical-related queries.
This role can be a great opportunity for individuals who are seeking to gain exposure to a wide range of financial planning. It can be suitable for individuals looking to build a career in Paraplanning or towards future roles as a financial adviser, manager, or compliance officer.
Responsibilities
Preparing and maintaining the client file: confirming policy information from letters of authority to understand a client's existing arrangements, ensuring relevant items are uploaded to the client's file on our back office system (Xplan)
Organising recommendations: identifying areas of need, carrying out research to find solutions, considering investment strategies and tax implications in conjunction with the Adviser
Research: comparing different solutions to ensure the best possible client outcomes in conjunction with the PWM panels
Preparing recommendation reports: using template tools (e.g. Genovo or Xplan) to generate full suitability reports and short suitability letters for ad-hoc advice events
Producing Illustrations and Key Features: preparing supporting documents that match the suitability report; uploading to the case file on Xplan in conjunction with the Administrator
Implementing recommendations: ensure all compliance paperwork is accurate and up to date, assisting the admin to implement trades using the trade instruction form and 'four-eye checks'
Upload Enable compliance documents: ensure all research is uploaded to the client file on Xplan
Annual review preparation and completion: preparing valuations and other analysis for use in the client annual review, including cashflow modelling
Annual Review Documents: Completing annual review documents, confirming ongoing suitability of a client's existing arrangements:
Ensure the client file is complete to support 'Redporth' file reviews, including vulnerable status, ATRQ, factfind, client agreement, risk questionnaire, etc
Attending Client Meetings: When required by the financial adviser, attend client meetings to take notes and assist with cash flow modelling
Maintain an Accurate Task List: making your report pipeline available to your line manager
Develop and Maintain Effective Relationships: with colleagues, clients and third parties
Provide Cover and Support: to other members of the team during sickness & holidays when deemed necessary by managers within PWM
Contribute to Company Projects: designed to enhance operational efficiency and the service to our clients when required
Incident Reporting and Regular Testing: ensure that all errors or incidents are uploaded to Accelerate, and learning/compliance modules are completed within the deadlines
Attend Team Meetings and Training: in person if required
About You
Knowledge
Understanding of the annual FCA ongoing suitability process and experience providing support with this
Understanding of advice delivery to clients through report writing and disclosure requirements
Knowledge of Xplan (or similar practice management systems) would be beneficial
Good working knowledge of all Microsoft Office applications, specifically Excel
Qualifications
Candidates must have attained a minimum level 4 Diploma in Regulated Financial Planning (or equivalent – CII desirable)
Desire to achieve level 6 and Chartered status
Skills
Client-focused, delivering a high standard of client service
Must be proactive and able to use initiative
High level of attention to detail
Enthusiastic and motivated
Organised with good time management
Ability to work with minimum supervision whilst managing multiple and conflicting deadlines
Willingness to take responsibility and see a task through to completion
Adaptive to change
Confident and capable communicator
Proficient in standard industry advice and research tools, for example: FE Analytics, Cashflow Modelling (e.g. Voyant or FinCalc) and at least one industry standard Practice Management System
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