Paraplanner

The Role of the Paraplanner

The Paraplanners role may be broken down into four key parts:

A. Preparing and maintaining the client files software entries

B. Understanding and analysing the recommendations to confirm that the compliance requirements aremet

C. Implementing recommendations

D. Review

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 afinancial 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 discussion 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 tomeet the clients 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 the 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 clients as per the review period.
• Complete review packs in preparation for client meetings.
• Review investment portfolio, asset allocation, risk profile etc.

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