Paraplanner

Preparing and maintaining the client file: 

Generally, the financial planner should collect the qualitative and quantitative information as part of the Fact Find process. The paraplanner may attend client meetings.

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 cashflow forecast
• Compile draft net worth statement – income and expenditure statements and financial cashflow forecast and discuss with planner

Preparing recommendations: 

• Identify areas for planning along with the financial planner
• Undertake research both independently and with the financial planner to identify suitable solutions to meet the clients needs
• Prepare information/comparisons for analysis by planner
• Liaise with client’s legal and tax advisers (if applicable)
• Consider current and future allocation of assets for investment strategy with regard to client risk profile
• Prepare draft recommendation reports to be discussed/signed off by planner

Implementing recommendations:

• Prepare suitability letters in accordance with the agreed recommendations
• Complete application / proposals forms along with administrator
• Ensure all compliance paperwork is in order
• Make changes to clients’ investments as instructed
• Implement the chosen investment strategies

Review:

• Act as a point of contact and deal effectively with queries from clients and other parties through effective communication
• Establish and build strong relationships with clients and attend client meetings with planner if required
• Organise future planning meetings with client
• Review investment portfolio, asset allocation, risk profile etc
• Send planning figures to client for update and revision in preparation for next meeting
• Initiate review meetings with clients