Our client is seeking a Paraplanner is to provide essential technical and administrative support to financial advisers, helping to create accurate, compliant, and effective financial plans for clients. They will handle much of the behind-the-scenes work, allowing advisers to focus on client relationships and strategic advice.
Key Responsibilities
Research and Analysis
* Conduct in-depth research on financial products (e.g., pensions, investments, insurance) to determine the most suitable options for a client's financial goals.
* Analyse market trends, fund performance, and investment strategies to support the adviser’s recommendations.
* Perform cash flow analysis, tax planning, retirement projections, and risk assessments to provide data for financial planning.
* Use financial planning tools to create and update financial forecasts, plan structures, and manage client data.
* Accurately input client data into financial planning systems, ensuring that information is up to date and aligned with the adviser’s recommendations.
* Work with advisers to update plans based on new client information or changes in market conditions.
Suitability Reports
* Draft detailed suitability reports that explain why specific financial products or strategies are recommended to clients, ensuring they align with the client's objectives, needs, and risk profile.
* Ensure that all reports and advice adhere to regulatory standards, documenting the rationale for each recommendation.
* Prepare financial plans that may include retirement planning, investment strategies, tax-efficient structures, estate planning, and protection strategies, all tailored to the client's needs.
* Use financial planning software to model various scenarios, helping the adviser to explain the potential outcomes of different strategies to clients
Mentorship and Development
* Provide guidance and mentorship where applicable to team members and colleagues, sharing expertise to enhance team performance and knowledge
* Act as a resource for technical queries, where applicable helping the understanding of compliance and regulatory requirements.
Suitability Report Checking
* Where applicable and as required, review reports prepared by the team and ensure the accuracy, quality, compliance of suitability reports.
* Conduct assessments to confirm that reports align with clients' objectives, regulatory standards, and internal policies.
* As required, provide constructive feedback to team members to maintain high standards and improve reporting processes.
Regulatory Compliance and Risk Management
* Ensure that all financial advice, documents, and reports comply with relevant regulations, and anti-money laundering requirements.
* Maintain accurate records of client files and ensure they are audit-ready, meeting both internal and external regulatory standards.
* Identify potential compliance risks and ensure that financial recommendations are within regulatory limits.
Advisers and Client Support
* Collaborate with financial advisers to provide technical support, answer queries, and ensure all recommendations are thoroughly researched and justified.
* Occasionally, communicate with clients to clarify financial details or follow up on outstanding information.
* Assist client services support where information is missing or assist with their understanding of requirements.
* Where necessary, coordinate with providers to gather required documents or information.
* Assist in completing and submitting application forms for complex cases where required.
Continuous Learning and Development
* Stay updated on changes in financial regulations, products, tax laws, and industry best practices to provide up-to-date and relevant support to advisers.
* Pursue ongoing education and qualifications to improve technical expertise and compliance knowledge.
Key Competencies & Characteristics
* Strong financial and regulatory knowledge, as well as good Industry awareness
* Technical paraplanning experience
* Good Knowledge of financial planning software
* Good organisational skills
* Strong analytical skills
* Client-centric approach
* Good communication skills
* Excellent written communication
* Attention to Detail
* Multi-tasking and ability to prioritise
* Adaptability
* An ability to contribute to a positive working culture within the physical office and remote working environment
Experience
* Experience in assisting financial advisers in preparing cash flow models and drafting personalised financial plans based on client needs.
* Hands-on experience researching and comparing financial products, analysing investment options, and understanding tax implications to support adviser recommendations.
* Client Interaction experience
* Knowledge of Regulatory Requirements
* Extensive use of financial planning software
Qualifications
* Level 4 or equivalent – working towards level 6
Technical Knowledge
To succeed in this role, you will have good technical knowledge and a deep understanding of financial products and compliance regulations.