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Editor’s comment of the week: The benefit of paraplanners

Online comment relating to last week’s article: Richard Bishop: Do I really need a paraplanner?

I am a career paraplanner. I turn down at least three advisory positions a month. I enjoy what I do and am well suited to it, and create significant value for my bank of advisers (which i can empirically prove but thats not for a general forum debate) – and you have just suggested that i have no worth or value?

There are two issues at play in terms of “paraplanners” – first is the continual one of the label of paraplanner being applied to all and sundry – my personal view has always been that to be a good paraplanner you should be at least as technically competent as an adviser and have a preference for detail (i.e. an adviser but instead of being good with people they are good with facts and figures)

Secondly is that contrary to popular opinion, only maybe 20 per cent of advisers benefit from having paraplanners – if you are technically minded and have time to write reports, and are confident about doing so, then you don’t need a paraplanner.

If you are not busy and struggle to generate work – don’t use a paraplanner. If you are so busy you can’t find time to yourself, then is the time to use a paraplanner – what you are willing and able to pass over will determine what the paraplaner does and the costs.

I have clients who want control over every aspect right up to the point of compiling a report, and I have others who send me a factfind and say “tell me what to sell”. It is horses for courses.

So while you can certainly suggest paraplanners have no use for you personally there are many out there who would benefit from paraplanning – provided the advisers understand whether it will help them or not – and provided paraplanners are brave enough to turn away those for whom paraplanning provides little benefit.

Tony Stevens



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There is one comment at the moment, we would love to hear your opinion too.

  1. RegulatorSaurusRex 29th October 2012 at 2:28 pm

    Many reports are beyond the ability of some advisers to read and understand! What chance do consumers have?

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