Investment management firm GHC Capital Markets has launched an in-house paraplanning service.
The paraplanning service will work with financial planners and advisers to produce suitability reports, research to support adviser recommendations, and financial plans including lifetime cash flow forecasts.
GHC Paraplanning can be used alongside the company’s investment management propositions or as a standalone service.
Charges will depend on the services required, ranging from £30 an hour for fund research per product of up to five funds, to a £250 fee for report writing and research relating to pension vesting.
GHC Paraplanning services director Martin Vaughan says: “This service, which as far as we are aware is the first of its kind from an investment house, provides a straightforward and effective solution which gives planners and advisers more time to spend on essential business activities.”
Aurora Financial Planning chartered financial planner Aj Somal says: “It is an interesting development to see this kind of diversifying from an investment house. There is a potential conflict of interest and there is a question around how independent the service would be.”