A Paraplanner is employed to work alongside a Financial Planner in the preparation and administration of financial plans and reporting for a client. Very often they are Financial Planners themselves.
What qualifications will a Paraplanner need?
Paraplanners need to demonstrate excellence in writing reports and providing statistical analysis. You will need a background which has involved investment research along with a strong understanding of the issues surrounding compliance. A Certificate in Financial Planning (CFP) is normally expected as standard for recruitment agencies and companies looking to employ a Paraplanner. You will also need to be a Certified Financial Planner in order to work in more senior Paraplanner roles.
What will recruiters look for?
Organised and diligent, a Paraplanner will have a working knowledge of standard financial operating systems along with associated administration tools. As you would expect large Investment and Wealth Management organisations look for experienced Paraplanners and in London you can expect to be paid above average in this type of role.
Recruiters will normally look for someone with a relevant diploma or degree background when searching for a Paraplanner. Whilst a great deal of administration is required in this job Paraplanners need a large amount of core financial planning skills. An average wage for the role is circa £27k.