The role of the Paraplanner is to assist the Financial Adviser in researching analysing & preparing compliant financial reports for clients that verify the recommendations made in accordance with the company investment philosophy. It should also be noted that the Paraplanner role is distinctly different from the role of a Financial Adviser. See below bullet points for more detailed information.
- Understand the key characteristics, risk and features of those investment products available through the firm, including any general tax implications and costs to be incurred by the client in the context of transactions. Particular care should be taken when giving information with respect to products characterised by higher levels of complexity;
- Understand the total amount of costs and charges to be incurred by the client in the context of transactions in an investment product, or investment services or ancillary services;
- Understand the characteristics and scope of investment services or ancillary services;
- Understand the difference between past performance and future performance scenarios as well as the limits of predictive forecasting;
- Understand issues relating to market abuse and anti-money laundering;
- Assess data relevant to the investment products on which they provide information to clients such as Key Investor Information Documents, prospectuses, financial statements, or financial data;
- Have a basic knowledge of valuation principles for the type of investment products in relation to which the information is provided.
- To be able to discuss with clients the different types of Investment & ISA Accounts and the relevant limits, to be able to discuss ongoing service and produce and provide valuations.
- Understand what a conflict of Interest (COI) is, how a COI may arise and how to manage it
- Understand the company gift and inducement policy rules
- Keep up to date with changes in company policies and procedures
- Recognise the difference between information and advice
- Complete the activities as shown in the LifePlanning Solutions Training & Competence (T & C) plan (Where applicable)
- Undertake in the staff training and firm specific assessments required under the T & C plan (Where applicable)
- Maintain knowledge and competence in the firm's internal procedures as highlighted in the T & C plan
- Preparation of advice letters, reports and financial plans;
- Creation and maintenance of clients' cash flow forecasts/balance sheets;
- Responsible for providing the advisers with detailed, complex technical information and draft reports;
- Collation and maintenance of information and documents required to support the advice team in providing compliant advice, including relevant Selectapension reports and tax calculations;
- Ensuring all research and supporting documentation is saved as per company procedures.
- Provider communication and correspondence, including issuing and chasing LoAs
- Policy check sheets.
- Ensuring all client files remain compliant;
- Provide support to administration in the processing of and successful implementation of all clients' affairs;
- Keep up to date with all relevant product, legislative and technical changes, as required; Maintain sufficient suitable relevant Continuous professional Development records applicable to the role.
- Any other duties deemed appropriate by Senior Management
Requirements and prospects Desired skills
- Good attention to detail
- Ability to interpret reports and transaction listings from investment platforms in order to enable the advice process.
- Excellent standard of written & verbal communication;
- Ability to empathise and build strong business relationships with our clients, other staff and strategic partners
- Possess the ability to work using your own initiative, the preferred candidate must have a can-do attitude, possess the ability to search out solution
- Ability to work under pressure on occasions to achieve deadlines
- Ability to manage own time, workload and ensure that all contractual obligations are met with firms; and clients
- Good computer knowledge and skills, must be comfortable with Microsoft word and Excel
- Project Management Skills
- Professional and positive attitude
- Strong interpersonal skills
- Strong organisational skills and efficiency
- Ability to work on your own and also to liaise with Administration and Advisers alike.
- Must have secured a minimum of grade C/4 in GCSE, or equivalents,maths and English
LifePlanning Solutions will support all members of staff in Career Development through relevant ongoing professional qualifications.Things to consider
Salary review/increases are normally considered each year.
Periodic checks required if relevant to the role.