Welcome to the Paraplanning Hub – The home of outsourced paraplanning and financial administration.
The Paraplanning Hub has been designed and built by experienced and chartered financial planners. With the aim of providing a comprehensive and tailored outsourced paraplanning and financial administration services for busy, independently minded, financial planners.
As your financial practice support partner we are focused on delivering a cost effective outsourced paraplanning and financial administration service. One that compliments and evidences the quality of the face to face advice you are already providing to your clients.
The benefits of delegating the ‘paraplanning’ function to an outsourced paraplanner have been well documented, not least that it can help you spend more time with your clients. At the Paraplanning Hub we understand that ultimately it is you, the financial planner, who is still personally responsible for evidencing suitability. We therefore take our responsibilities as your paraplanning partner very seriously.
The Paraplanning Hub was built from the ground up with the clear understanding that paraplanning is not just about writing reports. It is about providing a total support service that ensures your whole financial planning offering evidences suitability.
Yes, on one level paraplanning is simply about undertaking the desk-based research and report writing functions that are part and parcel of a financial planner’s role. The required elements that need to be in place to evidence you have delivered suitable financial planning advice. However, we also know this paraplanning need to be tailored to your business plan, your target client market and your specific offering.
This is where the Paraplanning Hub comes in, we partner with our financial planner clients. We focus on ensuring their systems and procedures evidence the high-quality face to face financial planning services we know you offer your clients already. We follow a methodical and straight forward paraplanning process every time. Thereby ensuring every element of the required suitability evidence is considered and added to your files.
Financial Administration Support
The benefit of using the Paraplanning hub for all your paraplanning, practice management and administration services is having access to a full support team but only when you need them. This allws you to cover all the administration, business management and paraplanning tasks needed to run and operate a successful financial planning practice. We use your brand, your emails and your details to send and chase LOAs to collect the data to allow us to undertake paraplanning on your behalf. Our team are experienced in preparing annual client review packs and seamlessly producing the required continued suitability recommendations.
The Paraplanning Hub allows you to accces all the support you need. We become an extension of your advisory business and provide access to all levels of needed financial planning staff. We provide access to financial administrators, paraplanners and even a head of technical. All without the need to employ and maintain a team yourself.
Paraplanning – The nuts and bolts
Paraplanning’ has many variations and requirements and at the Paraplanning Hub we understand it is not just about the written suitability report. For example, to be deemed suitable, we understand that you will also need to evidence the following:
- Consistent and robust product research, comparison, analysis and selection.
- Sufficient ‘know your client’ information.
- Robust Central investment and proposition documents.
- Capacity for Loss – maybe using Cash Flow Modelling.
- Correct investment risk assessment and selection.
- Ongoing suitability.
For those who like to know all the details we have provided a detailed overview of the outsourced paraplanning elements we can deliver to help you ensure your financial planning files and central proposition documents are deemed suitable here.