How to become a Paraplanner | qualifications, experience and more!

The Financial Services market was left largely unscathed by the Coronavirus pandemic and subsequent lockdown measures. Many opportunities rose from certain measures introduced such as the stamp duty holiday and roaring house prices. Recently, Finance Digest stated, in regard to the future of Paraplanning; “Firms are fast realising the importance of attracting, incentivising and retaining top-quality Paraplanner talent.

Time-stamps:

1:00​ - What do Paraplanners do?
3:40 - How to enter Paraplanning
4:46​ - How to find Paraplanner jobs
6:40 - Tips to become a Paraplanner

Links:

How to become a Paraplanner blog: https://bit.ly/3qYVa8m
Differences between DipFA and DipPFS: https://bit.ly/3wuMjwm
How to revise for DipFA: https://bit.ly/3k0q1A3

Contact us:

LinkedIn: https://www.linkedin.com/company/premierjobsuk
Instagram: @premierjobsuk
Facebook: @premierjobsuk
Twitter: @PremierJobsUK
Email: enquiries@premierjobsuk.com
Telephone: 0208 0044 154

To view our Paraplanner ‘hub’ with useful Paraplanner content, Paraplanner vacancies and more: https://www.premierjobsuk.com/paraplanner-jobs.html

Additionally, for candidates, paraplanning roles are opening more doors than ever…staying in a Paraplanner role also offers great long-term remunerative rewards. There has never been a better time to start a career as a Paraplanner and with the market likely to continue in its candidate-driven nature, hard-working individuals should make the most of job security and the many progression opportunities on offer.”

What does a Paraplanner do?
The Personal Finance Society defines the Paraplanner as “An individual who, along with the Financial Planner creates, prepares, implements and reviews a client’s Financial Plan and Advice.” This is a very brief description and, in the future, we will have more in-depth content coming out regarding the profession of paraplanning.

Experience needed to become a Paraplanner
Below are examples taken from our live vacancies of experience needed at every level as a guide:

Trainee Paraplanner:

You should have 1 – 3 years’ experience within financial planning as either a Senior Administrator or Trainee Paraplanner
You should have good overall knowledge of financial planning
Industry qualifications would be beneficial but not essential
Paraplanner:

You should have experience as a Paraplanner and previously prepared suitability reports
You should have good knowledge of financial planning, pensions and investments
Financial services qualifications are beneficial but not essential
Senior Paraplanner:

You should have 3+ years’ experience as a Paraplanner
You should be Level 4 Diploma qualified (DipFA or DipPFS)
You should have a strong understanding of investments, pensions and taxation

Personal qualities of a Paraplanner

Adaptable: There may be many scenarios where aspects of your role change. Whether that be client circumstance or even volume in workload; you must remain adaptable!

Knowledgeable: This one may be obvious, but you need to have a high level of knowledge and understanding in this role to effectively complete your duties.

Dependable: The Financial Advisor will want to trust that you are consistently making the right recommendations for clients and will hopefully come to a point where they can depend on you without question.

Self-motivated: An un-motivated Paraplanner is unlikely to fulfil their duty effectively, and would be constantly prompted by colleagues to complete tasks. A good Paraplanner is self-motivated and therefore can be trusted by the Financial Advisor and other colleagues.

Analytical: Discretion will often have to be applied in the role of a Paraplanner making analysis skills even more important, you may have to sift through an array of options to ultimately determine the most suitable option for clients.

Concise: In your role, you will often be faced with a vast amount of information. You will need to relay this back to the Financial Advisors in a summarised and concise way to save time whilst still driving the point home.

Qualifications
To become a Paraplanner, many roles will require you to obtain one of the two main Diplomas in Financial Planning, something we have extensively covered on our Blog and YouTube channel, these are:

DipFA: The Diploma for Financial Advisers (DipFA) is a Level 4 FCA approved qualification that is required to provide professional advice on retail investment(s).

DipPFS: The RQF Level 4 Diploma in Financial Planning develops core technical understanding across a broad range of key financial planning areas.

Differences between DipFA and DipPFS: In the long term, there are no differences between the two qualifications, ultimately, they should get you to the same destination....

#Paraplanner #Fs #DipFA #DipPFS

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