Only 13% of financial advisers today began as paraplanners

The vast majority (84%) skipped paraplanning entirely, opting instead to jump directly into advisory roles or take alternative routes. Among those who spent time as paraplanners before transitioning to advising, there is a sentiment of regret. One adviser said: "I spent far too long as a paraplanner. Experience has shown that when you make yourself indispensable in a role, it becomes incredibly difficult to move out of that role into a different one. I stayed with the wrong employer for too long, one that just would not allow the step across into advice." Furthermore, one responden...