You wouldn't hire a barrister to do a conveyancing job yet, in financial planning terms, day in day out, highly qualified financial advisers the length and breadth of the country continue to do just that by carrying out their own account admin.
Just as in the legal profession you have paralegals, we have paraplanners, but they seem to be a preserve of the few and until now there has been no clear career structure attached to the role. Luckily the proposed QCA level 4 paraplanning qualification due for launch by the end of the year by the IFP will go a long way to addressing the issue and will lead to more advisers using them. To my mind paraplanners and administrators free advisers up to do what they are best qualified to do and that is advise their clients. For a cost effective, client-centred business model the small, w...
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