Clients will probably be aware that we employ a number of paraplanners at Brunel but even our current clients, as well as anyone who does not currently work with us, may be at a loss as to what a paraplanner does.
Although they are not often seen on the client-facing side of things, Sarah, Andy and Dan – the Brunel paraplanners – fulfil a vital role for clients within Brunel. Indeed, paraplanners in the wider industry make a great contribution to financial planning, acting as a vital and expert research, analysis and client services function, working in tandem with the financial planner to deliver clients’ financial plans.
The role is a sophisticated one and many paraplanners are equally as qualified as the financial adviser they work with, often holding Certified Financial Planner status or other relevant financial planning qualifications. At Brunel, Sarah holds the IFP Accredited Paraplanner qualification and Andy and Dan are both on track to achieve the same very soon. Whilst the adviser will see the client on a regular basis and gather the details of their aims and goals, the paraplanner will then work with the adviser and this information to establish the plan for the client.
If the plan is already in place, either entirely or in part, the paraplanner may produce something called a suitability report which is essentially a thorough assessment of the financial plan. This is extremely important, as it operates as a ‘second check’ to make sure that the plan being put in place meets things such as the client’s attitude to risk and puts them in a good position to achieve their financial goals.
Paraplanners make up a great part of the Brunel team and are vital in ensuring our planning service for clients is accurate, timely and works towards their financial planning goals. You might not see Sarah, Andy and Dan often but rest assured: they’re here, working for you!