Paraplanner
Location of Role: Mayfair, London
Salary Range: £40,000 – £50,000 per annum, plus performance related bonus scheme
Contract: Permanent position
Hours: 40 hours per week but flexibility will be required to achieve objectives
Experience required: A good understanding of the financial services regulation & holistic financial planning, having been performing the role of Paraplanner
Qualifications: Chartered Financial Planner or UK Diploma in regulated Financial Advice
Main Purpose of role
Provide a full professional financial planning support to financial advisers, Partners and Private Client Managers
Key responsibilities & duties
Prepare and maintain client files
- With the Partner and or Private Client Manager (PCM), collect quantitative detailed information required to compile a Financial Plan;
- Ensure that all compliance paperwork is present;
- Ensure that all Know Your Client information (KYC) is up to date and accurate;
- Confirm risk profile is determined and has been agreed with the client;
- Discuss client objectives with Partner and or PCM;
- Identify and obtain the information necessary to compile financial cash flow forecast;
- Compile net worth statement; income and expenditure statements and financial cash flow forecast and discuss with Partner and or PCM.
Prepare recommendations
- Identify areas for planning;
- Undertake research both independently and with the Partner and or PCM to identify suitable solutions to meet the clients need;
- Prepare information/comparisons for analysis by the Partner and or PCM;
- Consider allocation of assets for investment strategy with regard to client risk profile and in line with Blevins Franks models;
- Ensure that all investment strategies are approved by the Investment Team;
- Prepare draft recommendation reports to be discussed/signed off by the Partner and or PCM within defined service levels;
- Prepare suitability letters in accordance with the agreed recommendations within defined service standards.
Where appropriate build cash flow models
- Ensure that quantitative data used by the cash flow modelling tool is correct;
- Interpret qualitative data received from Planner and build scenarios using cash flow modelling tool.
Oversee implementation of recommendations
- Oversee the completion of application/proposals forms;
- Ensure all compliance paperwork is in order;
- Oversee changes to clients’ investments as instructed;
- Oversee implementation of the agreed recommendations.
Provide assistance for client reviews
- Act as main point of contact for the Partner and Private Client Manager to assist them with dealing effectively with queries from clients and other parties through effective communication;
- Attend client meetings when required;
Experience & skills qualifications requirements for this role:
- Excellent understanding of the financial planning process;
- Excellent report writing skills;
- Proficient IT skills. Word processing and spreadsheet knowledge;
- Minimum 2 years’ experience working within a financial planning company;
- Experience using cash-flow forecasts.
