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Dealing with redundancy

15 October 2020

As Covid has continued to bite, businesses are downsizing their staff. Should you or anyone you know be affected by redundancy, Lee Old of Anthony George Recruitment has some tips for making your next job is the right one.

With the Furlough Scheme coming to an end this month, should we be expecting more upset for paraplanners?

With companies now having to restructure, working from home becoming more permanent, along with a drop in new business, we’ve seen an increase in paraplanners that are being made redundant. Pre COVID paraplanners exploring their opportunities would be able to interview with an average of 3-5 companies before making a decision. Nowadays, it’s 1-2 opportunities with much more competition from their peers.

Get ahead of the competition; don’t waste time and be as thorough as you can. You’re looking for security and longevity with this move, make sure you have all the information to ensure that happens.

Circumstances may differ depending on whether you’re applying direct or going through a recruiter. Either way, before you even agree to the interview, do you know some of the basics of the position:

  • What CRM systems do they use?
  • Does the role include the necessary research and analysis? You might be surprised how many paraplanners that are not actually conducting any research and are purely writing reports.
  • What research software are they using for Pensions? Fund and Portfolios? Protection? Annuity? Cash Flow Modelling? Risk Profiler? Product comparison? Wrap comparison?
  • Do they have a centralised Investment proposition?
  • Are their reports templated?
  • What is the current setup for paraplanners? Pooled? 1-1? POD system?
  • What areas of advice are typically covered within the business?
  • What client involvement will you have?

Gather as much information that you can from the company or recruiter along with the job description. How does that coincide with the type of paraplanner that you are or that you want to become?

We have documents available that can help you with using Job Boards, Interview and Presentation Skills, Using LinkedIn, CV preparation and Engaging Potential Employers. Please feel free to email me on [email protected] for any documentation, and I would be more than happy to help.

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