Outsourced paraplanning firm eParaplan Connect has launched a new support service for advice firms, offering a range of paraplanning and administration packages focussed on solving individual firm’s needs and freeing up advisers to focus on financial planning.
Michelle Wilson-Stimson, CEO of eParaplan Connect, says the firm is offering three packages under the Wealth Connect’ banner – Orange, Aqua and Aqua + – offering different types of proactive, year-round support, designed to meet regulatory requirements and ensure positive client outcomes.
“Orange is the basic plan, designed to ensure firms are meeting minimum regulatory needs, progressing through Aqua, which ensures advisers meet Consumer Duty requirements, such as adequately assessing client vulnerability and incorporating features for both pre- and post-meeting preparations.
“This includes new tools like the ‘Vulnerability Flowchart Assessment’ and the ‘Client Impact Assessment’, which enable advisers to walk into client meetings better prepared, allowing them to concentrate on strategic advising.”
The third package, Aqua+ , which includes full service paraplanning and admin, takes this a step further, she adds, by offering a package that includes additional financial activities like annual Bed & ISAs and Pension top-ups.
Wilson-Stimson says: “In the financial advice sector, professionals are grappling with an array of challenges, from intricate regulations to escalating operational costs. These obstacles often deter advisers from focusing on their core responsibility – providing expert financial guidance. Recognising this industry-wide struggle, we felt a new type of service was needed to provide tailored solutions for advisers’ specific needs.”
“The all-encompassing Aqua + plan frees advisers to focus on expanding their client base and refining their advising strategies.”
eParaplan operates a fixed fee subscription models. This, Wilson-Stimson says, “eliminates the uncertainties of hourly billing, offering advisers predictability, transparency, and aligned interests.
“Advisers can better manage their finances, build trust through clear pricing, and prioritise service quality over billable hours.”
eParaplan Connect’s services are designed to integrate seamlessly into an adviser’s existing operational processes for a smooth transition.
“This approach not only eases the adoption but also enhances the adviser’s efficiency, allowing them to better serve their clients and grow their business,” Wilson-Stimson says.
“We are setting new benchmarks in solving the problems that financial advisers face. The Wealth Connect fixed fee subscription plans, enable us to offer a compelling solution to the industry’s challenges, one that could well serve as a blueprint for the future of financial advising.”
