First Paraplanner attains new Paraplanner Standard certification
9 July 2019
Reece Edwards, paraplanner at Hampshire Hill Group, has become the first paraplanner to attain The Paraplanner Standard™ certification.
Launched on 1 May 2018, The Paraplanner Standard™ was devised by Standards International, the accreditation body for the ISO and BS standards in financial advice in the UK, in conjunction with a Paraplanner Standard Committee of industry participants, including paraplanners, financial planners, business owners, practice managers, compliance managers, technical and client administrators.
Michelle Hoskin, managing director of Standards international, said the Standard is designed to “recognise and celebrate the pivotal role paraplanning plays in the financial planning business of the future”. Through its framework, the Standard evaluates specific sets of skills, principles and behaviours needed to excel in the role. There is no set timeline for going through the process.
It is currently divided into two parts; soft skills and technical. The former is very much a personal assessment, including an exploration of how the paraplanner fits into the firm, their thoughts on their role and their career and development aspirations.
In contrast, the technical assessment takes a more structured form, with applicants expected to work through the Standard point-by-point with the assessor.
The initial intake for the Standard was 35 candidates, of which Reece was one.
He was also a member of the Paraplanner Standard Committee, helping to devise the Standard. He says his decision to go through the process was partly inspired by the culture of training and development fostered at Nottingham-based Hampshire Hill. Managing director Richard Hampshire and all of the firm’s investment advisers have been awarded the ISO 22222 accreditation.
Reece says it was “an honour” to become the first person to go through the process. “I’ve seen the hard work that has gone into creating The Paraplanner Standard™ and the passion and drive behind it, so to pass was a proud moment.”
The experience of drilling down to his personal traits, skills and views was an eye-opening experience, he says.
“I have a tendency to go with a very broad view on things and the industry as a whole and I felt that Michelle wanted me to focus more on where I personally fit into that picture. However, she is great at putting you at ease and encouraging you to talk about yourself,” he says.
As part of the technical assessment Reece was asked to show evidence of his work in the form of four client files, which were thoroughly examined.
Reece describes the whole process from start to finish as “uplifting” and believes more advisers should encourage their paraplanners to apply, which he says he will go a long way to building an industry of robust, knowledgeable and dedicated paraplanners.
Commenting Michelle Hoskin said: “Reece is an amazing example of what a true professional paraplanner is. His hard work, creative thinking and professional approach to his role is outstanding.
“As a key influencer in the design of The Paraplanner Standard™ it was a personal pleasure to assess Reece against the professional benchmark of excellence.
“We are excited to see how he grows to add further value to the profession as he becomes instrumental in changing an industry into a true profession.”
You will be able to read the full interview with Reece on the process of achieving the Standard in the next issue of Professional Paraplanner.
Further information on the Paraplanner Standard can be found at: http://standardsinternational.co.uk/certification/theparaplannerstandard/
ATEB Consulting’s Steve Bailey examines why and how Paraplanners should consider a workplace pension in a pension transfer recommendation. Firms involved with...
Fund data and technology company FE fundinfo has acquired cashflow planning provider CashCalc, adding the cashflow planning capability to its suite...
The majority of paraplanners (58%) find suitability report writing software a useful tool but only if used in tandem...