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What do paraplanners want for Christmas?

19 December 2017

In the spirit of the season, in our last parameters survey of the year and for a bit of fun, we asked paraplanners if there was one wish they could have for Christmas what it would be. Here are the top 5 things paraplanners said they would like (go to the end of the article for last year’s top 5).

All responses were anonymous, which means people could be totally up front in their answers.

Fifth most wished for item was better and more accurate tools to help with calculations – a decent CGT calculator being the top request.

At joint number 4 was better regulation, with respondents feeling the Regulator could do more to help financial planning firms stay compliant; alongside the wish that advisers would fully complete their factfinds.

Third on the list for paraplanners was more industry recognition of the importance of paraplanning in getting the right outcome for the client, as one respondent put it, “for a role that can be just as difficult as other, higher paid roles.”

The second most wished for item was faster turnaround and uniform answers from providers, notably in respect of DB transfer work, with particular emphasis on “providing the full and correct information that has been requested first time and without having to be chased or questioned, so we can rely on the information that has been sent”.

But the one thing more paraplanners in our poll said they would wish for this Christmas was: A pay rise or bonus. This may be a reflection of the growing recognition amongst paraplanners of their worth to their firms – or of the impact of rising inflation on their take home pay.

The single response that caught our eye, however, was this: “That every financial advisory company does put the clients’ best interest at the heart of everything they do.”

If you want to compare this year’s list to what paraplanners said last year, here are paraplanners’ top 5 wishes in 2016.

Last year’s top 5

  1. More support in the office (more administrators and more paraplanners ‘to help us do the best job we can for our clients’)
  2. Clearer fact finds/more information from advisers
  3. Standardised information from providers
  4. More time to do everything we need to do
  5. A quiet office/less interruptions


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