Job description

Requirements

  • Entry level
  • No Education
  • Salary CA$40,000.00 - CA$45,000.00 gross per year
  • London

Description

Our client who are a highly successful Independent Financial Adviser (IFA) practice, who's clients range from SMEs through to international, multi-site quoted companies with upwards of 5000 employees, are looking to recruit an experienced Paraplanner for their Finchley office.

The role of a paraplanner can be broken down into four key elements:

Preparing and maintaining the client file

Generally, the adviser should collect the qualitative and quantitative information from a client via the completion of a factfind with additional soft facts recorded as appropriate - either within factfind or separate file/meeting notes - (this will include client attitudes, objectives and life goals, assets and liabilities, income and expenditure etc.) leaving the paraplanner to collate and analyse the information in order to assist with compiling a financial plan. The Paraplanner may attend client meetings; specific activities include:


- Check all compliance paperwork is present (this will include terms of business; schedule of charges; money laundering verification documents)
- Confirm risk profile assessment complete (where investment work is required) and appropriate report(s) provided to client and recorded on file
- Review client details and agree objectives with adviser

Preparing recommendations

Having prepared the file and considered the above, the paraplanner can then:


- Identify areas for planning (generally in conjunction with the adviser)
- Review existing plans/affairs if applicable as part of the overall review for meeting client objectives
- Undertake research to identify solutions to meet clients’ needs and objectives (both independently and with the adviser)
- Prepare information and comparisons for analysis
- Liaise with client’s legal and tax advisers if applicable
- If applicable, consider current and future investment strategy for the client taking into consideration their risk profile and objectives
- Prepare final recommendations to be given to the adviser to present to the client

Implementing recommendations

Once the adviser has confirmed how to proceed, the paraplanner will then:


- Prepare a suitability report in accordance with the agreed recommendations
- Collate all the relevant documentation to present to the client; including personalised illustrations / Key Features Documentation / other appropriate fund and product-literature associated with the recommendation / and paperwork that requires completion
- On receipt of the completed paperwork, the paraplanner will then finalise the application process by readying the file to hand over to compliance to check; this will involve:
- Completing new business submission sheet
- Completing compliance checklist
- Checking the application forms to ensure these are in order and have been completed correctly
- Ensure all compliance paperwork is present and the file is in order (i.e. includes everything required by the compliance department to review the file/case prior to submission)
- If file returned by compliance should there be an issue, the paraplanner will be expected to rectify the problem in conjunction with the adviser if appropriate
- Once the case is signed off, pass the file over to sales support to submit

Although sales support will submit new business, in the event of a fund switch recommendation, the paraplanner will perform all the above as is relevant, but will also be responsible for effecting the transaction in respect of the fund switch with a member of the sales support team present as a "four eyes" check.

Review

This entails various requirements including:


- Act as a point of contact addressing issues and enquiries from the client or other third parties if required
- Establish and build relationships with clients to develop rapport and trust
- Conduct reviews of client affairs/holdings prior to any review meetings
- Prepare review meeting pack enclosing relevant documentation and research to present to client
- Be proactive and consider opportunities for clients based on their circumstances; such as a plan coming up for review; an updated risk profile assessment is required; ID is out-of-date; tax planning opportunities (e.g. ISA and CGT allowance utilised) etc.

Skills include:


- Understanding of the financial advice process
- Ability to work within defined business process
- Organised and have ability to prioritise and manage workload effectively
- Detailed and accurate with acute attention to detail
- Articulate
- Good interpersonal skills - both written and verbal
- Good IT skills
- Ability to multi-task and prioritise accordingly
- Excellent report writing skills
- Ability to work independently and as part of a team
- Good technical knowledge
- Appropriate level of qualifications to demonstrate understanding of financial planning/advice, with a desire to develop and grow


- Financial Advice
- Financial Services
- Paraplanning
- Client Requirements
- Solutions Provider

  • tax