What do paraplanners do?
There has been quite a bit of debate around what paraplanners do recently and I'm going to be writing more on this in the future. In some cases people see the role as simply providing reports after a sale has been made by an IFA. Report writing can form part of the role but the real value in many cases comes well before any advice has been given.
These tweets posted by Dave Lamb (disclaimer: a client of ours) really capture this very well. Clearly their PI insurers can also see the value of having another, qualified and expereinced person involved in the advice process. Thanks Dave.
Wow. Despite increased revenue our PI insurance is down this year following actually meeting underwriter who now understand our business...— Dave Lamb (@lotusdave) September 12, 2012
...and underwriter said they couldn't care less if we are restricted or independent next year, it's the systems and processes that count.— Dave Lamb (@lotusdave) September 12, 2012