The purpose of a Paraplanner is to provide essential technical and administrative support to financial advisers, helping to create accurate, compliant, and effective financial plans for clients.

The Paraplanner will handle much of the behind-the-scenes work, allowing advisers to focus on client relationships and strategic advice.

Paraplanners conduct in-depth research on financial products, tax implications, investment strategies, and other relevant factors to support the financial adviser's recommendations.  They help to prepare detailed financial plans, including cash flow analysis, retirement projections, investment strategies, and protection solutions, ensuring all advice is tailored to the client's specific needs and objectives.

At Verso Wealth Management paraplanners help simplify complex financial concepts for advisers, ensuring clear communication and understanding between the client and the adviser.

Key Responsibilities

Research and Analysis
• Conduct in-depth research on financial products (e.g., pensions, investments, insurance) to determine the most suitable options for a client's financial goals.
• Analyse market trends, fund performance, and investment strategies to support the adviser’s recommendations.
• Perform cash flow analysis, tax planning, retirement projections, and risk assessments to provide data for financial planning.
• Use financial planning tools to create and update financial forecasts, plan structures, and manage client data.
• Accurately input client data into financial planning systems, ensuring that information is up to date and aligned with the adviser’s recommendations.
• Work with advisers to update plans based on new client information or changes in market conditions.

Suitability Reports

• Draft detailed suitability reports that explain why specific financial products or strategies are recommended to clients, ensuring they align with the client's objectives, needs, and risk profile.
• Ensure that all reports and advice adhere to regulatory standards, documenting the rationale for each recommendation.
• Prepare financial plans that may include retirement planning, investment strategies, tax-efficient structures, estate planning, and protection strategies, all tailored to the client's needs.
• Use financial planning software to model various scenarios, helping the adviser to explain the potential outcomes of different strategies to clients.

Mentorship and Development
• Provide guidance and mentorship where applicable to team members and colleagues, sharing expertise to enhance team performance and knowledge.
• Act as a resource for technical queries, where applicable helping the understanding of compliance and regulatory requirements.

Suitability Report Checking
• Where applicable and as required, review reports prepared by the team and ensure the accuracy, quality, compliance of suitability reports.
• Conduct assessments to confirm that reports align with clients' objectives, regulatory standards, and internal policies.
• As required, provide constructive feedback to team members to maintain high standards and improve reporting processes.

Regulatory Compliance and Risk Management
• Ensure that all financial advice, documents, and reports comply with relevant regulations, and anti-money laundering requirements.
• Maintain accurate records of client files and ensure they are audit-ready, meeting both internal and external regulatory standards.
• Identify potential compliance risks and ensure that financial recommendations are within regulatory limits.

Advisers and Client Support
• Collaborate with financial advisers to provide technical support, answer queries, and ensure all recommendations are thoroughly researched and justified.
• Occasionally communicate with clients to clarify financial details or follow up on outstanding information.
• Assist client services support where information is missing or assist with their understanding of requirements.
• Where necessary co-ordinate with providers to gather required documents or information.
• Assist in completing and submitting application forms for complex cases where required.

Continuous Learning and Development
• Stay updated on changes in financial regulations, products, tax laws, and industry best practices to provide up-to-date and relevant support to advisers.
• Pursue ongoing education and qualifications to improve technical expertise and compliance knowledge.

Experience
• Experience in assisting financial advisers preparing cash flow models, and drafting personalised financial plans based on client needs.
• Hands-on experience researching and comparing financial products, analysing investment options, and understanding tax implications to support adviser recommendations.
• Client Interaction experience
• Knowledge of Regulatory Requirements
• Extensive use of financial planning software

Qualifications
• Level 4 or equivalent – working towards level 6

Technical Knowledge
• To succeed in this role, you will have good technical knowledge and a deep understanding of financial products and compliance regulations.