I'm looking for some career advice!

I made a jump into financial planning in mid 2023 to pursue a career in paraplanning. I had a strong start, securing a trainee paraplanner role at an SJP practice with two R0 exams under my belt and several years of experience in financial services. It gave me a closer look at the paraplanner role and confirmed my feeling that this is the right job for me.

Unfortunately, after a year, the company went downhill, and I was made redundant. I managed to get an IFA administrator role in a growing wealth management firm. Although I was initially disappointed not to continue in paraplanning, I saw it was an opportunity to learn about the IFA world and gain experience that I didn't have at SJP.

I passed the final R0 exam last April and am now fully qualified; however, my company, despite being very supportive when I asked to move to paraplanning, continues to keep me in the admin role. I feel like they are prioritising hiring experienced paraplanners instead of training someone internal for the role.

I'm starting to feel a bit stuck. I know there are still many things I could learn in the admin role, but I'm eager to get some real paraplanning work. I’m thinking about looking for a new firm to help me take the next step. But I’ve noticed 'Trainee Paraplanner' roles are pretty rare.

From your experience, do you think it’s realistic to apply for Paraplanner roles with a full Diploma but mostly Admin experience? I’m really keen to avoid 'admin-hopping' and want to make sure my next move is the right one for my career.

Any advice or insights would be much appreciated!

We are currently reviewing all our suitability letters etc to try and streamline and ensure we are still including what we need. One area which has cropped up whilst doing this is when a client calls up to request an unplanned withdrawal from their pension.

It appears our process is
1. Client calls and requests withdrawal.
2. Client provides letter to us confirming he/she wishes to make a withdrawal from pension and neither requires nor wishes advice.
3. We call and process withdrawal.
4. End.

This does not seem sufficient and reading a compliance email received the other day. I am about to read through the COBS 19.7 Retirement risk warnings.

Can I ask what other firms use as a process?

I'm a final-year business student set to graduate this summer, and I'm keen to start a career in Financial Planning. I recently had a conversation with (what seems to be) a well-regarded recruiter in my area who gave me a broad overview of the industry, including typical career progression and entry-level opportunities. However, I’m still unclear on the specific experience or qualifications required to land even an entry-level Administrator position.

Many of the Administrator roles I’ve come across seem to ask for 1–2 years of relevant experience—something I currently lack as a new graduate. My plan is to begin in an Administrator role to build up my industry experience while working towards relevant qualifications, with the goal of eventually moving into a paraplanning role. Is this a smart/effective plan to pursue towards becoming a paraplanner?

Is it realistic for a graduate to step directly into an Administrator position with no experience? If so, what’s the most effective way to find these opportunities? And if not, what steps could I take to make myself a strong candidate?

Any advice or insight would be greatly appreciated!

I have applied for a job as a trainee paraplanner and I had the interview and they have asked me to produce a suitability report for a mr and mrs example who have received an inheritance.

I have done the calculations part of the report, however I don't actually know how to present it. I don't suppose some has a sample of a suitability report that I can follow the structure of. I have found a writing guide on the personal finance society, but if anyone has an example of a report that I could see to see the format it would be really useful.

Thank you

I've spent some time browsing the forum and this is my first post. This place seems to be made up of a friendly bunch, and any help or suggestions would be greatly appreciated!

For some background, I'm mid thirties. Originally studied accounting and finance at uni, and completed a graduate scheme in accounting for a Big 4 firm. Wasn't quite for me and I fell into working as a self-employed financial services contractor for 8/9 years.

Wanting to move out of contracting and start a new career, after much research I believe that paraplanning would be a suitable career choice. I've started studying for my DipPFS and I've passed my R01. I know that I'll have to start in an administrative role and progress from there.

However, I don't know anybody working in the field, and would appreciate any further information in relation to the main queries on my mind. Namely:

• Is paraplanning still a good career choice in terms of both current and future expected demand?
• How will AI impact paraplanning, and if could potentially negatively impact demand?
• Does demand for paraplanners decline during economic downturns?
• Once Level 4 qualified and with sufficient experience, is c. £45k salary achievable (NW)?
• Would this be a good career choice for introverts?
• Out of interest, what other careers could gaining Level 4/DipPFS lead to? (such as financial planning, compliance etc)
• I've noticed a lack of available administrative roles without previous related IFA/financial planning administrative experience etc - any tips for getting one's foot in the door?

And, anything else that I should be aware of or that would be useful for a prospective career changer would be very much appreciated.

Thank you

Newbie here! I am looking for a way into the world of paraplanning! As someone without the necessary experience in the field, my thinking is that I need to start in an administrator/ trainee paraplanner role with a view to doing exams and progressing inhouse to a paraplanner role. I was wondering if anyone is aware of current vacancies for financial services administrator roles (with opportunity to train as paraplanner)? Or if you have any tips on specific websites, firms that have previously offered similar roles or just resources in general, I would love to hear about it.

To offer a bit of background on myself; I am based In Southampton so looking for roles in the wider Southampton, Bournemouth, Winchester and Fareham area. I have previously worked as an administrator for OMW/Quilter, so I have a bit of background in financial services but not necessarily the paraplanning aspect of it. I have a Master's degree in Biotechnology, so a bit of a change of fields for me but I learn quicker on the job which is I am looking to combine hands on experience with studying for the necessary qualifications.

I am really looking forward to hearing your thoughts and thank you so much for any advice.

Cheers!

Hope everyone is well

I have recently begun working as a PA to a financial advisor, with the view i will train to become a paraplanner.

I have a degree in business management, but no real experience within Financial Services.

Can some one please confirm if they feel this would be the correct course for me

https://www.cii.co.uk/media/10126333/qspec-certificate-in-paraplanning.pdf

Also with this

Can anyone shed any light on the 'one off costs'

Standard Qualification Fee £770.00
Package Fee £188.00
Associated Learner Fees
Annual
Non-Mandatory Annual Membership £80.00 per annum
(Assumes entry level membership)

One off
Digital enrolment £497.00
Digital and printed enrolment £595.00
Digital only enrolment plus £570.90
Digital and printed enrolment plus £639.78
Key facts booklet (Printed and Digital) £108.00
Key facts booklet (Digital Only) £90.00
Knowledge checker £90.00
E-learn £127.50
Audio revision £127.50
Study text update (Digital only) £168.00
Study text update (Printed and Digital) £201.00

Is it a requirement to purchase all of these, or do you just need to select a few.

Any help would be well received

Kind regards

I am looking at changing roles and becoming a paraplanner.

I have been working in client facing roles for the last 11 years with a major high street bank. But unfortunately I was made redundant at the beginning of November.

My most recent role was “financial planning manager” offering advice to clients on a restricted range of products.

I am (almost) level 4 qualified - R06 result expected on 20th November!

I ended up in the advisor position through progression and taking opportunities that were available through the company I worked for. I started as a cashier, then personal banker, then relationship manager (where I began studying for the R0 exams) and then financial planning manager. It was never my long term ambition to be an advisor, I just had a very good reputation, and was given opportunities to study and progress.

Redundancy has given me the space and time to reflect on my skills, interests, personality and consider the aspects of my work that I most enjoyed.

I find the technical side of the role much more interesting. I really enjoyed writing reports and solving problems to find a solution that matched the client’s objectives. I think this work suits my personality type and I think I would enjoy a career in paraplanning in its own right.

The problem that I think I will face is that I have never worked in an IFA firm, or in a paraplanning role, and the advice I have been giving has been restricted. I would need some training and support, but I think I could add a lot of value and I would bring a unique perspective to the role having been on the client facing side for many years.

I would appreciate any advice on how to approach this move.

Also with time on my hands I am considering studying another qualification. Is J09 (paraplanning) worth it? Or would I be better starting a level 6 qualification, and if so which one?

Many thanks in advance 🙂

At the end of the month, we're running an online assembly with a panel of experts answering questions on how to get started in paraplanning.

We'd love to have one or two people who are in this position i.e. just starting out, looking to get a foot on the ladder, to join in, joining the panel to ask questions and share their experiences.

It's a great opportunity to ask the questions that matter to you but also a nice way of showcasing your enthusiasm. If y you'd like to find out more email us at hello@paraplannersassembly.co.uk

Of course, if you'd prefer not to participate but still want to watch, that's fine too :-) We'll share details soon in one of our emails.

Thanks

I'm a 37 year old professional (not financial services) and, whilst successful in my field, I find my work ultimately unfulfilling.

I have been thinking of moving into paraplanning (perhaps lifestyle financial planning later on) for a fair while now. I have always been interested in personal finance and I've spent a lot of commuting time listening to Meaningful Money, Informed Choice, Nextgen planners and the like. Ultimately, I would love to help people. I believe it would motivate me hugely and I would take a great deal of pleasure from my work.

I understand that one possible route in would be to complete CII level 4 diploma under my own steam and apply for vacancies. I am fine with this as it shows a bit of willing.

What would be realistic after completing level 4? Is it possible to go straight into paraplanning? I have heard a lot about paraplanning and financial planning in general being areas where demand far exceeds supply and you would think this would manifest itself in plenty of job vacancies. I don't necessarily see them. Indeed there are a fairly small number of opportunities on the nextgen planners jobs board. What are your thoughts on this?

Thank you so much for any support/advice you may offer me.

Cheers

I feel I always come here with what are basic questions... but if you don't know you don't know! I am being tasked with our annual reviews and am still very much learning. We are currently using Genovo to assist with the report writing. I am thoroughly confused with the charges. I am looking specifically at AVIVA Platform plans at the moment. I realise some of these charges are the same as each other but just a different name, that some perhaps incorporate another.... I suppose I am looking for an idiots guide to charges!

Genovo fields are:-
Product Charge ( i had previously taken this from an FE Analytics portfolio report and used Portfolio expenses + Ex Ante costs)
Platform Service Charge
Adviser Service Charge
Investment Management Charge
Transaction Charge
Other
Aggregated Total Recurring Charge

From what I can see from AVIVA paperwork

The AVIVA charge (assume this to be platform service charge)
Discretionary Management Charge for Model Portfolio
OCF/TER/Annual Fund Charges for each fund in the portfolio
Initial Fund Charge
Ongoing Adviser Charge

Also
Weighted Average %

Am I overcomplicating this???? We were looking to include a summary table in the report for the ex ante charges and a signpost to the AVIVA plans and charges document for Ex post charges..

I'm new to this .. i am looking to do RO4 in December/January and am wondering if anyone would be kind enough to let me have a look at some revision aids and or materials?

I havent booked it yet, but would like to take a look at the content if possible.

Also open to study buddy offers

Thanks xo

And/or a study partner?

For anyone who is new to paraplanning, financial planning or just our profession in general, firstly congrats on choosing a fab career and secondly, congrats on being a super smart cookie and joining the Big Tent.

This is the best place there is to get help on every aspect of paraplanning, from when your just starting out and aren't sure of where to go for the best resources or support to get you started, to those who have been at it a while and are looking for more techy help.

One of the things out there to help newcomers to the paraplanning party is the Personal Finance Society's Paraplanner Pathways. This was put together by their Paraplanner Panel and is a useful little guide to help you get going on your paraplanning journey. The links can be found on the Paraplanners Powwow website here:

https://paraplannerspowwow.co.uk/paraplanner-pathway/

The Panel are working on more stuff too so keep your eyes peeled for updates.

Welcome to the gang and if you need help, just give anyone here a holler!

An Independent Financial Adviser friend of mine has kindly offered to help me with a possible Paraplanner role as she sees me as a good fit. We are London based.
I am coming from a customer service role as a very different career into Paraplanning. I do not have any qualifications yet, though I do help people with basic financial research and supportive resources.
I have taken an active interest in my own investments and I’m motivated to now help others who are coming from debt towards financial independence.
My friend has invited me to her office in a couple of weeks to meet the rest of her team of fellow IFAs.
I am unfamiliar with much of the jargon and the types of analytic software that gets referenced quite a lot.
Would anyone with Paraplanning experience be willing to chat or to share for a while to give me some perspective on what the role means to them and how they have found it?
Any tips or advice would be most welcome too.
Thank you good people!