I was wondering if anybody knew of outsourced paraplanning companies who would consider taking on a paraplanner on a temporary contract basis i.e. 3/6/9/12 month contracts or on a case by case basis?

I'm keen to have an initial private conversation with any companies who may offer this type of work and explain my current situation.

Thanks.

Been using Harvest for going on 9 years. They've been acquired recently. Result: my c$150 annual cost is forecast (because of feature based pricing) to be increasing by 2,960% to $4,440. They're offering a first year discount of 86%, reducing that increase to a mere 314%.

So for anyone using time tracking software that isn't Harvest (shortly to be, I imagine, everyone!) what are you using and how do you find it?

Thanks in advance to anyone who’s up for helping steer something genuinely useful for our community.

I’m hoping to get some advice from those already working in outsourced paraplanning.

A bit of background: I’ve spent 3 years working in business development within financial planning (supporting IFAs), and I’m currently one exam away from completing the Level 4 Diploma (due to finish next month).

My longer term goal is to build a career in outsourced paraplanning. I’m very aware that being “qualified on paper” is very different from being technically competent.

The challenge I’m facing is that my current role doesn’t expose me to the technical paraplanning/admin side (research, cashflow modelling, suitability reports, pension/investment analysis, compliance support, etc.), so I’m trying to find the most realistic and respected way to bridge that gap.

I’d really appreciate views on:
• The best routes to gain genuine paraplanning experience without leaving full-time employment immediately
• Whether paid training / mentoring arrangements with paraplanning firms are common or viable
• How valuable software certifications (e.g. FE Analytics, Voyant, CashCalc) are in lieu of experience
• Whether building a portfolio of anonymised sample work is something firms actually value
• Any advice on what you wish you’d learned earlier when starting out in paraplanning

Any insight from those who’ve made the transition, or who work with newer paraplanners, would be hugely appreciated.

Thanks in advance.
Adam

I've been employed as a Paraplanner for just over 10 years now at a few Regional IFA firms. I'm looking to make the switch over to an outsourced firm as I would like some more flexibility in my life. I've attained a vast amount of knowledge over the last 10 years and I’m now keen to apply this in a supportive, collaborative environment where I can focus on delivering high-quality work without the pressures often experienced in a traditional advisory setting.

I’m particularly interested in opportunities that allow a degree of remote working and a healthy work-life balance. If anyone has experience with outsourced firms or knows of opportunities that fit this profile, I’d love to hear from you.

Reserve your place here.

I’m in the process of setting up my own outsourced paraplanning business and am looking to start by supporting other outsourced paraplanners on a freelance basis.

If anyone currently has cases they could use some extra help with, I’d be happy to discuss assisting on a flexible basis. This would be a great way for me to get used to working within the outsourced paraplanning setup, while also providing support to others in the paraplanning community.

Please feel free to drop me a message if you’d like to explore how I could help with your workload.

Thanks,
Ellie

So experience in these would be great.

When using freelancers I operate on a case-by case basis, sharing my fee.

If you feel like this suits you, contact me at heidi@absoluteparaplanning.co.uk

I recently made the move to become a self-employed paraplanner. I am finding obtaining clients much harder than I anticipated (naive on my part). Having spoken to a couple of outsourced paraplanners it sounds very much like this area is becoming very competitive. Many firms are hiring inhouse, the demographic is older and it seems there are few new clients up for grabs. Am I all doom and gloom and suffering with a touch of imposter syndrome or is it really tough out there at the minute?

We have had some capacity free up and we are looking for additional paraplanning service work. If you have any requirements, please let us know by emailing josh@outsourcedparaplanner.co.uk

Many thanks,

www.outsourcedparaplanner.co.uk

I have 9 years of experience in financial services and hold level 4 DipPFS . I was a paraplanner for an outsourced firm and then in 2020, due to several circumstances, went down the IFA route.

Having done 4 years as an IFA, I decided it wasn't where my strengths lay and the workload/routine didn't fit around family life.

In a bid to refocus and rebalance, I left my role as an IFA this year.

I'm interested to see what the freelance paraplanning route can look like and find out from you lovely people where and how I could/should be looking for work?

I would appreciate any thoughts, support and guidance from the community here.

Tory

New to the outsourced paraplanning space just on here looking for tips on acquiring new clients. What did you guys do to source good decent clients when you started out? I have a few clients but the problem is getting regular work from some of them. Any tips/guidance/advice would be appreciated from those more experienced ones out there

Thanks
Nitu

As an experienced paraplanner, I have a strong background in retirement planning, investment management and tax planning. I am adept at conducting research, preparing comprehensive reports, and supporting advisers in providing high-quality advice to their clients. I have worked with a number of adviser firms on both an employed and self-employed basis over the years

Thanks for reading!

I am a freelance paraplanner looking to take on some new clients. Due to the sale of an adviser form and a retiring adviser, I now have some scope for additional work.

Please contact me for further information.

Thanks for your time.

I have read lots of past threads on here which have been very useful but is there any advice you can give me on setting up and any of those that have 'gone for it' in the last year or so, what have your experiences been?

I'm trying to keep things small and grow steadily - so far I have just bought a 2nd hand laptop to do all of my research on and have looked at AI to generate a skeleton Business plan (to keep me focused/on track) and website.

I also put together a survey monkey questionnaire to send to advisers to ascertain what they really want these days, but I'm reading there are better ways of acquiring clients rather than cold-calling to get them to complete!

What should I be making sure is on that business plan?

I would be very grateful to hear from you....

I was wondering if anyone has a check list they use for checking a case, or a compliance checklist when checking from a compliance point of view?

Thanks
Jolene

Thank you!

As I am now on the cusp of becoming chartered and well versed in writing bespoke reports for a variety of clients I'm getting started as a freelance paraplanner. I have a a few general questions I'm hoping someone with experience can help me with.

1) My first question is in relation to fees: I'd like to set myself up on a pay-as-you-go basis without a retainer to offer clients flexibility to pay as business arises (rather than rolling on and potentially losing any retainer paid for up front). Do you find clients are generally more receptive to a flat fee basis than a pay-per-hour basis?

2) My intention is to ask clients to provide the following in order to build a report:
- Their template letter, relative to the advice provided
- Their Factfind
- Their ATR
- A checklist including their recommendations, notes and softfacts obtained during the meeting
- Illustrations in relation to their recommendation
Of course this will vary from case to case but generally speaking would these be the essential requirements to provide a report?

3) Although clients will be providing access to any software they require in their own reports, I believe it's wise to have access to an in-house suite. having considered the usual suspects I'm looking to obtain licenses for the following:
- SelectaPension
- Synaptic
- FE analytics
- Voyant (or Moneyscope)
In the opinion of experienced outsourced Paraplanners, are any of these surplus to requirement when starting out? Admittedly; I've had not dealings with Selectapension or Synaptics previously! It would be great to know of your experience with these programs and if outputs produced by these programs are included in all of your reports.

Apologies for the lengthy message. Looking forward to getting to know you all and potentially working with you in the future!

I am new to freelancing and I have been asked to supply details of my professional indemnity insurance for a new contract.

I have tried to get quotes online and I have called a couple of insurance brokers but it is proving a lot harder than I first anticipated.

Can anyone provide any recommendations or guidance of where I can purchase the insurance?

Many thanks in advance!

I'm seeking legal assistance with creating a new Terms of Business for my Paraplanning business.

Would anyone be willing to share how much they paid for creating a Terms of Business using a Solicitor or any guidance on what would be deemed an appropriate cost to be quoted.

Kind regards
Sinead