How do you feel about the 'Paraplanning Standard' - share your thoughts here

Claire Goodwin

There's been so much talk about a specific paraplanning standard of late, I want to know what everyone else thinks. I know this was a hot topic at the main Powwow but I missed out on that so I'd like to hear what you think too. 

I published a blog on this yesterday to share my thoughts: https://medium.com/@theactualclaire/whos-standard-is-it-anyway-ce26285518ee#.bpt0ihjec

Really interested to see what you all have to say. Thanks, Claire  

ElsaOrdonezG

Interesting article Claire.... are we re-inventing the wheel? 

As you said, there are as many types of paraplanners as there are Financial Practices,  and this makes it soooo difficult to benchmark how well we do. 

I work in a small team which means sometimes demonstrating high standards is difficult, as I have no-one to compare to. If there was a standard I can use it as the benchmark.

Let me give you an example... If i was to look at changing jobs, there is no way of demonstrating how good (or not so good) I am, other than the exams and maybe references. 

We all know exams are a ticking box exercise, they do not not define who we are or how well we do our job; they can not on their own demonstrate the value a good paraplanner can ad to an organisation. I feel a 'Paraplanning Standard' might well help us to achieve that. It will add value and in a way respect to what we do. 

benjaminfabi

There are a number of existing options, including the CISI APP, CII Cert PFS (paraplanning) and the Government apprenticeship standard. These all to a certain extent provide a framework for what is a paraplanner. 

The problem is that employers, who are not generally paraplanners, don't have a fixed framework for the role. They also want employees who will do what they want, which might not match what we agree is a paraplanner. These employees will still usually be called paraplanners. 

There will also be a lot of discussion and compromise on the subject of qualifications. I, for example, would not try and attain certification to a standard that didn't include a recognised level 4 qualification (that would meet the requirements of CF30) as a mandatory item. I am definitely a better paraplanner because of the exams I have taken. 

These are a couple of issues of many to be worked through, if it is viable. 

Claire Goodwin

Thanks @ElsaOrdonezG & @benjaminfabi for your responses. Great points.