Locum Arrangement

MikeM

Hi, I'm new to this forum so will introduce myself first.  My name is Mike Malkiewicz and I run my own paraplanning business Clear Paraplanning Limited which is based in Peterborough.  My clients are spread over the UK and are both network members and directly authorised.  I carry out a wide range of financial services activities for my clients ranging from basic suitability report writing to helping set up newly directly authorised advisers and almost everything in between.

As a one man business, I am looking to form a reciprocal locum arrangement with another one - person business in order that we may provide our clients with a back up service in the event of long term illness or worse (not holiday relief).  I would be happy to hear from anyone who is interested in providing a similar back up service for their clients.

parawhat

Hi Mike

I'm a one man paraplanning business too. I understand the principle of wanting to have a locum arrangement in place, but how would it work in practice if either party had to actually use it? For instance, I couldn't see myself being able to be able to pick up another paraplanners workload for any length of time without having to either let down my clients, the locums clients, or outsource to another party. Wouldn't a larger paraplanning outfit fit the bill better?

Cheers

Jonny

richallum

This is an interesting subject. How would it work from data protection?

MikeM

Jonny, 

You have hit the nail on the head when you say you would not be able to sustain the workload for any length of time.  The object is to provide each other's clients with an immediate but temporary solution following an unforseen disaster.  A locum is only there to buy them time while they put into place more permanent arrangements.

Mike

MikeM

Richard,

Do you forsee data protection issues with this arrangement?  If so, please share your insight.

My understanding is that provided both advisers and paraplanners are registered with ICO and work along ICO guidelines then no data protection issues would arise.    Small adviser businesses have been running locum arrangements with each other for years.

Mike

richallum

@MikeM My thought was along the lines of agreeing data sharing and disclosure with the adviser client. Your TOB may say that you can share data with anyone you decide or it may not but I think you'd need to cover this off to avoid any issues.  Have you checked they will hold the data securely?  Where will it be held? Who will they be able to share it with?  What happens if you end your locum agreement.  What is your plan if there's a dat breach etc

MikeM

Clear Paraplanning Limited will not be sharing any data with the locum. If an emergency arises where there is business in process, the adviser will contact the locum and arrange to send the paraplanning instructions to them.  The locum will start this piece of business as a new case using information provided by the adviser.  Any client data held by Clear Paraplanning in respect of this case will be deleted in accordance with Clear Paraplanning's existing data protection policy.  Locum Agreements can be altered by mutual agreement or ended by either party on tendering an agreed period of notice.

richallum

In that case I'd imagine the locum will need to set up TOB with the adviser before proceeding and you'll be out of the picture.  In that case IMO it's more of a qualified introduction to a back up service rather than a locum. Still a good idea though.

MikeM

Yes, perhaps locum was the wrong label but the only one I could think of at the time.  So - anyone out there fancy entering into a REciprocal Qualified Introduction arrangEMent with me?  Hmm... sounds a bit final, but it is what it is :-) 

richallum

have you tried apporaching people direct on paraplanner directory?  There's quite a few on there in same posiiton as you.