Outsourced paraplanning - best way to gain real paraplanning experience independently
Adam_H
Member
Hi all,
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
Comments
@Adam_H I'm sure others will share their views but it might be useful to join this Assembly later this month: https://paraplannersassembly.co.uk/event/an-informal-assembly-for-outsourced-paraplanners-february-2026/
It's a camera-on, interactive gathering so you can ask your question of the outsourced paraplanners who turn up.
Hi Adam
11 years as an employed outsourced paraplanner here, 12 years previous paraplanning experience before that in firms of various sizes. I worked in business development with a provider before making the move into paraplanning in 2002.
I would say that the most valuable learning experiences I got were in the early years of working as an in-house paraplanner in an advice firm. I was lucky enough to be given the opportunity to cut my teeth over 4 years in a small company, so I got to know the clients very well. Outsourcers will rarely have contact with the end customer, but I think exepriencing that human side is vital when you are learning. You learn on the job and, through experience, you develop that magic wee spidey sense that paraplanners have. You begin to recognise when something feels a bit off, to spot issues before they arise, learn about all of the weird and wonderful legacy products we have to deal with and to identify duff provider data. All of that reduces risk for your employer, the adviser and most importantly improves client outcomes. We don't know what we don't know, but the good paraplanners I know are skilled at recall. Even if they can't remember all the details, they have seen things before and can put up that little red flag that says 'there's more to this'.
If you can bring good technical knowledge, experience of different types of advice and that special paraplanner spidey sense into the outsourced world, that's where you can really add value for your adviser clients. Mix that with the rapport that you almost certainly have already in your business development role and you'll be on to a winner, I am sure.
Others will be able to answer the other questions far better than me, but if I were starting out again with the benefit of hindisght, I wouldn't do anything differently. It may not necessarily take me 12 years before I found outsourcing was for me, but I don't think I would be half as good at my job today without the experiences I gained in-house.
Hope that helps. Good luck with the final part of your Diploma.
Hi Colin,
That’s a great insight, especially around the in-house experience and developing that sense. I can see how being close to clients early on really sharpens your judgement.
Really appreciate you sharing your perspective, it’s helpful hearing it from someone who’s done both sides of the fence.
Thanks again, and much appreciated.
I think you can learn a lot as an in-house Paraplanner, but I’d say my time as an Outsourced Paraplanner has given me more scope for how different everyone’s processes are. So it’s like you’re propelled forward more than in one box as an employed Paraplanner for one firm.
I worked in pensions for a long time and that exposure really helped too.
I worked for two different firms when I was an in-house Paraplanner and that gave me different experience and was helpful.
I think going to events specifically for Paraplanning can be really helpful such as the Big Day Out. There are also a lot of other events that would be good so have a search to see what resonates.
Keeping up with the latest webinars helps with CPD.
Everyone raves about Caro’s training sessions on suitability report writing so it’s worth getting in touch with her at Sparrow Solutions.
If you’d like to have a chat more about what experience you can get feel free to get in touch with me at leanne@pivotalparaplanning.com.
Hi Adam,
I have only ever worked in outsourcing but I was lucky that I had someone who could teach me the ropes and worked with me to develop my skills. I think there is a lot to be said for being thrown in the deep end with outsourcing but maybe through joining an outsourced firm so that you are still employed and have that stability, but you are learning the skills needed to be the best outsourced paraplanner.
I would definately recommed trying to find a mentor via the several schemes out there - The Paraplanner Club, the PFS have a mentoring scheme or just even finding someone in the community who will be able to help and guide you.
Like Leanne, I am happy to have a chat if you want - just drop me a message at hannah@corefinancialuk.com
I would echo what Colin said. I have been in the outsourced world for just under three years and was an in house employed paraplanner for around 16 years before that. The experience gained in house is invaluable in terms of developing the skills you need but also getting the feel for the issues that crop up for advisers on a day to day basis that paraplanners can assist with outside of research and report writing.
I worked for directly authorised firms and really benefited from that I think. There are some great firms that are part of larger Networks but they tend to use heavily templated report formats and have relatively rigid compliance frameworks. Nothing wrong with either but when I was starting out I benefited from needing to write reports from scratch and having direct access to in house compliance to talk cases through etc. For me personally that gave a broader understanding and good grounding in Paraplanning.
There is a brilliant and supportive community of paraplanners (in house and outsourced) and I would say definitely get involved with that and attend as much as you can in terms of training/seminars. A lot of it is free and not only do you learn it is a great opportunity to meet other paraplanners.
Best of luck with the diploma
Sam