Competition Shortlist

We are delighted to have been selected as one of the 5 finalists in the Silicon Beach business start up competition.  Here’s what Silicon Beach had to say;

“Precision Paraplanning “provide high quality outsourced paraplanning solutions to Financial Advisers.”

Compared to some of our wackier entries, Precision Paraplanning have a solid, serious business plan with a clear vision moving forward. Their entry really impressed our judges as a potential success story in the future.”

Read the full article here, http://bit.ly/1jFcBCY

I am currently preparing my pitch for the final of the competition on the 22nd April and will keep you updated with the outcome

How!

An eventful day spent at the Paraplanners PowWow last Thursday. A beautiful venue in the Northants countryside staged in a large wigwam and pitched as the first of its kind “unconference” conference for Paraplanners. It’s not often you get to sit round a roaring campfire discussing suitability reports, due diligence and other paraplanning issues with like-minded peers.

Paraplanners Powwow

The most interesting part of the day for me, was the platform due diligence session, facilitated by Emma Napier of the Platforum. The clear message of the session was, the concerns that the FCA have around platform due diligence are around the process that firms adopt – it’s not just about collating due diligence docs from a number of providers, it’s all about establishing your firms criteria and making the process relevant to your firms requirements.

There was also a noticeable difference between the world of outsourced and in-house paraplanning.  It seems that there is still no clearly defined role or definition for a Paraplanner – some are very involved in the admin side of things – whilst others are only involved in the technical side. I can see that if you employed a Paraplanner you would probably pass them as much of the admin side of things as you could on top of the technical aspects to keep them busy but it does raise the question of cost efficiency. With Paraplanner salaries increasing, I can understand why many of my own clients prefer to employ additional administration staff for the small stuff and outsource the rest to keep their costs down.

Welcome to the PP blog

Hello all, I’m delighted to announce the launch of the new and improved Precision Paraplanning website and blog where I hope to be able to share the occasional useful insight into the wonderful world of paraplanning and financial advice.

Precision Paraplanning will shortly be celebrating our 1st birthday and wow, what a first year it has been! From one client last November to double figures in just 10 months, the interest in outsourced paraplanning continues to grow as more and more firms realise the cost savings that a good paraplanning service can bring to their business.

I regularly attend industry and provider events, firstly to take a break from my desk and the endless stream of research projects and suitability reports, and secondly, it’s a great way to learn and meet new people. The interest in my business at these events never ceases to amaze me, along with a keen interest from advisers as to how other adviser firms are working….everyone works so differently after all. At a recent event I had an interesting discussion on the subject of due diligence. One adviser asked me how my directly authorised clients evidence their due diligence processes for the FCA, this sparked a debate on the table over what is actually required…the consensus was that you must have an evidenced and ongoing process to maintain independence but this can be a time consuming and potentially arduous task, even with the many tools available to facilitate such research.

Off the back of this discussion and through chatting to my regular clients I have decided to launch a due diligence service to assist those firms who maybe don’t have a steel plated process in place to evidence their platform and DFM due diligence…..please take a look at the due diligence page on my website for further details or contact me directly should this be of interest.

So, it seems today with the change in weather that the heady days of Summer are potentially behind us and we are on our way into Autumn….but don’t let the change in weather dampen your mood, I will be back in a few weeks with an update from the Paraplanners Pow Wow, an “unconference” event for the nations hard working paraplanning community.