Paraplanners bolster broker businesses, says Bradbury Hamilton

Laura Stavro-Beauchamp
20-Aug-2008
Chartered financial planner firm Bradbury Hamilton is raving about the benefits of including paraplanners in the daily activities of advice firms.
Bradbury is calling for more firms to incorporate the qualified financial support staff into the daily running of businesses to keep the advice market healthy and brokers in profit.

Sheriar Bradbury, managing director of Bradbury Hamilton, says paraplanners are instrumental to the success of any professional firm however many IFAs regard them as a cost too far.

He says the reality is that they free advisers up to see clients and develop the business.

Bradbury says: “An experienced paraplanner can take on other roles such as running investment review services and managing junior staff, all in all, they are seriously underutilised.

“Particularly when you consider that in a Treating Customers Fairly environment highly qualified paraplanners can often ensure the firm’s compliance.”

Bradbury says now is the time as new business levels for many brokers firms have fallen this year and so advisers should be devoting their time to sniffing out new business not writing reports or dealing with other areas that paraplanners are trained for.

He adds: “The financial advice process in the UK is going through considerable change and the winning proposition for successful firms of the future will mean providing the client with ongoing service and quality advice from well qualified advisers who only advise, backed up by a specialist team."

“Firms will be able to do this through the prudent use of paraplanners. Those that don’t may struggle to survive.”