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The Investment Committee

Recent in-depth research into the role of paraplanners within financial planning/advice firms confirmed that increasingly they are not only sitting at the core of the business but they are taking ever greater responsibility for the financial planning process outside of the client relationships. 87% of paraplanners reported that they have influence in the product selection process.

This evolving business structure is freeing up financial planners/advisers to focus on building client relationships and bringing in new business to the firm. This is helping to create greater efficiencies within advice firms, making them more effective and more profitable as businesses and hence, is the way the market is increasingly heading.

Fundamental to this is the research and recommendation of investments.

Within the research, 77% of the paraplanners surveyed say their firms have investment committees, with over half meeting on a quarterly basis and 23% every month. 34% of paraplanners attend the committee meetings and 6% chair those meetings. 13% of paraplanners report that they have become part of the investment committee within the past two years.

In addition, 70% said their firm either runs an investment panel or has risk-rated portfolios selected in-house.

Forward-thinking investment brands who are engaging with the paraplanning community are already seeing the results in marked recognition of their products and services. Another factor these brands have recognised is that around 30% of paraplanners today say they aim to become the financial planners/advisers of the future.

Professional Paraplanner is offering asset managers the opportunity to rapidly raise their profile with the ever more influential paraplanning community at three seminars across the UK in 2024.

The first event is in London on the 28th February – for more information contact Richard Ley.