Paraplanner for an Investment company

The Paraplanner is a specialist role primarily responsible for producing the financial plan (estate liquidity and investment planning) to meet the client’s needs. The Paraplanner needs expertise in risk products and strategies, investment products and strategies, regulation and tax implications. 

In addition, a thorough knowledge of product features, performance, interest rates, cost and benefits for comparative purposes. Research on changes to products, services and strategy options should be regularly undertaken. The Paraplanner should hold a proper authority from the FSP to provide financial support/reports/advice and must operate within the compliance regulations (FAIS Act/ FIC Act) 

The incumbent also requires sufficient client management and sales skill to attend face-to-face client meetings and actively assist the Adviser as required in managing the client relationship.

Networking Relationships

To achieve the objectives of this role, the Paraplanner is dependent on the following internal and/or external networks;

• Support Staff team
• Advisors
• FSP Directors
• Product Providers
• External Associations (referral agreements)

Organisational Environment

Reports To: Directors  & Portfolio Bureau Investments (Pbi). Advice occurs as the  Category I license and Investment Management via Pbi as the Category II license.

Key Accountabilities

Tasks

Develop and Maintain Relationships

• Develop and maintain relationships with key suppliers, particularly fund managers, investment platforms and life companies
• Develop and maintain relationships with clients, as per the client segmentation and service offering
• Develop and maintain relationships with advisors and administration staff
• Attend or contribute towards client meetings as requested by the advisor
• Contribute towards the management of the ongoing client relationship in-line with the sale and service offering, to achieve the desired client retention levels

Marketing research and client data

• Data mining – client and book analysis support per product provider systems as well as internal CRM system Elite Wealth (EW)

Produce financial plans (investment proposals / cash flow scenarios and estate liquidity analysis)

• Obtain and maintain an in-depth knowledge of the EW financial tools and investment planning reports
• Formulate/produce effective financial planning documents, in-line with the strategy as outlined by the adviser, and the client’s needs, objectives and risk tolerance. All documents must meet compliance requirements and the relevant legislation, and comply with the company standard documents, policies and procedures.
• Ensure all research and technical information used by the business in providing advice, is up to date and accurate e.g. supporting information to client review reports
• Customizing of EW report to client/advisor needs

Quarterly Reviews

• Prepare the quarterly reports (for HNW clients) along with the dedicated administrative assistant
• Present the report to the advisor

Education

• Ensure technical knowledge is maintained or expanded. This may be achieved by attendance at seminars and industry functions, further education, and participation in appropriate training. (FPI seminars etc)
• Provide technical training (e.g. legislative changes retirement funds, SARB/SARS rules and general industry regulations impacting on financial planning) as required to all other staff, incl. advisers and staff
• Must have a CFP 

Compliance

• Comply with all reasonable requirements for maintaining adviser status – CFP, RE Exams and CPD points

Client service

• Contribute towards the review reports in conjunction with regulatory changes and general financial services environment. Ensure that the review process and technical aspect is accurate, and that investment strategy is meeting client’s objectives.
• Prepare statement of advice documentation as required (investment proposal, cash flows, etc).
• Contribute towards the review of clients’ risk coverage in conjunction with changes in client circumstances and risk management needs, product offerings available, and changes in life company rates. Ensure client is kept well informed and that all necessary actions are recommended and where necessary undertaken.
• Assist with client enquiries, in-line with the company’s service offer, occasionally liaising with the Fund Manager, Investment Platform or Life Company as necessary.
• Draft and produce client communications as needed.

Key Accountabilities

Tasks

Marketing     and     fund research

• Participation in marketing activities as required, e.g., investment and product mailers to clients
• Draft & produce client communications as needed (e.g. Newsletter)
• Liaise with Boutique Investment Partners (BIP / external investment consultant) with regards to fund research
• Provide ideas/support to advisors with regards to fund performance and general investment research
• EW fund updates e.g. maintain Pbi Fund’s data on system
• Monitor and check correctness of monthly Minimum Disclosure Documents (MDD) and Fund Fact Sheets (FFS) for Pbi solutions with Boutique Collective Investments (MANCO of solutions)
• Daily monitoring of Pbi funds’ NAV prices
• Attending quarterly Investment Committee meetings and executing rebalancing/switch instructions