Overview
Quality paraplanning means more than just producing advice documents. It means producing a standard of work consistently throughout the year.
Every paraplanner we allocate has demonstrated proven capability in Australian financial services with training aligned to ASIC and AFSL expectations.
We often get requests from clients to combine both admin and paraplanning tasks together. While we can facilitate a blended role, it is likely to affect the quality of paraplanning outcomes long-term. Hence this is something we do not suggest unless the paraplanning work is incidental or less than 25% of the staff member's time. By splitting up the job duties into seprate designations we can better ensure consistent and high-quality outcomes.
Projection Modelling
- Prepare forward-looking financial models to support the advice strategy, showing potential client outcomes under various scenarios.
- Develop cash flow and retirement projections based on current financial position.
- Compare “current vs recommended vs alternative” strategies across key metrics such as net wealth, retirement income, and investment outcomes.
- Use licensed financial planning software to model superannuation, debt, tax, contributions, and Centrelink scenarios.
- Present findings in client-ready formats that integrate with SoAs or review documents.
Insurance Modelling
- Conduct comprehensive insurance needs analysis and product research to support personal risk recommendations.
- Perform client needs analysis for life, TPD, trauma, and income protection cover.
- Research policies via approved insurer portals.
- Review Product Disclosure Statements (PDS) for features, definitions, exclusions, and waiting/benefit periods.
- Generate side-by-side quote comparisons and policy summaries for adviser recommendations.
Strategy Preparation
- Research and evaluate recommended and alternative strategies in line with client objectives, legislation, and product suitability.
- Analyse strategies such as contributions (personal, concessional, non-concessional), pensions, rollovers, and investment structures (e.g., SMSF vs retail).
- Model and compare multiple strategic options using advice tools and calculators.
- Identify compliance implications, tax impacts, and legislative considerations.
- Prepare technical summaries and briefing notes for inclusion in advice documents.
Advice Preparation
- Draft and prepare advice documents according to adviser instructions, AFSL compliance guidelines, and client needs.
- Generate Statements of Advice (SoAs), Records of Advice (RoAs), and supporting documentation.
- Compile and prepare portfolio review reports (monthly, quarterly, annual).
- Collect, process, and input data into financial planning software and templates.
- Ensure documentation aligns with licensee guidelines and compliance requirements.
- Liaise with advisers for clarification, strategy alignment, and document approval.
Investment Research
- Analyse investment solutions for alignment with client objectives, risk profile, and suitability.
- Compare investment platforms, including fees, features, and available investment menus.
- Review portfolio performance, asset allocation, and risk exposure.
- Benchmark product and platform costs for efficiency opportunities.
- Prepare investment research summaries and client-ready comparison tables for advice documents.
