What to Expect with Our Plutosoft Paraplanning Service

This article is part of our Plutosoft Paraplanning service. For a broader look at how Plutosoft fits within the platforms we support, see our software capabilities overview.

The general outsourced paraplanning service model is covered in Our Standard Paraplanning Process. This article covers what is specifically different when your engagement runs through Plutosoft.

How does Felcorp work inside Plutosoft?

Your Felcorp paraplanner logs into your Plutosoft instance and works directly within your file structure. There is no file export, no external document assembly, and no re-import.

Everything happens inside your Plutosoft environment:

• Strategy modelling - current and recommended scenario modelling using Plutosoft's internal cashflow and projection tools
• Product research - investment selection and platform analysis using Plutosoft's built-in research and report generation facilities
• Document production - SOAs and ROAs assembled directly in Plutosoft using your templates
• File notes - all notes, assumptions, and flags documented in the client file within Plutosoft

ROA work tends to move quickly on Plutosoft. There is typically less modelling involved, and Plutosoft makes it straightforward to move between advice scenario areas, which keeps the workflow fast.

Most firms utilise Plutosoft for all internal research tools. Some practices prefer to use ProductRex externally for platform and investment selection, with the outputs exported and dropped into Word-based advice documents. If your practice uses ProductRex alongside Plutosoft, your paraplanner can work across both.

This matters because it eliminates version control issues. The adviser reviews the same file the paraplanner produced, in the same system, with no data transfers in between.

How does document assembly work on Plutosoft?

SOAs can be prepared directly within Plutosoft's advice generation area or assembled using external Word document templates. We work both ways depending on your setup.

In practice, the majority of firms we work with do not use the internal advice template builder in Plutosoft. Roughly 2 in 3 practices run manual Word document templates instead. This is typically because Word templates are easier to manage and customise than Plutosoft's managed template fields, and many firms have built their advice documents around Word long before their Plutosoft implementation.

For the firms that do use Plutosoft's in-platform assembly, the workflow is template-driven. Once the correct template is selected, certain sections auto-populate from client data and strategy inputs. Your paraplanner works within this structure by:

• Completing manual sections - strategy rationale, situational commentary, and adviser-directed content that cannot auto-populate
• Verifying auto-populated content - checking every pre-filled field against the brief and source documents to catch data mismatches
• Ensuring document coherence - reading the full document as a whole to confirm it flows logically, not just as a collection of populated fields

For practices running Word templates, the paraplanner extracts the data and strategy outputs from Plutosoft and assembles the advice document in your Word-based template. Either way, verification against the brief is what catches data errors before they reach the adviser.

What Plutosoft-specific QA checks apply?

Felcorp's standard QA process applies to all files before handback. On Plutosoft engagements, the QA review includes additional platform-specific checks:

• Auto-populated field accuracy - every pre-filled field verified against source data, not just accepted at face value
• Template version control - for in-platform assembly, confirmation that the correct template version was used. For Word-based practices, confirmation that the current version of the Word template was used, not an outdated copy
• Licensee compliance overlay - all compliance sections reflect your specific licensee's requirements. This is particularly important where firms have not fully built out their Plutosoft templates, as there can be mismatches between what the licensee requires and what the firm has configured
• Plutosoft file integrity - the completed file is saved correctly within Plutosoft's document management system and accessible for adviser review

The template mismatch issue deserves attention. Plutosoft is robust, but many firms have not invested enough time building out templates in the template builder. When the in-platform templates do not fully reflect the licensee's current requirements, compliance gaps can slip through. Our QA team checks for this regardless of whether the document was assembled in-platform or in Word.

The completed file remains in Plutosoft for adviser review. Once approved, the document is ready for client presentation without any additional transfers or formatting.

Turnaround and SLAs

Turnaround expectations for Plutosoft engagements follow the same framework as all Felcorp paraplanning work. SLAs are calibrated during the trial period based on your actual case mix and volume. For the full turnaround breakdown by complexity, see Our Standard Paraplanning Process.

For more on how SLA structures work, see Felcorp SLA Options.

Getting started on Plutosoft

Plutosoft is cloud-based, so there is no VPN or remote desktop required. But it does require a support staff login with two-factor authentication configured correctly before the paraplanner can access the platform.

There are 2 ways to handle access. Either your practice provisions a dedicated paraplanning login for the Felcorp team member, or the paraplanner uses an existing adviser support staff login. A dedicated login is the cleaner option because it provides a clear audit trail and avoids disrupting other users' sessions.

The biggest delay in getting started on Plutosoft is usually the provisioning of separate admin staff access, not the platform setup itself. Once access is sorted, the rest of the onboarding covers:

• Template mapping - documenting which templates to use for each advice type, whether in-platform or Word-based, and how your practice applies them
• Workflow preferences - how you want briefs submitted, files named, and handback notifications managed
• Licensee requirements - your specific compliance overlay, disclosure wording, and regulatory sections

Plutosoft does not take any longer to set up than any other platform. For the full setup guide, see Getting Started with Outsourced Plutosoft Paraplanning.

Frequently asked questions

Does the paraplanner need their own Plutosoft licence?

Not necessarily. Your Felcorp paraplanner can work under a dedicated support staff login or share an existing adviser login. A dedicated login is the preferred option because it allows your practice to restrict visibility and set specific permissions for the paraplanner. If the paraplanner shares an adviser login, those granular security controls are not available and you would need to coordinate directly with the adviser or practice owner on how data access is managed.

If you want a dedicated login with restricted visibility, your practice would need to provision a separate support staff licence within Plutosoft.

What happens if my Plutosoft templates change?

Template updates are part of normal operations. When your practice updates a template or your licensee issues a new compliance overlay, notify your Felcorp team and the SOP is updated accordingly. The paraplanner will use the new template from the next job.

Can Felcorp help us migrate from Word templates to Plutosoft's in-platform templates?

Firms typically do not move from Word to Plutosoft's in-platform template builder. Building templates inside Plutosoft can be finicky, and most practices find it easier to maintain Word documents and use Plutosoft as an export function. We are completely fine with that approach. We can assist with template-related tasks, but we do not cross lines with anything to do with compliance or legal content. Template wording and compliance overlay decisions remain with your practice and licensee.

Can Felcorp paraplanners use external modelling tools alongside Plutosoft?

By default, all modelling is completed within Plutosoft's integrated tools. If your practice specifically requires an external tool for a particular analysis, this can be documented in the SOP and accommodated. But for most engagements, keeping everything inside Plutosoft is the cleaner approach.

How do I know the auto-populated fields were checked?

Auto-populated field verification is a specific line item in Felcorp's QA checklist for Plutosoft engagements. The QA manager confirms every pre-filled field matches the source data before handback. This is not a discretionary step.

How do I know if I need a paraplanner or something else?

If you are unsure whether paraplanning is the right fit, see Help me choose which paraplanner I need for a breakdown of the different service models and how they map to your workload.

What if I also need adviser admin support alongside paraplanning?

Felcorp offers dedicated adviser admin support as a separate service area. Many practices run both paraplanning and admin teams. For help deciding what you need, see Help me choose which admin support I need.

Written by Tobias Fellas, Founder & CEO at Felcorp Support.