What Our Paraplanners Can Do
Our Definition of Paraplanning
At the core we believe our role as a paraplanner is to assist with the preparation and planning leading up to your client meeting.
This can be the initial meeting or a review meeting. We believe a paraplanner is not only involved in the Financial Needs Analysis but we can also implement and assist with client reviews, meeting preparations and quote comparisons. We are equipped to assist in the initial process for new clients as well as manage the task of reviewing portfolios for existing clients.
Our team is resourceful and works very closely with our administration team. Many advisors are seeing the benefits of this collaboration, a paraplanner assists with the pre-appointment work and the administration team manages the post-appointment work.
“Everything should be made as simple as possible but not simpler.”
Popular Comparative Analysis
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Popular Paraplanning Pricing
All fees indicated below are based on some of our exisitng agreements. If you are interested in the services we recommend contacting us. By providing us with an outline of your processes and needs we can tailor a solution.
The service entails capturing all relevant client information as well as the plan details required to generate the plan on your FNA system. Once the first draft is generated you can request any changes that are needing to be made before you capture your recommendation and generate your final plan.
This price varies greatly depending on the needs, requirements and the information provided.
Assessing to see whether your client has the best cover both in terms of price and benefits is Important. Quote comparisons are crucial for both new and existing clients. It forms part of servicing your client while possibly generating new business.
Often the challenge when collating quotes is needing to make sure that the premium patterns and benefits are all as similar as possible in order to compare. Often the back and forth between you and your consultant costs far more than just your time.
Our base fee is based on 3 like for like quotes with a summary captured into your template. If you require additional quotes comparing benefits, waiting periods, premium patterns or commission structures our Paraplanners will be happy to assist you at a revised fee. We will consider reducing the fee based on the volumes.
Client reviews are a vital part of maintaining and growing a financial practice. If you assessed your book you are likely to have many clients whom you do not have the time to see but they may require your assistance. Streamlining your review process will allow you to make brief contact with all your clients and rapidly assess whether you need to meet.
Advisors are doing this by using our review process. The Approach Paraplanner collates your clients’ policy information and then captures it into a portfolio template of your choosing. This draft email with the portfolio summary is sent from you to your clients with a set of review questions. Based on the answers to these questions you can quickly determine if a meeting is necessary. If nothing has changed for your client you have completed a review.
This service does not look the same for every advisor but we believe with our adaptable approach we will be able to design a process that suits you. Advisors also couple this service with the 3 quote comparison service.
This service has been added by request. The process is a combination of the quote comparison coupled with a review summary. In the process of reviewing a client, advisors' wish to proactively offer cover comparisons on their existing cover. Advisors are not doing this for every client as this is more costly and perhaps not necessary for every client. The service is being used by advisors whose clients are maybe on Blue status with Discovery or they know a product has come out that will be an enhancement to their client.
This is an excellent way of preparing you for a meeting with a client you know has changes to their plan.