paraplanner job description

Some of the specific tasks of a paraplanner include: product research: as a paraplanner, you are given financial information from clients to analyse and recommend financial products. You obtain illustrations and find analytical software to analyse financial data and review a client’s existing investments. For instance, you analyse cash flow and determine favourable investment opportunities. implementing recommendations from the financial planner: once you identify the financial products or investments for a client to try out, the financial planner will review and discuss them with the client. When the client gives the go-ahead, you facilitate the processing of business transactions. For instance, you prepare clients’ data for various investment opportunities and the necessary documentation. preparing documentation and maintaining client files: as a paraplanner, you prepare and maintain detailed client records and files. You also prepare financial documentation for your colleagues. You ensure the documentation and filing procedures meet the organisational compliance standards. If the company uses software to manage the files, you enter client data into relevant databases. preparing the annual review: as a paraplanner, you analyse financial data at the end of the year and prepare reports for financial planners. You can recommend changes to the investment portfolio to improve the performance of client accounts. scheduling client meetings and performing administrative tasks: as a paraplanner, you receive phone calls and respond to emails. You also schedule meetings with clients and send invoices to clients. Sometimes, you perform other minor office duties like managing supplies.

As a paraplanner, you work in financial institutions or investment banks. Since you perform administrative work, you are likely to work in an office setting. You spend most of the day on your computer, analysing financial data and filling in the information in client files. While you spend most of the day indoors, you meet with clients when you are an experienced paraplanner. Paraplanners also attend workshops and conferences from time to time.

who are your colleagues?

Depending on your employer and the industry you work in, your colleagues might include financial advisors, accountants and financial planners . You might also be working in close proximity to insurance brokers and mortgage advisors, as well as other specialists that could include, but not be limited to, finance analysts , credit officers, risk analysts and risk managers.

As a paraplanner in a full-time position, you can expect to work standard business hours from 9 am to 5 pm with occasional evening work for research or administrative tasks. There may be times when you need to work on weekends to complete your duties or attend workshops. Additionally, part-time and contract positions are also available for paraplanners.

As a paraplanner, there is a clear career path for advancement. You begin as a junior paraplanner and can work your way up to a senior paraplanner position. With further expertise and experience, you even have the opportunity to become a financial advisor or financial planner. In a banking setting, one can advance to roles such as a lending officer or higher management positions.

advantages of finding a paraplanner job through randstad

Finding your paraplanner job through Randstad provides important advantages such as: a wide variety of training and development opportunities an experienced contact person to provide help if needed a range of opportunities in your area get paid weekly or monthly, depending on the job temporary and permanent contracts Want a permanent contract? A temporary job as a paraplanner is often a stepping stone to an attractive permanent job. Thousands of people earn a permanent contract every year with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too.

how much does a paraplanner earn?

For those starting out as a paraplanner, an expected salary of $75,000 per year is typical for an entry-level position. With increasing experience, this number can rise to over $90,000 annually. Your earning potential will be influenced by the level of complexity in your tasks and your level of experience.

what is the job description of a paraplanner?

As a paraplanner, your role is to provide support to more experienced members of the financial planning team. This includes completing administrative tasks such as preparing financial documents, entering client data into software, and creating invoices. You may also need to follow up with clients via phone to verify information on their documentation. While you won't have direct customer interactions, your work is essential to the success of the team.

what skills does a paraplanner need?

As a paraplanner, your job involves utilising strong administrative skills. You are responsible for maintaining client files through data entry and filing tasks, which helps keep the office running smoothly. Additionally, you must possess computer skills to accurately input client information into relevant databases.

is paraplanner a good career?

If you're looking to enter the financial services industry, a career in paraplanning could be the ideal path for you. As a paraplanner, you'll handle back-office tasks and assist financial planners with document preparation. This will allow you to gain a comprehensive understanding of the industry and eventually advance to more lucrative finance advisory positions. Although your starting salary may be lower than other financial roles, there's potential for higher earnings in the long run.

how do I become a paraplanner?

You require a tertiary qualification to work as a paraplanner in Australia. You can start with a Certificate IV in financial services to learn how to prepare financial documents. If your career aspiration is to become a paraplanner, consider completing an advanced diploma in paraplanning. If you have plans to progress to a financial advisor role, consider completing a bachelor’s degree in financial planning .

how do I apply for a paraplanner vacancy?

Applying for a paraplanner job is easy: create a Randstad profile and search our paraplanner job offers . Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here.

paraplanner

what is a paraplanner?

A Paraplanner plays a vital role in the financial planning industry in Australia. They provide essential support to financial planners and advisors by assisting in the creation and implementation of comprehensive financial plans for clients. The primary responsibilities of a Paraplanner typically include:

Financial Analysis: Conducting in-depth analysis of clients' financial situations, including income, expenses, assets, and liabilities. This analysis helps identify areas for improvement and supports the development of tailored financial strategies.

Research and Documentation: Assisting in research related to investment products, insurance policies, and other financial instruments. This involves gathering information, analyzing product features, and preparing reports for financial planners to review.

Financial Planning Support: Collaborating with financial planners to develop customized financial plans for clients. This includes preparing and maintaining financial models, projections, and scenarios to illustrate potential outcomes and recommendations.

Product and Portfolio Management: Assisting in the management of investment portfolios, including researching investment options, preparing investment proposals, and monitoring portfolio performance. Paraplanners may also help with portfolio rebalancing and reporting.

Compliance and Regulatory Requirements: Ensuring that all financial plans and recommendations comply with relevant laws, regulations, and industry standards. This involves staying up to date with changes in legislation and maintaining accurate documentation.

Client Relationship Management: Interacting with clients to gather necessary information, clarify goals, and provide support when required. Paraplanners may also assist with scheduling client meetings, preparing meeting agendas, and documenting client interactions.

Technology Utilization: Utilizing financial planning software, tools, and systems to streamline processes and improve efficiency. Paraplanners often work with software for data analysis, financial modeling, and financial planning calculations.

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average paraplanner salary

As a paraplanner, your remuneration package fluctuates based on experience and qualifications. The average salary of a paraplanner is $100,000 per year. When you are new in the role, you start in a junior position with a base salary of $85,000 - 95,000 annually. With years of experience, your earnings may increase to over $130,000 yearly.

what factors influence the salary of a paraplanner?

Your salary is dependent on your qualifications and work experience. If you hold a bachelor's degree, you are more likely to earn a higher salary since you can take on additional client-facing tasks such as building relationships with clients and attending meetings. With only an advanced diploma or Certificate IV course, you may earn a lower salary initially, but your earning potential will increase as you gain more experience.

In addition to qualifications and experience, the size of the organisation you work for also plays a role in determining your salary. Typically, working for a larger company will result in a higher salary due to the increased complexity of responsibilities. Conversely, working for a smaller company means working with a smaller team of financial advisors, resulting in a slightly lower salary.

Want to know what you will earn as a paraplanner? Check out what you are worth with our salary checker.

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2

types of paraplanners

The common types of paraplanners include:

in-house paraplanners: as a paraplanner, you can work in-house for one company. In-house paraplanners usually work for financial services companies like investment banks and financial institutions. You work with one financial advisor or provide administrative support to financial planners in your department.
outsourced paraplanners: as an outsourced paraplanner, you work independently as a freelance contractor and collaborate with multiple firms for shorter periods. This allows you to work with financial advisors who specialise in various niches within the financial industry.

3

working as a paraplanner

Although paraplanning is a supportive role, your expertise and contribution are highly valuable to the company. Below are the specific duties, schedules, work environments, and career opportunities that come with this role.

paraplanner job description
Some of the specific tasks of a paraplanner include:
- product research: as a paraplanner, you are given financial information from clients to analyse and recommend financial products. You obtain illustrations and find analytical software to analyse financial data and review a client’s existing investments. For instance, you analyse cash flow and determine favourable investment opportunities.
- implementing recommendations from the financial planner: once you identify the financial products or investments for a client to try out, the financial planner will review and discuss them with the client. When the client gives the go-ahead, you facilitate the processing of business transactions. For instance, you prepare clients’ data for various investment opportunities and the necessary documentation.
- preparing documentation and maintaining client files: as a paraplanner, you prepare and maintain detailed client records and files. You also prepare financial documentation for your colleagues. You ensure the documentation and filing procedures meet the organisational compliance standards. If the company uses software to manage the files, you enter client data into relevant databases.
- preparing the annual review: as a paraplanner, you analyse financial data at the end of the year and prepare reports for financial planners. You can recommend changes to the investment portfolio to improve the performance of client accounts.
- scheduling client meetings and performing administrative tasks: as a paraplanner, you receive phone calls and respond to emails. You also schedule meetings with clients and send invoices to clients. Sometimes, you perform other minor office duties like managing supplies.
work environment

As a paraplanner, you work in financial institutions or investment banks. Since you perform administrative work, you are likely to work in an office setting. You spend most of the day on your computer, analysing financial data and filling in the information in client files. While you spend most of the day indoors, you meet with clients when you are an experienced paraplanner. Paraplanners also attend workshops and conferences from time to time.
who are your colleagues?

Depending on your employer and the industry you work in, your colleagues might include financial advisors, accountants and financial planners. You might also be working in close proximity to insurance brokers and mortgage advisors, as well as other specialists that could include, but not be limited to, finance analysts, credit officers, risk analysts and risk managers.
work schedule

As a paraplanner in a full-time position, you can expect to work standard business hours from 9 am to 5 pm with occasional evening work for research or administrative tasks. There may be times when you need to work on weekends to complete your duties or attend workshops. Additionally, part-time and contract positions are also available for paraplanners.
job outlook

As a paraplanner, there is a clear career path for advancement. You begin as a junior paraplanner and can work your way up to a senior paraplanner position. With further expertise and experience, you even have the opportunity to become a financial advisor or financial planner. In a banking setting, one can advance to roles such as a lending officer or higher management positions.
advantages of finding a paraplanner job through randstad
Finding your paraplanner job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as a paraplanner is often a stepping stone to an attractive permanent job. Thousands of people earn a permanent contract every year with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too.

4

education and skills

Some of the educational qualifications of a paraplanner include:

tertiary qualification: pursue a tertiary qualification to learn the industry-relevant skills of becoming a paraplanner. For instance, a Certificate IV in financial services introduces you to the role. However, if you aspire to become a paraplanner, consider completing an Advanced Diploma in paraplanning. If you are considering moving to a financial advisor role, complete an accredited bachelor’s degree in business or financial planning.
work experience: you require industry experience to excel as a paraplanner. Consider seeking an internship opportunity while studying to gain experience. An entry-level role, like a junior paraplanner or an assistant in the finance team, prepares you for the role.

paraplanner skills and competencies

Some of the qualities of a paraplanner include:

organisational skills: as a paraplanner, you manage large volumes of financial data, and organisation skills help you improve efficiency. With organisational skills, you can plan your schedule and organise things in the office. Strong organisational skills help you meet deadlines and work effectively to ensure the needs of every client are met.
analytical skills: as a paraplanner, your job involves reviewing financial data for clients. You require analytical skills to take an in-depth look at the finances and data provided during financial analysis. You also translate complex information to simple terms and determine how to fix problems that arise.
attention to detail: as a paraplanner, you complete many tasks simultaneously, especially when reviewing clients' financial data. It is important to complete your job accurately and minimise room for error. Your detail-oriented skills help you improve accuracy when analysing large sets of data.
teamwork skills: as a paraplanner, you require strong teamwork skills since you collaborate with various professionals in financial services. Being a good teammate involves practising empathy, humility and being a good communicator.

5

FAQs about working as a paraplanner

Here, you will find the answers to the most frequently asked questions about the profession of a paraplanner.

how much does a paraplanner earn?

For those starting out as a paraplanner, an expected salary of $75,000 per year is typical for an entry-level position. With increasing experience, this number can rise to over $90,000 annually. Your earning potential will be influenced by the level of complexity in your tasks and your level of experience.
what is the job description of a paraplanner?

As a paraplanner, your role is to provide support to more experienced members of the financial planning team. This includes completing administrative tasks such as preparing financial documents, entering client data into software, and creating invoices. You may also need to follow up with clients via phone to verify information on their documentation. While you won't have direct customer interactions, your work is essential to the success of the team.
what skills does a paraplanner need?

As a paraplanner, your job involves utilising strong administrative skills. You are responsible for maintaining client files through data entry and filing tasks, which helps keep the office running smoothly. Additionally, you must possess computer skills to accurately input client information into relevant databases.
is paraplanner a good career?

If you're looking to enter the financial services industry, a career in paraplanning could be the ideal path for you. As a paraplanner, you'll handle back-office tasks and assist financial planners with document preparation. This will allow you to gain a comprehensive understanding of the industry and eventually advance to more lucrative finance advisory positions. Although your starting salary may be lower than other financial roles, there's potential for higher earnings in the long run.
how do I become a paraplanner?

You require a tertiary qualification to work as a paraplanner in Australia. You can start with a Certificate IV in financial services to learn how to prepare financial documents. If your career aspiration is to become a paraplanner, consider completing an advanced diploma in paraplanning. If you have plans to progress to a financial advisor role, consider completing a bachelor’s degree in financial planning.
how do I apply for a paraplanner vacancy?

Applying for a paraplanner job is easy: create a Randstad profile and search our paraplanner job offers. Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here.

paraplanner.