Hiring Now! Paraplanners

Position Overview

A para-financial planner (or paraplanner) works behind the scenes to support financial advisors by gathering, organizing, and analyzing financial data necessary for creating comprehensive financial plans for clients. This role involves conducting detailed research on investment options, tax implications, insurance needs, and retirement strategies. The paraplanner compiles this information into well-structured reports and presentations that financial advisors to guide their clients. Proficiency in financial software, strong analytical skills, and a thorough understanding of financial principles are essential for ensuring accuracy and reliability in the information provided.

In addition to data analysis, a paraplanner is responsible for maintaining updated records of clients' financial information and ensuring all documentation is accurate and complete. They play a crucial role in the preparation of financial plans by identifying potential financial opportunities and risks based on clients' individual circumstances. Effective communication with financial advisors is key, as the paraplanner must clearly convey complex financial concepts. By providing meticulous and detailed support, para-financial planners enable financial advisors to deliver high-quality, personalized financial advice and recommendations to their clients.

Typical responsibilities include:

• Gather and organize clients' financial data, including income, expenses, assets, and liabilities.

• Conduct detailed research on investment options, market trends, and financial strategies/products.

• Analyze clients' financial situations to identify strengths, weaknesses, and areas for improvement.

• Prepare comprehensive financial reports and presentations for financial advisors.

• Develop preliminary financial plans, including retirement, investment, tax, and estate planning strategies.

• Maintain accurate and updated records of clients' financial information and documentation.

• Monitor and track clients' investment portfolios and financial plans to ensure alignment with goals.

• Identify potential financial risks and opportunities based on clients' individual circumstances.

• Collaborate with financial advisors to refine and finalize financial plans and recommendations.

• Stay updated on changes in financial regulations, market conditions, and industry best practices to provide relevant support and insights.

Typical skills and knowledge requirements: 

• Strong Analytical Skills: Ability to analyze financial data and identify trends, risks, and opportunities.

• Proficiency in Financial Software: Competence in using financial planning software and tools for data analysis and report generation.

• Thorough Understanding of Financial Principles: Knowledge of investment strategies, tax planning, retirement planning, and risk management.

• Attention to Detail: High level of accuracy in gathering, organizing, and analyzing financial information.

• Effective Communication Skills: Ability to clearly convey complex financial concepts and findings to financial advisors.

• Research Abilities: Proficient in conducting in-depth research on financial products, market conditions, and regulatory changes.

• Organizational Skills: Strong ability to manage multiple tasks, maintain accurate records, and ensure timely completion of assignments.

Typical experience and education requirements:

Entry-Level:

• Bachelor’s degree in finance, financial planning, economics, business, or a related field.

• Basic understanding of financial planning principles and investment strategies.

• Internships or practical experience in finance or financial planning environments.

• Proficiency in using Microsoft Excel and basic financial software.

• Strong organizational and analytical skills.

Mid-Level:

• Bachelor’s degree in finance, financial planning, economics, business, or a related field; pursuing relevant certifications (e.g., CFP, CFA, CPA) is advantageous.

• 2-5 years of experience in financial planning or a related role within financial institutions.

• Advanced knowledge of financial planning software and tools.

• Proven track record of supporting financial advisors in creating comprehensive financial plans.

• Strong research abilities and a deeper understanding of market trends and financial products.

Senior-Level:

• 5+ years of experience in financial planning, with a significant portion supporting high-net-worth clients or complex financial plans.

• Expertise in financial analysis, investment strategies, and advanced financial planning techniques.

• Ability to mentor and guide junior para-financial planners.

• Excellent communication skills and a strong reputation for accuracy and reliability in financial plan preparation.

Specialized Paraplanners:

• Bachelor’s or Master’s degree in a specialized area (e.g., estate planning, tax planning).

• Relevant certifications or additional training in specialization.

• Extensive experience in the chosen area, with a thorough understanding of specific regulations and strategies.

• Ability to provide expert support and insights in the specialized area.

• Strong analytical and research skills tailored to the specialized field.

Continuing Education:

• Commitment to ongoing professional development through courses, seminars, and workshops.

• Staying updated on the latest financial regulations, market trends, and planning tools.

• Participation in professional organizations and industry conferences.

• Maintenance of relevant certifications and licenses.

• Continuous learning to adapt to evolving industry standards and enhance planning skills.

Location, pay and benefits:

• Usually paid a base salary and bonus with career advancement opportunities.

• Full range of benefits, including health and retirement.

• Remote work and in-office positions are available.

• Locations across the US are currently being hired.