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Paraplanner Duties

Updated April 17, 2017

Paraplanning is a newly coined term in the financial planning world. Paraplanners aid a financial planner with the administrative side of financial planning. This position was created to allow financial planners to focus on the sell-side of the financial planning, enabling them to work more closely with clients in establishing their investment needs. According to Payscale.com, as of June 2010, paraplanners working in the United States earn between £22,217 and £26,822.

Administrative

Paraplanners prepare technical and financial reports, letters and other documents financial planners need. They review arrangements made on pensions and investments and take notes during client meetings. They may take calls from clients and answer basic questions or transfer calls to the appropriate party. Paraplanners are also responsible for gathering copies of wills, tax return information and account statements.

Research

Paraplanners may complete research on funds, investments and other financial products the financial planner may need when assisting clients. It may be necessary for a paraplanner to attend client meetings with the financial planner to determine what type of research should be conducted.

Coordinating

Paraplanners coordinate with clients, taking messages before initial meetings, and booking and keeping a log of meetings. They also coordinate meetings with potential clients hoping to initiate services with a financial planner.

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About the Author

Bianca Bumpres resides in Dallas, Texas with her family. She has written for online internet blogs and writes a weekly single parent column for the Dallas area. Bumpres enjoys spending time with her family and friends. Her extracurricular activities include enjoying music, reading and weekly volunteer ministry work.