What is a Virtual Paraplanner?
Employing the services of a Virtual Paraplanner gives financial advisers the ability to outsource your Paraplanning needs to a highly experience Paraplanning Professional that specialises in the preparation of Statements of Advice documents at a fraction of the cost to employ a Paraplanner in-house.
A virtual Paraplanner is often a highly experienced Paraplanner who has decided to move away from a traditional in office Paraplanning role and now work from either a home office or within a contract Paraplanning firm.
A virtual Paraplanner is often a highly experienced Paraplanner who has decided to move away from a traditional in office Paraplanning role and now work from either a home office or within a contract Paraplanning firm.
How do I know a Virtual Paraplanner is the right fit for my business?
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Many Australian Financial Planning firms are now taking advantage of the skills of virtual Paraplanner's to reduce the cost of the generation of their Statement of Advice documents. To decide if a virtual Paraplanner is the right fit for your business you need to consider how much you need them involved in the advice process. Typically a virtual Paraplanner works best where they receive a large majority of the advice already decided upon by the adviser. The Virtual Paraplanner takes the advice, enters it into the advisers financial planning software, such as Xplan, and generates the statement of advice, delivering back a compliant document based on their experience within the Adviser's Licensee.
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Where is a Virtual Paraplanner Located?
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Different virtual paraplanning providers will have different structures in building their Paraplanning team. It is important to discuss with your Licensee if your Paraplanner needs to be based in your country to maintain client data privacy. Virtual Paraplanner's can operate from anywhere in the world and it is important to gain an understanding of their location and how they protect your clients information.
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How do I pay for a Virtual Paraplanner?
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Different virtual paraplanning solutions offer different pricing models. You may be asked to pay on a per plan basis, or agree to pay a set monthly fee. The best structure for you and your business will come down to how busy your business is and the volume of statements of advice you need created.
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Summary
Engaging a Virtual Paraplanner can provide you with the flexibility you need to be able to produce high quality Statement of Advice documents without the need to spend thousands of dollars on an in-house Paraplanning solution. Spend a few dollars trialing the virtual Paraplanner will give you a comparative basis to decide which is the best solution for you, in-house or a virtual solution..
