Frequently Asked Questions
Here are some questions that we are often asked about our Paraplanning, if your question is not listed please contact us directly.
Q: What information do I need to provide?
A: Depending on the service level you have agreed to, the IFA needs to provide the Fact Find and detailed client outline. This allows us to get to know your client as well as you do, ensuring that the objectives and Fact Find match in the final report. For more complex cases the IFA will need to provide a letter of authority so we can request information from Providers
Q: What areas of Financial Planning do you cover?
A: Our team of Paraplanners have their own specialities, allowing us to support you in advising on Retirement planning (both accumulation and decumulation), Investments, Protection and Mortgages.
Q: What is the timeline for receiving reports?
A: In standard cases, such as ISA and Pension Contributions, the report is returned within 5 working days. For more complex cases, such as Pension Transfers, the turnaround time is dependent on the providers. It is the responsibility of the Paraplanner to chase providers and ensure the information is delivered in a timely manner.
Q: How can I be sure the report is compliant?
A:Compliance is at the heart of our Paraplanning, as it is an ever changing entity we work closely with Sense Network to ensure our work conforms to all industry standards
Q: Do I need to send all my cases to you?
A: The benefit of outsourcing your paraplanning is that it gives you the freedom to spend more time in front of your customer and less time spent on non-remunerative tasks. The more cases you outsource the more customers you can see.
Q: What is the cost of outsourcing?