Para-planner jobs are becoming more common in the financial planning industry, with responsibilities including administrative tasks, research, and coordinating meetings. Educational requirements vary, and the job can be stressful but in demand due to an influx of retirees.
Jobs for planners are becoming more and more common in the financial planning industry. The main task of the para-planner is to assist a financial planner with his administrative tasks so that the financial planner has more time to spend with his clients. This also frees up the financial planner to focus on sales. Para-planner jobs are often a way to get into the financial planning industry, and many para-planners end up becoming financial planners. The different jobs performed in the para-planner role include administrative tasks, conducting research, coordinating meetings between the planner and clients, and performing other tasks as assigned by the planner.
Educational requirements for para-planner jobs vary considerably depending on the company. Some may require a bachelor’s degree in business, and others offer on-the-job training for entry-level positions. Certification as a paraplanner may also be an option. Senior paraplanners are usually responsible for supervising other paraplanners if the company has a paraplanning department within the organization. Smaller financial planning companies often cannot afford to have entire planning departments, so they often hire planners on an independent contract basis.
There are three main areas of responsibility in planner jobs. They are responsible for the administrative tasks of the financial planner. This may include preparing reports for the client and/or planner to better understand your financial situation and collect and enter client data.
Although administrative tasks comprise the bulk of the paraplanner’s work, he may also be responsible for carrying out the research. The type of survey may vary slightly depending on the client’s needs. Planners must also often be responsible for the financial planner’s schedule and coordinate meetings between the planner and the client. This often includes answering the phone and interacting with the customer.
Planners often take on much of the financial planner’s responsibilities, so the job can be stressful. Knowledge of finance is very important, even if a para-planner is not qualified to give financial advice. Other important skills in para-planner jobs include interpersonal skills, because they often work closely with clients and financial planners, and the ability to multi-task, as well as strong time management skills.
While the job can be considered high pressure, there is a growing demand for para-planners due to the influx of retirees. Many retirees are using financial planners to manage their retirement accounts; therefore, there is likely to be an increase in business. A paraplanner’s salary can vary, depending on whether he works for a public or private company, as well as his education level.
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