5 Benefits of outsourcing a Paraplanner

A number of Financial Advisers understand the benefits of outsourcing an independent Paraplanner to complete their paraplanning, administration and reporting needs. However, many would still rather hire in-house or complete the work themselves. That's why we've listed 5 excellent benefits to outsourcing your Paraplanning needs.

(1) Flexibility - There is no obligation to pay a fulltime employee if or when the work volumes are low. The same applies when you have too much on. An outsourced Paraplanner can help you manage the excess as and when the need arises, so you don't have to keep your clients waiting.

(2) Reducing your Overheads - There is no need for added desk space, an extra phone line, sick and holiday pay or any tax and national insurance contributions. So, not only saving you money, but time too. You will also save on any recruitment costs!

(3) Vast Knowledge - An independent Paraplanner will be able to hit the ground running and will have a wealth of experience and knowledge built up over the years from working with a number of different firms and private individuals.

(4) Rest and Relaxation - When you decide to take a holiday or if you become ill, work can still continue in the background as your Paraplanner will be able to cover parts of the process you would usually do yourself.

(5) Commitment - You don't need to be making any long term commitments, just use services as and when you need. Should you also not be happy with the arrangement for any reason or need to end services quickly, it's easy to change. Whilst we all aim to build long term relationships with our clients, sometimes economical poses can affect this.