We know how hard it is to get great, experienced, fully qualified paraplanners at the best of times – and I think it’s fair to say we are not currently living through the best of times (cost of living crisis, anyone?).
Advice firms often do not have the luxury of time or resource to train up from scratch and, at the point they realise they need the paraplanning support, it’s normally right up against a deadline.
This is where outsourced paraplanning can come in handy. You can keep it as an ace up your sleeve only to use when you need that extra support. Chances are you’ll gain expertise by using it, too.
Given the knowledge and expertise outsourced paraplanners have, you can use them as a sounding board for a case or they can even push back a little if they identify any issues with the case or the advice itself. This third-party perspective can be invaluable, particularly when considering the outcomes of Consumer Duty.