Paraplanning
Definition of 'Paraplanning'A relatively new position within the financial planning industry that involves the performance of the administrative duties of a financial planner. This function was created to allow financial planners to focus on the sell-side by working more closely with customers to identify their investing needs. |
|
Investopedia explains 'Paraplanning'Paraplanners do most of the grunt work (preparing plans and reports) for financial planners. Some large firms have developed new departments for paraplanners within their organizations, however, the cost of hiring paraplanners is extremely high, and as a result, this option may be unavailable to some smaller companies. This has led to the development of outsourcing companies who provide paraplanning services to companies upon request.Working as a paraplanner is being utilized also by recent graduates to get a foot in the financial planning industry's door, where they can gain experience and move up to a financial planner themselves later. |
Related Definitions
Articles Of Interest
-
Shopping For A Financial Advisor
Finding your perfect advisor is as simple as shopping for a car. Read on to learn more. -
Choosing An Advisor: Wall Street Vs. Main Street
A high-profile brand name alone won't meet your personal investing needs. This article will show you what else to look for. -
Paying Your Investment Advisor - Fees Or Commissions?
The way a professional is compensated can affect quality of service. Learn more here. -
The Alphabet Soup Of Financial Certifications
We decode the meaning of the many letters that can follow the names of financial professionals. -
Should You Offer Alternative Investments?
Find out what problems arise for financial representatives when they start to diversify their client offerings. -
How To Become An Investment Bank Analyst
Financial services firms are taking a laser-like focus on analyst responsibilities and will favor candidates who bring the following "must-have" attributes to the negotiation table. -
The Best Training Programs For CFP Exams
The competition to become a financial planner is hot, and growing hotter. Find out the best way to preparing to land the CFP designation. -
Top 4 Financial Jobs You Can Do From Home
You don't have to go to an office to make a great salary in the financial sector. Here are the top four highest paying financial jobs you can do from home. -
Key Steps To Building A Great Financial Planning Practice
Following the status quo will kill your financial practice. Find out the tips you need to follow to keep you a step or two ahead of the competition. -
7 Courses Finance Students Should Take
These college classes will help you prepare for the working world. Learn how to stand out from your peers.
Free Annual Reports