Paraplanning is an essential cog in the complex machine of financial advice. Without it, advisers might find themselves drowning in paperwork or even falling outside of regulatory frameworks, and – crucially – unable to spend enough time with the clients who deserve their full attention.
Here at Corbel Partners, we take a pragmatic and cost-effective approach to paraplanning. Here’s how we do it.
We have an ever-growing team of 26 employed paraplanners
If you read our meet the paraplanners article earlier this year, you will know that we have a team of paraplanners employed in-house to meet our advisers’ needs.
Headed up by the brilliant Gemma Johnston, our paraplanning cohort has recently increased in size again to 26. We expand the team according to what advisers require, ensuring our network members have what they need to provide an exemplary service.
Our paraplanning is charged at £22 an hour, with no minimum or maximum threshold
We don’t believe in charging advisers for a service they don’t use. Running an advice business is becoming more expensive as it is – why would we add to that strain?
In fact, we heavily subsidise our paraplanning service to encourage advisers to use what they need without facing too much financial strain.
When Corbel Partners advisers want to use our paraplanning services, they are charged £22 an hour (billed by the minute). There are no minimum or maximum thresholds for how much or little of our service they use.
Our head of paraplanning, Gemma, reports that the average job takes 3.9 hours to complete, although this will depend on the complexity of the case.
By contrast, Facilit8 Business reports that on average, IFAs can expect to pay up to £50 an hour for paraplanning in 2025. Some networks also tie their members into expensive paraplanning retainer contracts.
The Corbel Partners paraplanning process is simple
- Once an adviser has onboarded a client using our in-house database, Finpath, and completed a fact-find, they complete a short paraplanning worksheet.
- They can easily enter further information on Finpath that would be useful to the paraplanner.
- An available paraplanner will add it to their queue and send a confirmation email, so the adviser knows the project is underway.
- Suitability letters and any other written information will be uploaded to Finpath and sent to the adviser.
- On average, the turnaround time is 10 days, depending on the request.
4 incredible benefits of our paraplanning setup
1. Saving time
We know that your time is precious, and ideally, much of it should be spent meeting with clients. Our paraplanning team aims to save advisers several hours a month, enabling them to focus their efforts on other areas of their practice.
2. Access to technical knowledge
All our paraplanners are well equipped to manage complex requests, with many of them having worked in financial services for more than a decade. This means our advisers are always able to access the team’s wealth of experience.
3. Lightening the paperwork load
Nobody becomes a financial adviser because they love doing paperwork. They do it because they genuinely want to make an impact on clients’ lives. All 26 of our paraplanners know this – and they’re dedicated to relieving advisers of the paperwork burden where possible.
4. A personal service
Every adviser likes to work slightly differently, and our paraplanners will always make an effort to provide a personal service. The team gets to know all the network members as individuals and, where possible, tailors their communications and approach to suit their needs.
Get in touch to learn more
Want to learn more about joining the Corbel Partners network?
Email hello@corbelpartners.co.uk or call 01925 637891.
Please note
This article is for general information only and does not constitute advice. All information is correct at the time of writing and is subject to change in the future.