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Why Paraplanning is an Essential Part of Financial Advice

The landscape of financial advice has changed and evolved in recent years, identifying the need for paraplanners. Financial advisers now rely heavily on paraplanners in order to deliver quality, relevant advice to their clients.

We turn our attention to Aishling Costello, Paraplanner for Fidelius Group in Bridgewater, to find out more about what a paraplanner does and the impact they have on your finances.

Becoming a paraplanner wasn’t always on the cards for Aishling, in fact when she joined her first IFA firm as an administrator she wasn’t even sure what services an IFA firm provided for clients. However, this soon changed and during her two and half years in her first job she quickly built her skills and knowledge by taking an active interest in what was going on around her.

Aishling is now part of a growing niche within the financial advice industry and provides the financial advisers she works for with all the research, reports and complex recommendations that advisers have come to rely on. It is paraplanners like Aishling who crunch the numbers to discover what is the best course of action for your unique circumstances.

This vital part of the financial advice service ensures Financial Advisors can focus on the client facing aspects while behind the scenes the paraplanner is doing all the research and calculations to ensure the advice they give is bespoke.

She now works for Fidelius Group where she likes to build on her skills by getting involved in other areas of the business including project work, processes and systems in order to identify areas where smoother processes could lead to better client outcomes.

Paraplanning used to be considered a channel by which to advance your career to becoming a financial adviser, however more and more it is considered a career in its own right. Paraplanners are increasingly becoming crucial within advice firms, providing the insights and technical knowledge that financial advisers rely on.

Aishling possesses the analytical mind and problem solving capabilities that make an excellent paraplanner and has recently featured on the front cover of Professional Paraplanner. She attributes some of her success in the field to her employer who has supported her study and learning and provided the environment for her to build on her skills and knowledge. Full interview with Aishling can be found here

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Peter Field – CFA

As a financial analyst and the chief editor at InvestingReviews.co.uk, I write about how accessible investing can be for everyone. I hope you find my guides and reviews helpful.

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