How can paraplanners improve their productivity?

Updated 29/12/2021

In this article, I will cover how paraplanners can leverage technology to improve their productivity across the range of tasks and responsibilities they have to meet for the end client and financial planners.

Managing multiple clients for Paraplanners

Paraplanners manage a portfolio of clients with whom they must maintain good relationships. Keeping track of a large volume of clients can be made easier through the use of Customer Relationship Management (CRM) software.

With a large number of clients comes a large number of enquiries. Collating customer enquiries from different communication channels, such as email, phone and in-person, into an enquiry management system, helps you to be consistent and responsive to clients, never missing a required response.

Having enquiries organised within a system also allows you to take advantage of templated answers to common questions, give clients 24/7 access to make and update queries, and opens up the potential for automated responses.

Paraplanners need to gather a range of data to aid in calculations required to implement their services. Tracking down this information can take many resources. By automating chase communications to request data that isn’t forthcoming, paraplanners can focus on actual work like producing financial cashflow forecasts.

Paraplanners make recommendations

Paraplanners research both individually and collaboratively with the Financial Advisor to recognise appropriate options to satisfy the client’s requirements. Having access to collaboration tools can make this process run far more smoothly.

Paraplanners need access to a range of information to investigate and make recommendations, such as analysing current and future asset allocation of assets for investment strategy while considering the lifetime cash flow and client risk profile.

Implementing forms to capture data allows all the involved parties to access and update information as necessary. Storing all this data in a consistent format, organised for easy retrieval makes the work of a paraplanner much more efficient.

Implementing Recommendations

Paraplanners require access to a range of information to verify that the evidence backs up the advice given. Keeping track of client questionnaires, ‘fact finds’, and meeting notes is made far simpler by storing the documents in a secure, cloud-based, central location.

Using document management software means that advisors, clients and paraplanners can all share access to the same files while keeping private financial information safe.

The process of working on a client file can involve many steps, including updating client investments as instructed and liaising with advisors and clients to enact recommendations. Having a workflow management system will ensure that all the correct steps are taken, by a suitable member of staff, at the appropriate time, while ensuring compliance with any internal or external regulations.

Paraplanners must create many reports, such as suitability reports based on approved recommendations. Making use document generation software along with template reports enables paraplanners to produce standard documents consistently and efficiently, increasing their productivity.

Ongoing reviews

Paraplanners support the preparation of review documentation including portfolio review and financial planning. The relationships built with clients are often long-term, and having excellent communications with them is vital.

Keeping clients informed of the progress of work can take much time, but it is an integral part of the role. By leveraging automation, paraplanners can automatically update end-clients and advisors with the current status of a case.

Paraplanners can organise recurring reviews through the use of a diary-based reminder system, that can keep everyone informed of a pending review, automatically.


Paraplanners save financial advisors time, making them more productive. The right technology, including, CRM, Document Management, Workflow Management, Report Generation and Communication Automation software, can be leveraged to improve the productivity of paraplanners.

SwiftCase helps thriving businesses, swamped by growing demand, automate and organise, to focus on what matters — loved by 1000s of users across Insurance, Finance, Legal, Service & Contractor sectors.

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