A Day in the Life of a Paraplanner at Rosewood Wealth Management

In the previous article in our ‘Day in the Life of’ series, we explored the role of a mortgage administrator through the lens of Abigail Denman. Continuing with our series, this article aims to offer an insight into the job of a paraplanner.
As we continue to explore the typical roles and responsibilities of each of Rosewood’s unique team members, this article will highlight the industrious paraplanner, Jenny Gray. By drawing on Jenny’s personal experience and perspective of her position at Rosewood, it is hoped that readers will discover a newfound understanding of this specialised administration role.

Every working day is unique

Having been a valued member of the Rosewood team for over a year, Jenny continues to provide vital administrative support to the company. Currently qualified as a Level 4 paraplanner, Jenny’s work covers a wide range of financial products such as pensions, Individual Saving Accounts (ISAs), life insurance and investments. Working closely with Director and Advisor, Donna Robertson, Jenny insists that no one working day is ever the same. Despite the diverse nature of the position, there are some typical tasks associated with her role that Jenny regularly engages with. For example, one such task involves researching the best product available for a client before it is presented to them. Once the research stage is complete, Jenny compiles a written report outlining the suitability of the product. Consisting of product research, illustrations and cash flow analysis, the report is an important document to ensure that clients receive the bespoke, detailed financial advice that Rosewood prides themselves on offering.

Learning and growing as a team

Providing her take on what a typical day at the office involves, Jenny reveals that her day usually begins with her leading the ‘morning huddle’. Tasked with creating and delivering a short 15 minute ‘huddle’ presentation for the Rosewood team, the content must be either educational, motivational or both whilst also engaging. One such presentation recently provided by Jenny aimed to reaffirm the team’s knowledge on pensions. In order to do so in an engaging manner, Jenny wrote key pension terms and definitions on a large whiteboard. Having arranged them randomly, team members were encouraged to work together to match the terms with the correct, corresponding definitions. By presenting the factual information in this interactive way, the task of learning becomes more appealing and thus the facts are more likely to be remembered.

From strength to strength

With over 20 years of experience working in the financial services industry, Jenny acknowledges that there are positives and negatives to being a paraplanner. Initially attracted to the position because of the administrative responsibilities which shift her focus away from client-facing interactions, Jenny remains dedicated to helping clients achieve their financial objectives. Especially passionate about assisting clients with their investments, Jenny finds it incredibly rewarding when clients are able to grow their funds with her guidance.

Reflecting on the challenging aspects of the job, Jenny states that the heavily regulated and ever changing  nature of the industry means that she has to be responsive and adapt to change effectively. One way in which Jenny attempts to combat this is by regularly familiarising herself with the weekly Bankhall bulletins which provide updates on compliance and regulation set out by the Financial Conduct Authority (FCA). Further strategies Jenny adopts include completing annual statutory training, as well as working through regular Continuing Professional Development (CPD) modules. Alongside her mandatory work duties, Jenny is completing an ongoing Level 6 Advanced Diploma in Financial Planning to obtain a Chartered Financial Planner status. This will enable her to build on existing knowledge about paraplanning, whilst also strengthening her skills within the financial planning industry.

It’s all about the research

When questioned about what qualities an effective paraplanner needs, Jenny asserts that they must be organised and have an analytical mind. This is because of the vast amount of reading and research required to successfully inform recommendations. Having completed an undergraduate degree in English, Jenny draws on the transferable analytical and research skills developed to successfully complete her work. Due to the necessity for interaction with clients over the telephone, Jenny believes that paraplanners must also be able to deal with clients fairly and professionally. Before considering a role in the financial planning industry, Jenny suggests that prospective paraplanners should familiarise themselves with the industry. She also suggests that those interested in the position are prepared to complete administrative tasks, whilst also being comfortable with the expected qualifications needed for the role.

Working with Rosewood

Speaking about her experience working at Rosewood, Jenny reveals that she prefers working in the office as opposed to working at home. This is because of the calming, positive environment created by the team and the inviting physical space of the building itself. With the unwavering support of her colleagues, Jenny feels encouraged to achieve her full professional and personal potential. Furthermore, Rosewood’s offer of flexible working hours enables Jenny to have a good work-life balance. In her spare time, Jenny enjoys spending time with her family and friends. As a passionate runner, Jenny can often be found taking advantage of the scenic surroundings of Chesterfield.

Future thinking

As we reach the end of the article, it becomes clear that the role of a paraplanner provides vital administrative support to businesses in the financial services industry. Jenny’s position at Rosewood means that her work provides important research and analysis which forms the basis of the financial advice offered to clients. Reflecting on the future, Jenny hopes to continue to develop her skills at Rosewood through the completion of her advanced diploma. With the support of her colleagues, Jenny looks forward to what the year ahead will inspire on a professional and personal development level.