Quality Integrated Paraplanning Solutions

How To Leverage On Quality Integrated Paraplanning Solutions


As the number of people who offer integrated paraplanning solutions in Australia increases, so do the options for financial businesses. The key reason why businesses choose to outsource is to benefit from the cost saving that is likely to be achieved with Quality Integrated Paraplanning Solutions. There is little discussion on the value-adds that result from the function of outsourcing. If your business is currently considering using paraplanning Australia, there are certain tips that you can use to ensure that the outsourcing arrangement is working well for your  business. Here are a few methods that can help you to achieve that.

Consider the support that you need to integrated paraplanning solutions

A common misconception that users of outsourced paraplanning services have is that in order for the services to be effective, it should be on a full-time basis. This belief is not true and there are different ways in which businesses can ensure that outsourcing is working for them. Some of the methods include:

  • Replacing your in-house teams with the outsourced paraplanning services
  • Contracting the outsourced paraplanning to produce documents that are technical and complex while choosing to maintain SOA( which is simpler) in-house
  • Using the outsourced quality paraplanning to manage periods of overflow, when staff are on leave or when they are sick.
  • Engaging the service and asking them to complete certain SOAs that cover various scenarios of advice and using these are your staff’s training and reference tools.

Ensure that things get right at the beginning

A common misconception that advisers have on outsourced paraplanning is that it can be time consuming for the advisers to keep checking the advice and to keep amending it regularly unlike when they choose to do the SOA themselves. The complaint has been a source of concern as it is an indication that the outsourced  paraplanning in Australia has not spent ample time at the beginning of the relationship to understand a specific business and also familiarize themselves with the individual process as well as the advice style. Even though it is possible to set up paraplanning support in an instant, if a relationship is to be mutually beneficial and long lasting, it is important for both parties to spend time at the beginning to understand the individual business process.

Make the quality paraplanning service to be part of your current team

While the outsourced paraplanning doesn’t have to be located inside your office, you need to take measures that include them in your team. No matter where they will be located, you should speak with paraplanners to give them an update on your business such as guiding your dealer group/licensee, changes in templates, changing your APL and sharing BDMs updates with them.

Consider your current processes and templates

The general rule of thumb is that it is a good choice when you choose to partner with practices that have a process that is clearly defined and is combined with the efficient use of CRM. If you do not have a template that is efficient and with clear processes and standards texts, this will in most cases mean that you will waste more time seeking after clarification and information from your advisers. On top of this, there can be an increase in errors and mistakes as the paraplanner will be required to enter twice the information of the client, their complete projections and the calculations in a manual way.


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