Paraplanners are integral to many financial advice businesses – their expertise and knowledge are highly valued, and many advisers would be lost without them! But sometimes, some paraplanners find themselves considering if their skillset is more suited to advising, especially as they understand better than anyone how advisers work and what their day-to-day looks like.
For those looking to take their career in a new direction, where they can utilise their technical know-how and directly help clients, transitioning into advising can be a logical career change. Read on to discover how Carly capitalised on her skills as a paraplanner to become a financial adviser.
Carly had previously worked as a paraplanner before she joined SJP Partner Practice, Blackfin Wealth Management, in 2017. She made the exciting (and brave!) decision to join SJP as a self-employed adviser – without any clients. She explains: “It was daunting, but I needed to have the right mindset and attitude. I knew I needed to be self-employed due to my personality type. You must come in with your eyes wide open. It’s not easy being self-employed, but for me, it’s worth it.”
Paraplanners are an integral part of many financial advice businesses. Their expertise and knowledge are highly valued, and they’re in an ideal position to leverage their skills, qualifications and experience to become a financial adviser.
Carly’s technical skills and knowledge from her time as a paraplanner have undoubtedly helped her as an adviser. “I used to work on all types of cases. I think each area of the advice process should work together, and thanks to my time as a paraplanner, I understand what’s needed and the full advice process.”
The transition to advice from paraplanning was a natural one for Carly: “I don’t miss paraplanning, as there are still elements of my previous role in my current one. For example, even if I’m not writing a suitability letter personally, I’m still doing the recommendation, like I did in my previous career.
“I really enjoy being able to do both the social and the planning aspect of my role. I now help clients directly, and these people often become friends. I get a huge amount of satisfaction from the advice I offer, which can change my clients’ lives.”
The Academy application process is thoughtfully designed to ensure that an informed decision is made about whether this opportunity is the right fit for you, starting with a meaningful conversation.
Carly’s first-hand experience echoes this sentiment: “Normally, when you interview for jobs, you promote your capabilities without knowing much about the team you’re joining or what lies ahead.
“What drew me to SJP is their focus on getting to know the individual rather than a traditional interview process, ensuring the best outcome for both parties.”
Paraplanners already have the technical knowledge to start a career in advice, and the Academy is designed to develop the soft skills and confidence needed to join an existing Partner business or even launch your own. With mentorship, coaching, and face to-face client training, Academy Advisers are supported every step of the way. “You’re doing this for yourself, not by yourself.”
Carly explains how the SJP advice model aligns with her needs. “SJP’s offering is incredibly vast, and operating within a restricted model isn’t a concern. With such a diverse range of funds, it’s practically impossible for an IFA to assess every single one. If SJP remains updated with funds and continues enhancing its proposition, the model will work seamlessly for myself and my clients.”
Carly Oliver is a Financial Planner for SJP Partner Practice, Blackfin Wealth Management.
To find out more about the opportunities with St. James’s Place Financial Adviser Academy, check out their Featured Company Profile page.
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For more information on the different paths to becoming an adviser, including qualifications, exams and salary information, check out the Financial Planner Role Profile below.
Still pondering how paraplanner and adviser roles differ? Read our related article Paraplanners and Financial Advisers – What is the difference?
