Virtual paraplanning service for financial advisors

Paraplanning services

for Financial Advisors

We exist to help financial advisors save time, minimise costs, improve efficiency in creating financial plans, and strengthen relationships with clients with our virtual paraplanning service.

Hire Our Dedicated Virtual Paraplanners

At Brokers’ BackOffice, we understand the complexities of managing a financial advisory business. Balancing client needs with business growth often leads to tight deadlines and operational challenges—that’s where we can help.

Engaging our offshore virtual paraplanners lets you focus on client relationships and complex planning while we manage compliance requirements.

Our offshore paraplanners are skilled in analysing client needs, researching and recommending financial products, preparing reports, updating records, managing compliance, invoicing clients, and producing SOA & ROA documentation, among other tasks.

Book a free consultation to explore how our services can benefit your business.

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Characteristics of our offshore-based virtual paraplanners

Qualified professionals

Most team members hold a Bachelor’s or Master’s degree in finance, equipping them with the expertise needed to excel in diverse financial roles.

Industry knowledge

Our paraplanners have a deep understanding of Australian laws, tax codes, and regulations, ensuring that Statements of Advice are compliant and meet client needs.

Technology proficiency

Our paraplanners excel in using XPLAN for financial modelling, CRM systems for client management and document management systems for secure data storage.

Flexibility

Our Australian experienced offshore paraplanners work Sydney hours, offering the flexibility to choose between full-time (40 hours/week) and part-time (20 hours/week) options to best suit your needs.

Interested in providing the best advice to your clients?

Here’s how our virtual paraplanners can support your needs:

Save time and money

Our paraplanners allow you to focus on building client relationships while saving up to 70% on employment costs.

Robust Data Security

As an ISO 27001-certified provider, we ensure top-tier data security. Our team operates from secure workstations equipped with the latest antivirus and firewall technologies.

Global talent pool

With offices in India and the Philippines, we access a diverse and skilled workforce, offering you top talent from both countries.

Local management

You’ll have an Australia-based account manager for seamless communication and oversight, ensuring smooth integration of our services with your operations.

Industry expertise

We specialise in mortgage broking and financial planning, and our MFAA membership ensures our paraplanners meet industry standards.

Why is outsourcing paraplanning beneficial?

Outsourcing paraplanning is an effective strategy for financial advisers to expand their team and client base without the overheads and complications of direct hiring.

This approach reduces costs, adapts to fluctuating demands, and maintains compliance and efficiency while avoiding recruitment issues and operational delays.

Our experienced paraplanners, with backgrounds in various financial advisory firms, offer tailored support for all needs, from routine tasks to comprehensive annual reviews.

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Action items

Our offshore-based virtual paraplanners can perform the following tasks effectively and efficiently.

Generate statements of advice (SoA) and records of advice (RoA) for new and existing clients.
Prepare and maintain detailed financial plans and strategies tailored to client's needs and goals.
Complete Wealth Solver and Risk Research tasks.
Edit Word documents to produce Statements of Advice.
Monitor and track financial market trends, providing timely insights and updates to advisors and clients.
Work closely with the compliance team and upper management to ensure SoA and RoA documents meet compliance standards and maintain high quality.

Perform data entry of client information into Xplan or other CRM systems.
Ensure all client interactions and advice comply with regulatory requirements, maintaining high ethical standards.
Assist in preparing and reviewing client portfolios to maintain alignment with investment objectives and risk tolerance.
Conduct comprehensive research and analysis of financial products to provide well-informed recommendations to clients.
Handle administrative tasks, including updating client records, managing correspondence, and organising documents.

If you consider this beneficial and would like to know more about our offerings, please book a call with our expert team today.

FAQs

A virtual paraplanner assists financial planners by handling their technical tasks, such as preparing reports, conducting research, managing compliance documentation, and more.

This support allows financial planners to focus more on client acquisition and providing personalised services to existing clients, which enhances their overall capacity and efficiency.

In other words, you can achieve more without needing to expand your office space. If you're not ready to hire an associate advisor or another full-time employee, a part-time paraplanner from Brokers' BackOffice might be an ideal solution.

Getting started with a virtual paraplanner at Brokers' BackOffice involves scheduling an initial consultation to discuss your specific needs and goals. During this consultation, we assess your requirements and match you with a suitable paraplanner.

Once the paraplanner is assigned, they will integrate into your practice, taking over designated tasks and working closely with you to ensure smooth collaboration. This process helps establish a clear understanding of expectations and workflows from the outset.

Our virtual paraplanners are equipped to handle a wide range of financial planning tasks, including preparing financial plans, conducting detailed research, managing compliance documentation, and performing routine administrative duties.

Their comprehensive skill set allows them to support financial advisors in delivering high-quality, compliant financial advice. However, it is essential to discuss your specific needs during the initial consultation to ensure the paraplanner's expertise aligns with your practice's requirements.

Data security and confidentiality are paramount in virtual paraplanning services. At Brokers' BackOffice, we implement stringent security measures to ensure the utmost protection. Our measures include secure workstations with up-to-date antivirus and firewall protection, encrypted communication channels, and secure file-sharing systems.

Our commitment to ISO 27001 certification guarantees that we maintain the highest standards of data protection. This certification ensures that we consistently implement best practices for information security management. By adhering to these rigorous standards, we safeguard sensitive client information against unauthorised access and breaches.

If you are not satisfied with the work provided by your virtual paraplanner, it is important to communicate your concerns promptly. At Brokers' BackOffice, we address your feedback and make necessary revisions to ensure your satisfaction. We offer a satisfaction guarantee and may reassign a different paraplanner if issues persist. Our commitment to customer service ensures that your practice receives the support it needs to operate effectively and efficiently.