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International Women’s Day this year was a good chance to discuss women in finance, on both sides of the coin.

Our Director, Jo Campbell, did just this in an article for Money Marketing, where she considers how treating people equally does not always mean treating them the same.

Click here to read the full article.

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MiFID II has been in force for over two years and still, we find there is a lot of debate as to how best to approach Periodic Suitability Reviews. There are enough articles and blogs covering this topic in general, and we aren’t looking to rehash old territory. However, we still see discussions on the best approach to cover certain aspects, one of the main ones being costs disclosure. Read more on this from our Lead Paraplanner, Kate Hall in this article from Nucleus. 

A study produced last Summer by NextWealth and the Personal Finance Society has illustrated that we are the leading supplier of outsourced paraplanning, used by more than double the number of firms than our nearest competitor.

As a company, we’re absolutely delighted with this outcome as it provides recognition and testament to the 11 years of paraplanning support we’ve provided within the industry. A mixture of providing excellent service to existing clients and business growth through referrals has ensured our leading position within the industry.

Summary of the report contents

NextWealth and the Personal Finance Society (PFS) have published a comprehensive benchmarking study for financial advice businesses covering the profile of financial planners and their firms, the future of financial advice businesses, investment propositions, technology infrastructure and outsourced support.

The results are based on an online survey of 482 PFS members conducted between 11 and 24 July 2019.

Insight included in the report

  • The average age of financial planners is 49 and 20% are female.
  • 39% of financial advice businesses have recruited in the past year.
  • 82% of financial planners use ESG solutions for 7% of client assets.
  • Financial planners use between 2 and 3 discretionary fund managers.
  • Between 3 and 4 weeks pass between the first point of contact and the first piece of advice is delivered to clients.
  • The average cost to onboard a client is £1,543.

 

Talk to us about your paraplanning requirements.
Dwight Scaife – Client Relations Manager