As part of The Verve Group’s #FYIfinance series, our very own Alex Buckle was featured to give the low down on all things being a paraplanner…
Not many people have heard of the paraplanning role in financial services, including Alex, who explains how she got into the industry below…
“I first came across the role of a paraplanner whilst applying for jobs after my degree. Having studied Psychology, where my days were full of Pavlov’s dogs and Skinner’s pigeons, it was fairly daunting entering the finance world. I was initially drawn to the role, however, by the promise of a new challenge every day and that having an analytical mind would come in handy.
In terms of an average day in the life of a Paraplanner, it’s hard to say, as every day is different. But I will usually be writing reports and/or carrying out research. The latter can range from tax calculations to provider and investment strategy research, using various software, such as FE Analytics or CashCalc. In more recent times, I have also been more involved in rebuilding our reports, making them more fun, digestible and interactive, and the feedback has been very positive so far. I am fortunate to be a part of a team who strives to be bold, confident and introduce new ways of working together within the financial sector.
A big part of being a paraplanner is sitting exams to further our knowledge. Therefore, a big challenge is being able to juggle a busy day at work with revising towards exams, all whilst trying to maintain a social life and pretending that I like going to the gym. Time management, a strong work ethic and a willingness to learn are therefore very important as a paraplanner.
I have learnt a lot over my three years in role, and the various exams – from what a pension actually is, and why it’s important to have one, and how I should approach getting a mortgage. You know, all the useful things that no one thinks to tell you in school, but can really help in the real world.
My top tip for those seeking a career in finance (and to those who may not even know they are yet) – don’t worry if you don’t think you have the right experience to work in the financial sector. I can’t emphasise enough how little I knew about finance before working at Para-Sols. In fact, it’s probably like a game of ‘Where’s Wally’ trying to find someone who did a Finance related degree in our office. There are so many life skills that are transferable to a role in finance. For example, in our office, we have roles which rely heavily on skills in terms of marketing, organisation, technical knowledge, time management, and the list goes on.”