At the same time, I have seen businesses with paraplanning departments that might well be profitable, but they have no idea how the paraplanning function might contribute to that. Profitability has been luck, rather than judgement.
Logic says that paraplanners should be a key contributor to the profitability of an advice business. After all, the idea of a paraplanner is to give an adviser more time to spend with clients.
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It’s what clients want, too. The thing clients value most about the relationship with the adviser is face time.
carmen.reichman@ft.com
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