Top Ten – Qualities to look for in an Outsourced Paraplanning provider

It’s a busy time of year, fresh back from the Christmas break and heading towards tax year end. As the work starts to pile up, many advisers are looking at oursourcing their paraplanning. But what are the qualities you should look for in your oursourced paraplanning provider? We’ve complied a top ten list:

  1. Capacity: Ensure they have the ability to take on the volume of work you require.
  2. Continuity: Make sure they can cover sickness, holidays and other absences, either by having a team of people who know your working style, or by having a locum arrangement in place.
  3. Quality: Do they have samples of their work, so you can see what you are buying before you commit?
  4. Consistency: Your paraplanning provider should demonstrate their quality and professionalism in everything they do, including email communications.
  5. Qualification: Make sure your paraplanning provider employs staff with a suitable level of qualification, ideally not less than the level 4 Diploma.
  6. Experience: Your provider should be able to demonstrate years of industry experience in their profession, giving you faith and trust in their ability to apply their knowledge.
  7. Process: Ensure your provider has robust processes in place, to ensure the work you receive back is complete, accurate and on time.
  8. Philosophy: Look for a company with a philosophy and values that match your own, to provide a solid basis for a long term working relationship.
  9. Accessibility: Ensure your paraplanner is contactable when you need them. You should not have to wait days to have a call returned.
  10. Cost: There’s a wide range of charging structures and you will be able to find a company that suits your needs. Recommendations by word of mouth are ideal, but if the absence of a referral, is a good place to start your research.