Other Citywire websites
Stay connected:

View the article online at http://citywire.co.uk/new-model-adviser/article/a649779

RDR hands boost to paraplanners

by William Robins on Jan 11, 2013 at 13:11

RDR hands boost to paraplanners

Paraplanners are set to cement their importance in the retail distribution review (RDR) world, according to a new survey that reveals the crucial role they play in IFAs’ investment propositions.

In a survey of 141 advisers by Essex-based outsourced paraplanning firm FinalytiQ, more than 74% said paraplanners would become more valuable in the RDR world. Although about 11% of advisers said they did not use a paraplanner, only 6.7% said they would continue to eschew their services over the coming year. Outsourcing is attracting more interest, with 9% of advisers saying they expected to use an outsourced paraplanner in the next 12 months, compared with 6% who outsource today.

Nearly a third of advisers said a key role of paraplanners was to sit on the firm’s investment committee, while one in four said it was to develop and document its investment process. About two-thirds of paraplanners perform platform and provider due diligence, while their most common role is research, analysis and report writing.

FinalytiQ principal Abraham Okusanya said: ‘Post-RDR paraplanners will be measured in terms of how much pressure they are able to take off an adviser. They will be crucial to offering a solid investment process that’s defensible and meets the test of independence.’

1 comment so far. Why not have your say?

George Kendall

Jan 14, 2013 at 04:35

A positive article on the effects of RDR for a change. It's about time the industry rewarded technical knowledge over sales patter chaff.

report this

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?

Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this article:

More from us

What others are saying


Sorry, this link is not
quite ready yet