All topics


Advice Trends in Outsource Paraplanning

Advice Trends in Outsource Paraplanning

Paraplanning trends are rapidly evolving, particularly within the realm of outsourced paraplanning services. VBP, the largest outsourcing company specialising in financial services and back-office solutions for Australian financial planning businesses and licensees, is at the forefront of these developments.

With over 250 clients, we generate hundreds of advice documents every month across our paraplanning division. Analysing this data provides key insights into the current landscape of financial advice in Australia.

Key Trends in Outsourced Paraplanning

According to our data, superannuation strategies are the most popular among Australians seeking financial advice from our clients. This is followed by retirement planning strategies and personal insurance strategies.

Despitesurging inflation and cost-of-living pressures, the number of advice documents being produced has been increasing. With the growing demand for this service, providers of outsourced paraplanning services need to maintain the highest standards in both quality and compliance, including ISO22001.

Emphasis on Quality in Paraplanning Services

With the ever-changing advice landscape, there has been an emphasis on high-quality paraplanning services. This is reflected by some licensees creating panels of approved providers to ensure they meet privacy and security standards in delivering advice to their adviser network. It has also led to greater scrutiny of outsourced paraplanners, as financial planning businesses look to ensure that their advice production partners are meeting these higher standards.

The Future of Outsourced Paraplanning

To remain competitive in the evolving financial planning industry, it is crucial for practices, licensees, and providers such as outsourcing partners, to embrace changing trends and technological advancements. This enables us to deliver much-needed advice to clients in a cost-effective and efficient manner.

Outsourced paraplanning services are becoming increasingly vital for financial planning businesses looking to scale their operations and enhance their service offerings. By leveraging the expertise of outsourced paraplanners, businesses can focus on client relationships and strategic growth, leaving the technical details to seasoned professionals.

Embrace Change and Raise The Bar

As the demand for financial advice continues to grow, the role of outsourced paraplanning will only become more critical. By staying ahead of trends and maintaining rigorous standards, VBP can ensure to deliver top-notch, compliant, and efficient services to clients. Embrace the change, keep raising the bar, and leverage the benefits of paraplanning services to drive success in the financial planning industry.

Partner with VBP for Outstanding Outsourced Paraplanning Services

Our team of expert outsourced paraplanners is dedicated to delivering high-quality, compliant, and efficient advice documents tailored to your needs. Join the 250+ clients who trust VBP to enable their businesses to thrive in an ever-changing world. Contact us today to learn more about how we can support your growth and success in the financial planning industry.

About the Author
Siddhi Padia, Technical Lead- Paraplanning
Siddhi brings over 13 years of experience working at large licensees in their paraplanning and quality assurance divisions. She is responsible for ensuring operational excellence within our Quality Assurance team, and provides professional and technical support to our paraplanning team.

Subscribe to the VBP newsletter

Stay tuned to our latest stories through your email.

A Platform for adviser firms to scale and leverage

Improve back-office operation, reduce cost and improve task turnaround time.

Most read articles

Related topics

More related articles

Subscribe to
the VBP newsletter

Stay tuned to our latest stories through your email.