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I just finished listening to the latest IFA Talk podcast episode featuring Steve Nelson from the lang cat, where he discussed the findings of the recent State of the Advice Nation report. A big shout-out to Jo Wall from Joyful Wealth, a long-standing supporter of JG Paraplanning, who contributed significantly to the report. It’s always great to hear clients involved in industry-shaping conversations!
🎧 Click here to give this episode of the IFA Talk podcast a listen
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Here are some important notes I took away from the episode:
One of the key takeaways for me was the focus on communication between paraplanners and financial advisers. I’ve long been a strong advocate for improving this relationship to streamline the process and strengthen the profession. Better communication is essential for a seamless client experience and for elevating paraplanning as a whole. There are a ton of great tools we can have in our toolbox, but you can't use them effectively if you don't have that clear and consistent communication with the adviser.
Another point that really resonated with me was around professional identity. How often do we, as Paraplanners, find ourselves forced to select "I am an Adviser" on a provider's website because there’s no option for us? We’re not financial advisers; we’re paraplanners, and it's about time that distinction is recognised across the industry.
On a positive note, the future of Paraplanning looks promising. With the UK’s thriving financial services industry, roles like ours are critical for technical analysis, data collection, and pragmatic solutions. Our skills are not only crucial in financial planning but can be applied across many facets of financial services.
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Overall, I’m excited to see how paraplanning will continue to evolve and grow as a profession. Let’s keep pushing for better communication, stronger professional identity, and a brighter future for all of us in this space!