Paraplanner (Edgewater Associates Limited)

Isle of Man

Edgewater Associates Limited

Job Description

General Purpose


The role holder will primary work closely with and undertake technical research (including, but not limited to, producing client suitability reports, liaising with provider providers and reviewing existing investment/protection strategies) and provide support to the Independent Financial Advisor (“IFA”) team; a small element of the role will involve sitting in on client meetings with the relevant Advisor.


The jobholder will report directly to the Head of Client Proposition.


Hours: 9 am to 5.30 pm (Monday to Thursday), 9 am to 5pm (Friday)



Key tasks and responsibilities


  • Support in the development and maintenance of client relationships.

  • Assess client needs and produce an appropriate advice solution based on the fact find completed by the IFA.

  • Undertake technical research on a fully independent basis.

  • Assist the IFA team with research and creation of client suitability reports and Recommendation Analysis Forms (“RAFs”).

  • Obtain illustrations and any related documentation to support suitability reports.

  • Prepare in-depth calculations and performance data to support any recommends made in client suitability reports.

  • Work with the IFA team to technically validate advice provided and pro-actively challenge, when necessary.

  • Liaise with product providers/intermediaries with regard to clients’ policy issues, as required.

  • Attendance at and participation in Investment Committee meetings, including overseeing any preparatory work undertaken by the internal Investment Researcher.

  • Assist and support the development of trainee IFAs.

  • Maintain a comprehensive understanding of the products that can be recommended, including taking a pro-active approach in researching new solutions to meet client needs.

  • Provide training and support to the team in relation to the technical aspects of any products recommended.

  • Attend client review meetings with the IFA team to continue to broaden knowledge.

  • Attend training seminars / workshops to develop relevant knowledge, techniques, skills and acquire knowledge of new products / legislation.

  • Maintain an awareness of and compliance with all anti-money laundering legislation, regulations, policies and procedures relevant to Edgewater Associates.

  • Ensure client records and files reviewed are kept up to date.

  • Comply with all policies and procedures relevant to the role.



Principal Accountabilities


  • To demonstrate and apply technical skills, market and product knowledge to a level that will support business development.

  • To support a team environment that encourages the sharing of ideas and best practice.

  • To understand the practical application of the Isle of Man Anti Money Laundering Guidance Notes and how this will impact clients of Edgewater Associates.

  • Identify and promote cross-selling opportunities within the business and Group.

  • Promote the business externally through social and networking activities.



Knowledge, Experience and Skills


  • Proven experience in a para-planning role gained within an IFA or equivalent environment focused on holistic financial planning for private and corporate clients encompassing pensions, investments and protection.

  • Experience in the preparation of suitability reports and client letters across a broad range of product and contract types.

  • Strong research skills and detailed knowledge of pension, investment and protection products.

  • IT systems and software knowledge (including in-depth knowledge of Excel and Word).

  • Achieved Diploma in Financial Planning or equivalent.

  • Confident communicator.

  • Well-developed written communication skills, able to construct logical, clear and concise documentation appropriate to given audience.

  • Understand current regulations and how they apply to clients.



Working Relationships


Liaison with:

  • IFAs and Client Managers

  • Internal compliance and risk team

  • Industry product providers as required


Decision Making Authority


  • The jobholder is responsible for recommending financial solutions to clients.

  • Decisions relating to recommendation of product providers to Investment Committee.



Competency Framework


  • Commercial and Entrepreneurial Acumen Level 3

  • Customer Focus Level 3

  • Judgement Level 3

  • Sales and Marketing Level 3

  • Influencing Results Level 3



Contact


If you are interested in applying please contact Lexie Clarke on careers@mfg.im