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ValentaBPO > Blog > Improve Efficiencies with Outsourced Paraplanning
Improve efficiencies with outsourced paraplanning

Out of the many ways of managing administrative and several other financial planning tasks, outsourced paraplanning is a highly efficient one. Just like in-house paraplanning, it focuses on several aspect like fund selection, cashflow analysis, financial plan preparation and other detail oriented tasks in the financial planning process. So, how is outsourced paraplanning different from its in-house counterpart? Let’s take a look below.

Understanding the tasks of an outsourced paraplanner
An outsourced paraplanner is a trained and qualified professional. They are adept at tasks that revolve around several processes involved in administering financial records for clients. In addition to that, outsourced paraplanners can help with the following:

  • Handling compliance issues
  • Analysis of statistics
  • Research for investments and providers as per requirements

Why outsourced paraplanning services

Services that you should outsource to an efficient paraplanner

A broad range of paraplanning services can be outsourced to efficient companies. When it comes to Valenta, here is a list of all the services you can avail:

Debt optimization and reduction
We understand the day to day operations of a Financial Planning business. This is what enables us to come up with strategies that would work in your favor. When it comes to debt-related functions like optimization and snowball debt reduction, our professionals will ensure that all requirements are handled quickly and accurately.

Retirement plans
Our professionals are also adept at services like retirement income planning, TERI and maximization of pension or social security.

Laddering strategies, roth conversion and more
In addition to the aforementioned services, our paraplanning options also include the 9 circle strategy, gifting strategies, cash management and so on.

Advantages of outsourcing paraplanning

Advantages of opting for our outsourced paraplanning services
You can save a lot of trouble and time if you outsource your paraplanning work. Here is a list of such advantages:

Saving time:
The best part about hiring outsourced paraplanners is that they can take full advantage of the time difference and have quicker turnarounds as they are sitting in a different time zone altogether.

Cost cutting:
Unlike in-house paraplanners, the outsourced professionals can help you save your money in several ways. They do not need yearly appraisals and the fixed costs are usually only renegotiated every few years.

Saving on overhead costs:
In addition to cutting down the costs when it comes to paying the professionals who are working for you, you can also expect significant cost reduction in areas like recruitment, IT, rent, paid leave and so on.

Access to a wider talent pool:
With outsourced paraplanning, you can enjoy better access to a wider skillset as you have the flexibility to connect with paraplanners who are trained in different skills and software.

Paraplanning as a stepping stone:
The fact that many in-house paraplanners tend to use paraplanning as stepping stone towards becoming a financial planner can be a little problematic to a business. That is why it is a better idea to outsource your paraplanning work and avoid the hassels of training an employee only to have them leave once they move towards becoming a financial planner.

Better flexibility:
An outsourced paraplanning firm tends to be more flexible and is able to quickly ramp up and down resources as per your requirements. This is often not the case when it comes to in-house paraplanning.

Valenta BPO outsourced paraplanning services

The services offered by Valenta are tailored to the needs of our clients. This is one of the reasons why Valenta is one of the largest paraplanning firms in the world today. In addition to our paraplanning services, we are adept at financial administration and advice. This ensures that our clients receive dedicated professionals when they opt for outsourced paraplanners who are then trained in the client’s processes and styles, effectively making them an extension of the client’s team.

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