Paraplanning

Paraplanning

About ParaMe
ParaMe

ParaMe is a bespoke service for financial advisers, providing support in all areas of Wealth Management and Mortgage advice (including Equity Release).

The 'Suitability Report' is one of the most important documents in your business. It is the document that is retained by your client to enable them to make an informed decision and it also reflects your company, its professionalism, ethics and brand. It must demonstrate the suitability of your recommendations to your client based on their circumstances, to any third party such as the Financial Conduct Authority (FCA) and/or Financial Ombudsman Service (FOS).

It is important that the ‘Suitability Report’ is concise, easy for a client to understand and demonstrates why your recommendations are suitable taking into consideration their circumstances and attitude to risk.

Having a bespoke, tailored ‘Suitability Report’ that ensures a good client outcome and reflects your business & brand can take time. We understand that ‘time’ is a precious commodity and there are just not enough hours in the day, this is where ParaMe can assist you. We can review your existing suitability report and assist you in improving it, if needed, or we can build a bespoke suitability report that is tailored to your business. At ComplyMe we offer a Paraplanning service (ParaMe – Paraplanning made easy) where you can outsource all your report writing.

Utilising our Paraplanning service can release valuable time which can be used to engage with more clients.

Outsourcing your report writing rather than employing a full time member of staff can result in significant savings in national insurance, holiday pay, pensions and all the usual costs associated with an employee. ParaMe support can be as little or as much as you need, as our service is designed with the small to medium firms in mind. We aim to support you at any time you need it whether it be ongoing or ad-hoc advice.

ParaMe can do the 'work behind the scenes' and let you focus on seeing more clients and potentially growing your business.

Disclaimer

Para-Me is a sub-brand of ComplyMe. ComplyMe is not authorised or regulated by the FCA to give financial advice. We will undertake research and draft a report based on the client information provided by you and ensure it is compliant. You should ensure you are happy with the content of the report and that it reflects your wishes as you are ultimately responsible for the advice.

Every firm has slightly different processes and the Para-Planning Service you receive will be tailored to meet your needs. Please note these fees are dependent on all information being submitted.

The prices below do not include VAT.

Below are our typical fees for different types of written advice: -
PARA-PLANNING SERVICE

Typical Charges

ItemPrice
Individual Protection £ 200
Key Person/Relevant Life £ 250
Shareholder Protection £ 250
Product recommendation including investment analysis (new money) £ 300
- Additional Product/Wrapper £ 100
- Tax wrapper analysis £ 50
Investment review and recommendation £ 300
Replacement Business/product switching £ 300
- Each Additional Product £ 100
Annuity Recommendation £ 250
At Retirement Recommendation £ 300
Pension switching
(including comparison of charges and investment analysis)
£ 300
- Each Additional Pension £ 100
Income Drawdown recommendation
(including sustainability and investment analysis)
£ 300
- Each Additional Pension £100
Defined Benefit Transfer Value Recommendation £ 500-1000
Defined Benefit Member Lifetime/Annual Allowance assessment £ 500-750
Equity Release £ 300
Long Term Care £ 300
Inheritance Tax Planning analysis and recommendation £ 300
- Including trust planning plus £ 150
- Including BPR solution plus £ 150
EIS/SEIS/VCT/BPR due diligence and recommendation £ 350
Written Advice templates/checklists POA
Annual Review Suitability (without any additional investment) £300
Cashflow exercises (every additional cashflow £25) £50
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