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With the purpose of saving cost, time and efforts of 1700+ CFPs and 1 Lakh+ Financial Advisors in India. We at Investiture, brings up the solution called Virtual Para-Planning.
Virtual Paraplanning, is not a new-term or concept, it is very popular in the foreign countries like Australia, US, UK and in other Asian & European Countries. Employing the services of a Virtual Paraplanning gives financial planners/advisers the ability to outsource their Paraplanning needs to a highly experienced Professional that specializes in the preparation of
- Letter of Engagement
- Client’s Query Handling
- Back-End Documentation Work
- Mutual Fund Research Report
- Equity Research Report (On Both Fundamental & Technical Analysis)
- Portfolio Construction Report
- Financial Plan Creation or Statement of Advice (SOA)
- Reviewing Clients Progress
And many other Financial Planning Services
Thus, helps Financial Planner/Advisor to focus more on Client and to their Long-term Financial Goals without worrying about the office back-end work. A Virtual Paraplanning is done by a highly experienced Paraplanner/Self-Employed/Freelancer Professional/Person who is passionate to make career in the Financial Advisory Business i.e. who has decided to interchange from a traditional in office Paraplanning role:
To work from either a home office or within a contract Paraplanning firm
Virtual Paraplanner are like a virtual/remote assistant to all the administrative needs of a Financial Planner/Advisor. And the reason why they can be a valuable asset is that Virtual Paraplanner are cost-effective as compared to in-house Paraplanner/Investment Associates
We Transform Your Vision into Creative Results
Researching of Financial Instruments, Creative Content Marketing, Personalized Financial Plan Creation and other Back-End work needs & requires efficient professional manpower. And hiring one in-house includes cost. Thus, we try to resolve all such issues through our Virtual Paraplanner. Read our FAQs to know more.
Mr. Sanchit Taksali, CFP
Having more than 5 years of experience in Financial Modelling, Equity Research (both Technically and Fundamentally), Compliance, Coaching, and Advisory.
Frequently Asked Questions (FAQs)
In many foreign Financial Planning firms, taking advantage of the skills of Virtual Paraplanner’s to reduce the cost of the generation of the Financial Plan, Research Reports, Customer Supports and Data Review is what every small/big enterprises want as a piece of cake. To decide if a Virtual Paraplanner is the right fit for your business, you need to consider how much you need/want them involved in the advice process.
Generally, the ideal need for the paraplanner exists when the advisor is managing more than 100 clients. But due to different service providing model (AUM Based, Fee-Only, Fee-Based, Commission Based or others) the need differentiates with each advisor.
Typically a virtual Paraplanner works best where they receive a large majority of the advice & work already decided upon by the adviser.
The Virtual Paraplanner takes the advice, enters it into the advisers financial planning software, MS- Excel & Word, and generates the Recommendations/Advisory Statements, and then delivering back to the advisors as they needed to share/present to their clients.
Virtual Paraplanner’s can operate from anywhere in the world and it is important to gain an understanding of their location and how they protect your clients information. Data Privacy is as important as our clients. And knowing where the Virtual Paraplanner’s located, along it’s Profile is an important key tool to client’s Data Confidentiality.
We are currently based out in Jaipur, Rajasthan and will be planning on other states of the country, India.
Virtual Paraplanners are even ready to visit the advisor’s location (if needed, though the cost will entirely beard by the advisors himself) for promotion or awareness campaign purposes.
With the advancement of technology, our Virtual Paraplanners are connected to you via Phone, Skype, E-mail, WhatsApp or to whichever convenient mode is available.
Hiring a Virtual Paraplanner is like hiring a personnel. Thus, everything is similar like an in-house personnel. Here the difference only is virtual. As, we know it’s a long-term business relationship and require regular changes & updates for which we are flexible with the advisor/firm(s).
Therefore, we designed our Working Process in-line with a person working in-house. Thus, you need to:
- Firstly, share with us your needs & requirements. And then, we search & assign a Paraplanner who can fulfill the requirements.
- Once, we both arrive at an optimal solution. We request you to register with us by paying One-Time Nominal Fee (which will be adjusted with the Services, you opted for) along with a Short-Term Mutual Consent Letter.
- We understand your concern, for the work efficiency & effectiveness, thus we’ll make a 15 days work agreement.
- It is similar to the any kind of Freelancer work but in a professionally standardized format.
- After 15 days, we discuss with you regarding the services, issues or any changes. And then, if everything agreed upon, we request you to sign a Mutual Engagement Letter to continue with our services.
To take smooth advantage of Virtual Paraplanner services, we always suggest advisor(s)/firm to make timely payment as specified in the Agreement. As, these Virtual Paraplanner works for us in fulfilling our need. Thus, delaying in their payment leads either to the discontinuation of services/unsatisfactorily performances.
Just like every Individual doesn’t know, what kind of different task each Professional Financial Planner does for him/her?
Similarly, Virtual Paraplanner works for the Advisor. If any advisor is already using any existing software/tools for creating Financial Plans, Research reports and other documents for the clients.
We at Investiture, doesn’t sell/promote any kind of Financial tools/software. Our Paraplanner’s are for the advisor/firm(s) thus, we suggest to use your own software and provide limited access to only those content & data which you want from the Paraplanner to do it for you. (Confidentiality and Quality is always our Prime Priority).
In case, if any advisor is not using any software, then we either suggest them to buy one or use Investiture’s created software/tools at an extra cost.
Our Paraplanner keep working on learning new software and tools to give extra value added services to clients. Currently, they’re well experienced in software/tools like MS Office (Excel, Word, Powerpoint), PDF, EMoney Advisor, MorningStar Workstation, Omnimax Wealth, Perfios, G-Office Suites and others.
- Different virtual paraplanning solutions offer different pricing models.
- You may be asked to pay on a per plan basis, or agree to pay a set monthly fee, or daily fees. Depending upon the work & your need.
- The best structure for you and your business will come down to how busy your business is and the volume of advices/services you need to be created/served.
For any query, on how much does it cost you & the services you need,
Please mail Sanchit at
Engaging a Virtual Paraplanner can provide you with the flexibility you need to be able to produce high quality Advisory documents without the need to spend thousands of Rupees & Time on an in-house Paraplanning solution.
Spend a few hundreds trialing the Virtual Paraplanner and it will give you a comparative basis to decide which is the best solution for you, in-house or a virtual solution.