The resilient paraplanner

Welcome to the third Scottish Widows Paraplanner Survey, our latest deep dive into the views, experiences and priorities of paraplanners across the UK. This research captures the pulse of a vital role that continues to evolve, adapt and assert its value within the financial planning industry.

Often described as the engine room of advice firms, paraplanners are the driving force behind the delivery of quality financial planning. From technical modelling and suitability documentation to platform due diligence and client communications, their work powers the processes that keep the advice function running smoothly.

Our survey of 200 paraplanners reveals a profession that is proud of its contribution, and proving resilient in the face of growing pressures – from regulation and rising workloads to the need for better-integrated technology.

We present three core themes for the resilient paraplanner:

Paraplanners are feeling the weight of increasing complexity. While many report high levels of job satisfaction, 94% say their workloads are rising, driven by regulatory demands, recordkeeping, and suitability checks. There’s also concern that new initiatives like Targeted Support could expand their responsibilities without clear guidance, adding further strain to already stretched teams.

Paraplanners are the operational backbone of platform management. They oversee due diligence, paperwork and data extraction, often across multiple platforms. A third use three platforms regularly, and most are satisfied with their current setup. However, switching remains a challenge, with time and admin burdens cited as key barriers. Service standards, reporting reliability and ease of data access are critical to their day-to-day efficiency.

Paraplanners are embracing AI to reduce repetitive tasks, with many already using it for meeting notes, suitability reports and fact-find automation. But they’re also cautious, calling for tools that are accurate, compliant and seamlessly integrated into their workflows. Their top priorities include tax calculators and suitability software that can reduce manual effort and improve precision.