Paraplanner profile: Focusing on the individual

We spoke to Freya Cade, Paraplanner at Chattertons Wealth Management, to find out what she's been focusing on this year, what trends she is looking out for and her summer plans.

What are the biggest topics for clients this year?

I think there has been a notable shift in pension planning and retirement planning, especially since the Autumn Budget. Clients that had previously viewed pensions as both a retirement tool and an IHT strategy are now wanting to sit down to think about the structure of their retirement plans alongside tax planning for the next generation and it has opened up some really interesting conversations and subsequent planning.

It is important for clients, regardless of what stage in the wealth planning journey they are in, that their holdings are as tax efficient as possible. Finding the right strategy for each individual client, or family group is always at the forefront of our planning, and as such is a leading topic for clients too.  

Are there any top tips for being effective in your role?

Be organised and be enthusiastic! Time management and organisation is obviously a vital part of the job, to keep on top of everything, but I can’t help but think that a bit of extra enthusiasm helps too! Although most paraplanners tend to have limited client interaction, it is always well received by clients and colleagues alike when you are enthusiastic, and keen to help. I love a challenge; to be effective and efficient in the role you have, to be ready to learn and adapt.

Which decisions do you find hardest in your role?

Probably the colour scheme of the performance graphs in my reports! In all seriousness, a lot of tough decisions are made by the advisers, especially when client facing, but that doesn’t mean that paraplanners don’t make them too. From deciding how to present information to clients and advisers, to managing workloads and prioritising jobs, every decision has a knock on impact.

Which trends are you watching closely in the industry?

An interesting ‘trend’ is the use of AI in the paraplanning role. I’m hoping to become an adviser in the short term, and I think it will be hard to replace advisers with AI, but I think it would be a real shame if we lost any of the industry, especially paraplanners, to AI. There is a place for it, of course, but as an enhancer, not a replacement.  

Markets have also been pretty wild this year, so I think we would all be lying if we aren’t just a little bit interested in what Mr. Trump does next, and the impact that this has, not only on American markets but the world. Otherwise, my guilty pleasure is a bit of tax planning, so I like to keep an eye on VCT offerings, Business Relief and AIM markets.

Are you using AI in your role or across the business at all?

We use tech, but AI hasn’t really made it into my firm yet. I don’t think that is necessarily a bad thing. I think that clients and advisers like the personal touch that individual paraplanners bring to the table. Our reports are personalised, and delivered with a true sense of understanding for the person behind the name on the paper. AI can’t deliver that yet. AI has been somewhat helpful in the role for scenarios such as a quick summary of sources when researching particular funds, or looking to cite some case law etc.  

What are you reading or watching over the summer?

I’m reading and trying to complete AF6 (because Chartered status won’t achieve itself!). I have horses which I event outside of work, so I don’t have much spare time for the TV, but I am currently re-watching "The Summer I Turned Pretty" on Amazon when I have a few spare minutes!