I was fortunate to be able to attend the second meeting in the last quarter of 2008 of the Working Group developing the National Occupational Standards (NOS) for paraplanners at the Financial Services Skills Council (FSSC).The meeting followed on from the original meeting in which we discussed the role of the paraplanner and the typical tasks a paraplanner would undertake.
The company writing the NOS (PyeTait) had produced some draft documentation which we discussed in some detail and made a number of changes to. The idea being that we would achieve some consensus from all the working group members as to the actual tasks a paraplanner performs and where they fit into the Financial Planner / client relationship.
The meeting was highly enjoyable and once again highlighted to me the different types of roles paraplanners have within different organisations.
It always amazes me the different ways in which paraplanners are used within different companies and the different tasks they are asked to perform. Different companies have developed their own ideas of what a paraplanner is and what a paraplanner does and I hope that this process will allow us to take all of these different roles, take the best parts and produce something which gives a clear idea of the role of the paraplanner.
The next stage of the process is that the original draft will again be refined once or possibly twice or possibly even more times before the Working Group are happy that is accurately reflects what they believe a paraplanner should do. It is not intended to be prescriptive in that anyone who is a paraplanner will undertake ALL of the tasks but it is intended to say that a person who calls themselves a paraplanner is likely to undertake a number of the skills and competencies to a lesser or greater degree depending on the needs of the particular business they are working in.
It is hoped that a consultation document will be available for public consultation at some time in early 2009 and it will be then that we will be asking you all for your input into this.
As practising paraplanners we are the group of people who can have a direct influence on the way our job role is perceived and used in the future. This opportunity won’t come our way again so it’s important that we all take up the mantle and be vocal in out contribution.
The job role of a paraplanner is being established and it’s important that your voice is heard.
As soon as I have anything further I will let you know however if you would like to know more in the meantime please get in touch.
Martin
