The launch of a paraplanning service to support advisers and clients has been announced by Access Financial Services.
The firm said the service will offer advisers “expert” aid in researching, analysing, and creating the best financial offers for their clients.
It hopes to allow advisers the ability to concentrate on delivering "top-quality" financial guidance while the paraplanning team handles the administrative and analytical tasks to underpin the advice.
Access Financial Services detailed that the service will be delivered by a dedicated team of highly trained professionals, who will work closely with advisers to ensure all client needs are met.
The service comes as an enhancement to the administration services that Access Financial Services introduced in October 2022.
It said this service will free up to 70 per cent of an adviser’s time with some trebling the amount of mortgage and protection business they write as a result.
Karl Wilkinson, chief executive officer at Access Financial Services, said: "We regularly ask our advisers to identify the main challenges hindering their ability to write more business, and then explore ways to provide support.
“We noted that at times senior advisers were overburdened and required additional assistance, while some less experience advisers needed guidance to kick-start their journey in the industry.
“To address these concerns, we have introduced a paraplanning service, which also offers specialised support for complex cases, which can prove to be challenging for some advisers."
Wilkinson also stated that the service will will enable Access's advisers to deliver more "effective financial advice" to clients, while freeing up their time to focus on providing expert guidance and support to help clients achieve their financial goals.
Access Financial Service mortgage adviser, Mike Tebbut, added: “In the time since I was invited to take part in the trial phase of the new paraplanning service, my business has seen a significant increase in efficiency and productivity.
“I am now able to provide clients with more comprehensive and tailored mortgage advice, which has resulted in a higher conversion rate and increased customer satisfaction.
“The fact that I can now tackle more complex cases, knowing I have support on hand, has helped me remain competitive in the market and grow my business.”
The launch comes after Access Financial Services revealed that it had reached 200 advisers following an “unprecedented” year of growth.
tom.dunstan@ft.com
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