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What is virtual paraplanning?

Investopedia defines paraplanning as “performing the administrative duties of a financial planner. This function was created to allow financial planners to focus on working more closely with clients”.  Depending on the paraplanner this may include some administrative assistant type work, but they specialize in the back office work.  As Michael Kitces describes, the work can include building financial plans, researching unusual financial planning questions for the financial planner, and updating financial plans.

Virtual paraplanning is a wonderful solution for solo RIA’s who need more capacity. Your home office doesn’t need another person underfoot, but you need to take those first growing steps because you’ve hit capacity and desire more.  You need to keep your costs down by hiring someone part time.  You live rurally, or in such a big city that traffic and commutes are miserable, and so you already work with your clients virtually.  All of these are great signs a virtual paraplanner is right for you.

Wood Financial Services LLC provides virtual paraplanning services to financial advisors,
specializing in solo-entreprenuer comprehensive financial planners with their CFP designation,
who already work virtually with their clients, and who want to mentor their paraplanner as a jack-of-all-trades doing things their way.

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