Paraplanner Zone: Broadway Financial Planning

Julie Wycherley of Broadway Financial Planning made the unusual move from agriculture to paraplanning.

Q. You are quite unusual in that you studied agriculture. What prompted the about turn into finance?
A. I guess like a lot of people I wasn’t totally sure of what I wanted to do. After I completed an HND in agriculture, I worked in a variety of sales roles and then landed in Countrywide as a PA to the financial services manager and found I really enjoyed working in finance. I came here initially as a temp for someone on maternity leave and loved it, so when the person decided not to return I jumped at the chance of staying on. The office environment is great: nice people, nice office and it is great to have something to aim at after having two children. Plus the flexibility in terms of working hours suits me. I work four days a week from 9am to 4.30pm.

Q. You are the first paraplanner I have spoken to who is actually called a paraplanner. Was that a conscious decision on the company’s behalf?
A. Very much so. It seems the title is bandied about quite liberally, with the result that often people who work in more of an admin role are given the term, which can be quite confusing for clients, I think. There is a clear distinction made here in terms of the role of paraplanner and administrative staff.

Q. You are training towards becoming a certified financial planner. Do you ever see yourself moving into an IFA-type role?
A. To be honest, I’m studying towards becoming a certified financial planner more to improve my credentials as a paraplanner, rather than for any definite career goal in the IFA direction. I am very new to the role, so there is a lot to learn and this is a much-needed step just to fulfil my current role to the standard expected. I am not 100% sure what I want to do in the long term. It is hard to say if I will end up in a financial planning role or not, as while that may seem like a logical progression, I really enjoy what I am doing at the moment.

Q. Can you talk me through your average day?
A. There is typically lots of research, then inputing details of new clients and creating financial plans and reviewing cashflows, preparing investment reports, looking at asset allocation and then discussing the findings with the IFAs. I also do agenda preparation for client meetings and strategic plans for next year. We’re trying to increase the client contact I have, so I am sitting in on a lot more client meetings, so the client becomes familiarised with me and can come to me as a first port of call.

Q.  What are the key paraplanner skills?
A. It’s very important to have excellent organisational skills and be able to prioritise ruthlessly, because you are constantly running between planner and admin staff. An analytical mind is also an asset of course.

Q. What is the most rewarding part of being a paraplanner?
A. I love the variety, but also the fact that I am learning as I work is great. It is very stimulating knowing I’m working towards something.

Q. What are your top tips for paraplanners?
A. It is vitally important to be able to get on with your planner. But it’s also important to be able to feel comfortable questioning them. That way you can bounce ideas off each other. It may be different in a bigger office but here because we are such a small team I would say the ability to be able to get along is of paramount importance.