Raymond James ramps up advisor support with paraplanning service
Raymond James has taken a significant step forward in supporting advisors’ ability to deliver comprehensive planning with the addition of a new service. Through its new paraplanning services offering, the firm is providing on-demand, in-house support from experienced paraplanning professionals, enabling them to further integrate financial planning into their practice.
The service, which is based out of Raymond James’ St. Petersburg, Florida, headquarters, is designed to assist advisors in leveraging the firm’s goal planning and monitoring software tool to create detailed financial plans for clients.
“Raymond James was founded on the belief that clients deserve advice that considers their entire financial picture, and that principle is still at our core today,” Frank McAleer, senior vice president of wealth planning at Raymond James, said ina statement. “Paraplanning Services are designed to help advisors more efficiently leverage and scale our robust planning capabilities.”
To accommodate various financial planning needs and objectives, Raymond James is offering two levels of engagement through its paraplanning services. Advisors can opt for hourly services, which include the ability to transfer client financial plans from other software or tools into the goal planning and monitoring tool, or to input new client and prospect data.
Under the comprehensive service option, advisors can collaborate with a paraplanner to build a new plan or analyze an existing plan. Paraplanners may also co-present the plan or findings directly to clients under this option.
“Paraplanning Services creates capacity for advisors to focus on holistic financial planning for their clients at various phases of their business,” said Lindsay Noah,
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