Paraplanners still in demand
Despite the current market volatility and uncertainty a strong demand remains for financial planners, according to the latest eJobs national survey.
Job ads in the category have risen 4.5 percent over the last three-month period and are 17 percent higher than the same period last year.
In the latest survey of 1,100 paraplanners, of the 4.5 percent who responded 70 percent were no longer acting as paraplanners. Those surveyed cited career progression as the main reason for leaving the profession.
The survey indicated many had found themselves in education and compliance positions within dealer groups and major banks. The remaining 30 per cent indicated they were enjoying their roles and had very positive comments to make regarding the industry and the work they undertake.
Senior paraplanners tend to earn between $60,000 and $75,000 per annum, depending on the State they are working in and whether they are in a metropolitan centre or not.
The eJobs analysis said filling vacancies with experienced paraplanners is now the challenge.
The analysis suggested it was clear that those who had progressed in the industry believe the profession gives them a firm grounding and that they are making a valuable contribution.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
