For many paraplanners and financial advisers, the instinct to take on everything in-house comes from a good place – control, quality, trust. But as firms grow, compliance becomes more demanding, and clients expect more hands-on support; the cost of doing it all starts to show.
And it’s not just financial – it’s strategic.
A recent J.D. Power survey revealed that 28% of financial advisors lack sufficient time to dedicate to their clients. Paraplanners, too, often get bogged down in admin-heavy tasks that could be automated, delegated, or outsourced.
The hidden cost? Burnout, bottlenecks, and slower growth.
Outsourcing doesn’t mean letting go of quality or losing control. It means being strategic about where your time, energy, and team capacity are best spent.
Here are some common signs it might be time to explore external support:
If reports or advice documents are consistently delayed, client experience and retention can take a hit.
When weekends become workdays, sustainability becomes a question.
If a paraplanner is updating product research databases instead of analysing strategies, that’s a mismatch.
Recruitment, onboarding, and training add up, and so do the delays.
If you’re considering outsourcing, don’t rush in. Start small – pilot one function, test turnaround, check quality, and get team feedback. The goal isn’t just to get the job done; it’s to integrate support in a way that enhances your firm’s rhythm, not disrupts it.
Also, consider partners who understand financial services inside out, not generic admin providers. A paraplanning support team that knows your regulatory environment, tech stack, and client expectations can make all the difference.
Outsourcing isn’t about scaling fast – it’s about scaling smart. The firms that grow without burning out are the ones that know when to hold on and when to hand off.
If you’re ready to explore what strategic outsourcing could look like for your practice, come and speak with us in person.
befree Global will be at the PA360 Conference in the UK on May 1, 2025 – meeting with financial advisers and paraplanners to talk real-world solutions, not just theory.
Not heading to PA360? No problem.
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