I didn’t get into paraplanning because I needed a job. I was on a mission to gain experience and hours for designations. This was part of a bigger “quest” to satisfy my need and desire to help others with money.
It’s impossible to tell my paraplanning story without also telling a bit of my personal story.
So… Why Paraplanning?
First, let’s back up a little so you can understand why I was getting into financial planning in the first place. My wife and I had become debt-free, then kind of stopped there. Once we had our son, I started thinking more long-term and became more serious about our finances.
Fast forward, I finished my bachelor’s degree and had a little extra time. I kept my habit of getting up every morning at 4:30 a.m. and reading while I had my morning coffee (still do). In that time, I started reading personal finance books – lots of them!
In a 5-month period, I read 32 personal finance books (according to my Kindle, probably more in physical form). I eventually figured out that all these books were just the same basic information in different voices. If I wanted to learn more, I needed to go back to school. I was also growing accustomed to helping my Soldiers with their finances.
Long story short, I eventually stumbled upon a profession called Financial Planning. This might sound silly, but I literally had no idea this was a thing. I found The American College through a Kitces blog article. Then I applied for and received a full-ride, military scholarship for their CFP® and ChFC® coursework.
Enter Paraplanning: The Ultimate Financial Planning Side Quest
Soon, I discovered I needed experience hours to earn either of the designations I was studying for. I started looking locally for internships, but I still had a full-time job with the Army. I joined the local FPA, reached out to local firms around the base, but nothing really fit.
I eventually found the XY Planning Network (XYPN). Then I started reaching out to all the advisors listed in the military and veteran category on their website. This turned out to be a fantastic idea!
I met virtually with many advisors, who would eventually form the Military Financial Advisors Association (MFAA). This is largely the same group that created the Military Qualified Financial Planner (MQFP) designation I have as well. In a call with Daniel Kopp from Wise Stewardship Financial Planning, he mentioned paraplanning as an option.
I had no clue what paraplanning was, but he explained a bit and pointed me toward Alex Hopkin at Simply Paraplanner. I connected with her on LinkedIn, set up a call, and joined their Paraplanner Portal. If you’re thinking about a paraplanning career, this is an absolute must!
Getting My First Job as a Paraplanner
I quickly consumed every piece of content on the Simply Paraplanner site. I attended a Simply Paraplanner virtual happy hour, and they discussed setting up a website. That night, I fired up my laptop and created the first version of the site you’re on now.
I continued doing informal interviews with other financial planners. This helped me learn more about the profession and explore internship and work opportunities.
My first big break was landing a writing gig (yeah, I didn’t plan on that one either). I also did some plan-building and other admin/technical work. At that point, I was officially a paraplanner (and content writer?)!
Paraplanning Takes a Pause
I had another job doing some content writing, but it wasn’t really the right fit. The first firm I was working with had grown quite rapidly. They soon hired an associate advisor and didn’t really need my services. I’m incredibly grateful for them taking a chance on me!
This was okay because I was taking on more responsibility at work with the Army. Remember, I was doing all of this “in the margins” of my active-duty Army career. And yes, that’s allowed (needs approval), and yes, it’s possible (I’m proof!).
Regardless, I knew there wouldn’t be any room for paraplanning while I was a First Sergeant. As the kids say, if you know, you know (IYKYK). Paraplanning was on pause during that time.
Finding the Right Planner-Paraplanner Relationship
Eventually, I moved to a different position, and my wife became a stay-at-home mom again. This meant I had a little more capacity and more need for side-hustle income.
Once again, I started reaching out to financial planners. I had heard about the Kansas City Financial Advisors Network (KCFAN) on Taylor Schulte’s Experiments in Advisor Marketing Podcast. We’re planning on moving back to Kansas City when I retire from the Army, so it made sense to reach out to some local firms there.
I met with almost all of the KCFAN advisors and landed the perfect paraplanning job. The pay worked out, the hours worked out, everything. Perfect!
I’m still working with Clint at NextGen Wealth today. My goal is to keep him happy as long as possible, so he’ll keep me around! He’s been an outstanding paraplanning client, sage mentor, and great friend!
Why Call Paraplanning a Side Quest? Why Not Full-Time?
In reality, paraplanning can be a full-time gig. I know several paraplanners who do this full-time. For me, paraplanning has been a great way to get paid and gain experience in the financial planning industry. It’s been a fantastic side-hustle and makes me feel much more confident about my transition out of the military.
Some paraplanners want or need flexibility. Others are career changers like me. Right now, it meets my needs.
However, I absolutely thrive around other people. Point in case, I’ve started a tradition of losing my voice at MilMoneyCon every year, talking to everyone. Will I eventually need more in-person interaction? Maybe.
So, What’s Next?
I’ll keep paraplanning and running my own personal finance blog, Enlisted Money, for the foreseeable future. I’m retiring from the Army soon and will work in financial planning (mostly) full-time. I can’t say exactly what that will look like yet, but it’s all coming together.
When I started, I had no idea what financial planning was, what paraplanning was, or that you could get paid to write for other people. I just followed my heart and curiosity. Those have served me very well so far! It’s for all these reasons that I believe paraplanning is my ultimate side-quest!