I’ve been thinking an awful lot about how I can best help financial planners in their entrepreneurial journey. As a paraplanner, I focus mainly on fee-only RIAs. Quite on purpose, I tend to work almost exclusively with XYPN members. I understand their tech stack, I understand their value propositions, and I have yet to meet an XYPN member that I didn’t think was an amazing person. As a matter of fact, my best mentors and first opportunities came from XYPN firms. I first reach out to members that specialized in military and veterans.
Insert Virtual Paraplanning
I have found that virtual or sometimes called remote paraplanning was a good fit for me. As of today, I still work a full-time job while also working on my Certified Financial Planner (CFP) designation. This means that I need to work “in the margins”.
The flexibility of virtual paraplanning has given me the ability to gain knowledge and experience that would not have been possible otherwise. Surprising to me, I have actually been paid to write content more than anything else. I really enjoy this work as well.
A Paraplanner-Sized Hole
Over time I’ve realized that I fit very well for small RIAs in their initial growth phase. There’s a spot between where the firm is viable (getting cash flow positive) and full capacity that often exists. This is where help would be really nice, yet time to train someone is scarce.
However, hiring a full-time employee isn’t really viable yet. This is where I feel I can add the most value. I am still learning, but I’m not a “newbie” anymore. I enjoy creating and running scenarios in planning software like RightCapital, eMoney, or MoneyGuide. I also enjoy writing unique content for marketing too.
So What?
My goal is to be a (mostly) turnkey solution to fill the gaps that solo or small RIAs have. I offer flexible and professional work no matter what. My commitment to the planners I work with is to do my absolute best work. I only charge for time on the clock. I never get paid for idle time. If I make a mistake, I fix it no charge (this seems like a duh policy). I’ve been thinking a lot about switching up how I bill to add even more flexibility for advisors. However, I’m not sure what that looks like yet. I’m still working on it.
What’s Your Perfect Solution?
If you’re a small or solo RIA looking to fill a “paraplanner-sized hole” in your firm, I’d love to hear from you. What’s the “perfect” solution for you?
Please shoot me a note at brandon@yourvirtualparaplanner.com and let me know what that would look like for you. I might be the right “shape” to fill that hole in your operation, but if not, I will certainly do my best to help you find someone that is.