Paraplanning has become more important and though often seen in the past as a way point to becoming a financial adviser, it has now emerged as a career in its own right.

What qualifications do I need to become a paraplanner?

There is no minimum qualification to become a paraplanner, although like a financial adviser, most employers will expect you to be at least Level 4 qualified.

Who provides these qualifications?

The Chartered Insurance Institute (CII), The London Institute of Banking & Finance (LIBF), and The Chartered Institute for Securities and Investment (CISI) all provide RQF Level 4 qualifications.

All three of these examining bodies also offer qualifications aimed specifically at paraplanners.

What are the routes to becoming a paraplanner?

The main route is through employment by joining a bank, insurance company, pension firm or advice business in an entry-level position.  Some paraplanners may have gained experience as a financial services administrator before moving into their paraplanner role.

Do I need a degree?

No, you don’t need to go to university to become a paraplanner, though some people get a degree first.  Either way you will need to do your qualifications and some firms may support you while you do this.

How long does it take and what does it cost?

To reach RQF level 4, the recommendations is around 400 study hours.  Most people gain this qualification while working, so expect it to take a few months to complete.  

Most entry level paraplanning positions require a few years of experience in financial services first as an administrator.

Qualifications cost around £1,000 but remember some firms in the industry may fund this on your behalf.

 How much do paraplanners earn?

Salaries start at around £30,000 per annum.  With career progression, you can expect to earn £50,000 plus for more senior roles, and it could be a gateway to becoming a financial adviser.