LGT Wealth Management UK LLP is a UK-based partnership, wholly owned by the private banking group LGT, which is in turn owned by the Princely Family of Liechtenstein. When we set up LGT Wealth Management in 2008, our aim was to offer a fresh approach to wealth management. Alongside the LLP we also have two other entities which focus on US and Jersey based clients. Our head office is based in London however we have a presence in Edinburgh, Jersey, Leeds, Birmingham and Bristol. The plan was simple: put our clients first by providing a transparent service, designed around what is right for each of them. By drawing together in-depth knowledge and experience from across the industry, we provide a flexible, bespoke service adapted to each of our clients’ needs.
Our mission is to create long-term value for all stakeholders. Our culture encourages individuals to generate, develop and implement ideas which will strengthen our business. Belonging, respect, integrity, conviction and entrepreneurship are our core values. As our brand recognition grows, we are fast becoming an employer of choice in our sector. We have over £29 billion in funds under management and circa 700 staff.

Business Unit – Wealth Planning

The Wealth Planning team is responsible for the provision of comprehensive financial planning advice to individuals, companies, partnerships and trusts. We work with our clients to create bespoke financial plans, considering the whole of the market in order to find the best financial planning solutions. We are involved in a broad range of activities including:

• Cash flow analysis
• Psychometric risk profiling
• Retirement planning
• Pension aggregation
• Income tax planning
• Inheritance tax planning
• Business planning
• Protection for death and illness
• Long term savings and investments
• Offshore and international planning for non-domiciled and non-resident clients
• Venture Capital Trust, Enterprise Investment Scheme and Business Relief advice

Brief Role Objective

The primary role of the Paraplanner is to provide a full professional and technical support function to both Senior Wealth Planners and Wealth Planners in meeting the client’s financial objectives. The Wealth Planners being supported may be based in the London office or across LGT’s UK regional offices (Bristol, Birmingham, Edinburgh, Manchester and Leeds). The Paraplanner will be based in the London office.

The Paraplanner may also be required to carry out other duties allocated to them by the Senior Wealth Planners, Wealth Planners, Compliance team, Administration Manager or Paraplanner manager to meet the wider needs of the Wealth Planning team.

Key Responsibilities

Preparation and maintenance of client files

• Collect and analyse client’s financial information and work with the Senior/ Wealth Planner to determine strategies for meeting the client’s financial objectives.
• Ensure that all compliance documentation is recorded in line with LGT Wealth Planning’s procedure manual and FCA guidelines.
• Accurately record client information and documentation within ‘Intelligent Office’ back office management system.
• Identify and obtain the information necessary to complete a cash flow model (if required).

Cash flow planning (if required)

• Interpret data received from the client and build a cash flow model using our cash flow modelling tool.
• Ensure that all data input into the cash flow modelling tool is accurate and correct.
• Build the cash flow model with consideration to the client’s financial circumstances and objectives.
• Prepare an analysis document which details the outputs and key findings from the modelling, in line with the requirements of the Senior/ Wealth Planner and client.

Advice and recommendation

• The Paraplanner may attend client meetings with the Senior/ Wealth Planner (as required).
• Research and record all technical and product data relevant to the client and to the specific advice we are providing.
• Research should be undertaken both independently and alongside the Senior/ Wealth Planner.
• Provide technical support to the Senior/ Wealth Planner regarding specific queries relating to the advice we are providing.
• Analyse the client’s existing products/ financial arrangements to determine suitability in meeting the client’s objectives.
• Work with the Senior/ Wealth Planner to identify suitable solutions to meet the client’s objectives.
• Undertake financial calculations relevant to the financial advice.
• Manage the preparation and completion of comprehensive financial advice letters and suitability reports in line with LGT Wealth Planning’s procedure manual. Ensuring any recommendations are detailed in a clear, concise, jargon free manner. This would include (but not limited to) retirement planning, estate planning, cash flow reports, or financial strategy plans.
• Ensure that all client data detailed in our financial advice letters and suitability reports is accurate and correct.
• Ensure that the correct advice sign off is obtained prior to issuing the financial advice letters and suitability reports.
• Liaise with the client’s LGT investment manager, legal advisor, accountant and tax advisers, etc (where applicable).

Oversee implementation of recommendations

• Ensure the advice file is in order prior to passing onto the Administration Manager for new business submission.
• Oversee the completion of application forms by the administration team prior to issuing to the client.
• Work with the administration team to oversee the implementation of the agreed recommendations.

Prepare for client reviews.

• Act as main point of contact with providers / third parties.
• Where required update existing cash flow models.
• Research and record on file technical and product data relevant to the client’s annual review.

Administration

• Although the team has an administration team primarily responsible for liaising with third party suppliers; the onus is on the Paraplanner to ensure the administration is completed in a time-efficient manner. This may involve letter writing, chasing letters of authority, and chasing information from third parties.
• In the absence of the administration team, the Paraplanner will be expected to undertake their own administration.

Knowledge and Qualifications

• CII Advanced Diploma in Regulated Financial Planning or equivalent
• Working towards the CII Advanced Diploma in Regulated Financial Planning would be desirable.
• 3 years’ experience working within a holistic Paraplanning role. Candidates with less experience will be considered provided they can demonstrate they meet the requirements of the Paraplanner role.

Skills and Attributes

• Excellent understanding of the financial planning and the regulatory advice process is essential.
• Excellent understanding of the compliance requirements within a financial planning team.
• Good knowledge of financial planning products and how to assess suitability relative to the client’s objectives.
• Ability to produce bespoke advice reports in clear and concise manner.
• Methodical and practical approach to work and delivering of financial advice.
• Good planning and organisational skills and able to prioritise own workload and meet agreed deadlines.
• Ability to manage expectations for both internal and external parties.
• Keep up to date with regulatory and legislative changes.
• Continue to maintain a high level of technical financial planning knowledge.
• Be honest and have integrity.
• Attention to detail.
• Experience of using cash flow planning software (Voyant would be desirable).
• Experience of Inteligent Office (iO), Synaptics Research and IRESS Exchange would be preferable.
• Advanced Microsoft excel skills would be desirable.