IFP board member Richard Allum CFPCM has said that Paraplanning is crying out for new blood, as demand for Paraplanners outstrips supply, and with significant numbers intending to move into Financial Planner roles.

Mr Gow, co-founder of the Paraplanner Powwow Down South, which took place for the third time on Tuesday, said this had been one of the hot topics discussed by guests at the event.

He said: “People don’t know the role exists. I think we need to start shouting more widely about what we do. We need to go to schools, colleges, and universities, there are so many things we can do.

“Lots of Paraplanners are keen to get involved with this - we’re talking about going into schools and colleges and letting people know what we do. I think that will see action on that in the short to medium term, lots of people are speaking about it.”

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He also backed Mr Allum who told Financial Planner Online last week that graduates doing degrees such as history and geography should be targeted, rather than just obviously related financial subjects.

Mr Gow, co-owner of Argonaut Paraplanning in Reading, said: “I think that’s bang on, my background is science. There’s a certain type of mind suited to Paraplanning and it doesn’t have to be numbers related.”

Attention to detail, research and analytical skills are important, he said.

In terms of the message to school leavers and graduates, Mr Gow said: “It’s not talking about Paraplanning as just a stand alone role, it’s that it might progress into Financial Planning or financial advice, but it’s telling them it’s a role with long term prospects.”

For many in the profession it has been a career they have fallen into “through a series of circumstances rather than leaving school or university and saying we want to do that,” he said.

Nathan Fryer, co-organiser of the London Powwow, which was hosted by 7IM, agreed that widening the scope for the type of graduates was important.

Mr Fryer, owner/director of outsourced Paraplanning firm Plan Works, said: “There are other areas that we should probably be focusing our efforts to target people.

“Last year I took on an intern in the summer – an economics student - and I think it really opened his eyes to alternative options out there.

“I think it’s about getting out to the universities and talking about Paraplanning opportunities, whether it’s a career stepping stone or what they want to be.”

Mr Allum said Paraplanning has a “huge mountain to climb” to attract enough new graduates.