LEBC, which has offices in London, Birmingham, Bristol and Edinburgh, among many others, reported rising demand for Paraplanning services.
With 21 Paraplanners already employed at the firm and providing substantial experience, Jeremy Macleod, LEBC’s chief operating officer, said there was scope to recruit bright trainees as opposed to requiring vastly experienced professionals.
He said the resources at the firm made it the right environment for novices to come on board, with plenty of Paraplanning staff to help them learn the ropes.
He said: “We currently have 21 Paraplanners located throughout the UK. We anticipate recruiting another five to ten in 2016.
“We have more than doubled our Paraplanning resource in the last two years and anticipate a further 20-50% growth in the coming year as demand for our services is growing significantly year on year.
“This is largely due to work engaging with large corporate pension schemes and providing tailored advice to their employees. We have an appetite to grow our Paraplanning and consultancy resources significantly in the coming months.”
He said: “When you have a large team of Paraplanners you have a natural environment to bring in less experienced Paraplanners, you’re not so dependent on going for the high level experienced ones.
“There are lots of bright capable people looking for their next career move. It’s nice to think we are the greener grass that might appeal. We can recruit in that space quite cost effectively.”
The firm also employs 77 consultants, with the prospect of five more joining in the near future. Consultant numbers have grown by over a third in the last two years, it said.
Mr MacLeod emphasised how important he feels career progression is for his Paraplanners.
Sometimes Paraplanners lack confidence in their own ability to take a further step up in their careers, he said, adding it was about “seeing talent in them that they might not see themselves”.
He said: “Sometimes Paraplanners don’t realise how good they are and they are almost stifled by a lack of ambition. The idea of being adviser is being so daunting, with all the responsibility and options on the market place.
“I’ve been advising 23 years and I know all about it but if it was moving in to it for the first time I’d find it very daunting.
“A Paraplanner who is not being given the opportunity of career development from their employer to become an adviser should consider moving to an IFA firm that has the scope and will provide that opportunity otherwise that individual will end up feeling trapped and in a rut. I think it’s very important.”