Robo adviceRobo advice has become a buzzword in the Advice space. As one of the services Paperwork Magic provides is paraplanning, Robo advice has caused a bit of discomfort for the people here who support real life human financial planners. Understandably, they are concerned whether this trend is a threat and from what I have seen, the answer is an emphatic “no”.

There is no way to replace the human element that good paraplanning brings to the table. Paraplanners take a basic template and use it to create a Statement of Advice, injecting human goals, needs and wants, inserting the client’s voice into the Objectives – which is different to paraphrasing what the client has said in the Adviser’s voice, or in a neutral, templated voice.

Paraplanners add a human touch to an executive summary, they also cover off on the fears, worries and concerns that motivated the client to come in and seek advice.

There are also the bespoke pieces of Advice – multiple entities with complex strategies incorporating accountancy, taxation, estate and financial planning to protect generational wealth. Knowledge of the rules, regs and legislation along with creativity with numbers and a deep understanding of the client needs – this is where the personal, human touch is irreplaceable.

If you need some Paperwork Magic in your life, with real human support, we look forward to seeing how we can assist. Contact us here.