How many suitability reports do you write a month?

....or maybe the discussion title should be how long is a piece of string!!

I would be interested for everyone's thoughts on this and what you are achieving on an average month.

I am becoming extremely frustrated with my boss at the moment who has an expectation of each paraplanner to complete 20 cases per month.

Am I right to feel this is unrealistic and depends on the type of case we are dealing with at that time.

This thread does link in slightly with my other post of managing workflow and time keeping as i am trying to pull together enough MI to prove my point.

Comments

  • Your first sentence hits the nail on the head for me as there's just so many variables to consider e.g.:

    • Whether you do pure report writing or more general PP role i.e. how much time do you have to spend actually report writing vs doing other tasks such as calculations, meetings, preparing meeting packs, processing applications etc
    • Quality of file e.g. KYC, objectives, meeting notes
    • Experience of paraplanner
    • Tools available e.g. dual screens, decent report templates, the right software for the job (cashflow, Selctapension, FE Analytics etc)
    • Distractions e.g. phone calls, questions, location (e.g. office vs home working)
    • Type of case; clearly an ISA top-up is going to be a lot quicker to write than a DB report

    However, "it depends" is an easy answer so I'll try to give you a bit more to work with. I currently target my team with 5 cases each per week, but there's a number of caveats that go with that so I'll explain my thinking as I suspect that isn't the answer you wanted!:

    • I came up with a simple grading system to try and get around the problem of comparing the varying workloads of different paraplanners. I based this on the fact that if you've got a half decent file from the adviser and allowing for a bit of admin either side of writing the report and other small tasks, an experienced paraplanner should be able to write 1 pension switching report a day (say with 3 existing schemes to analyse).
    • So, a grade 1 case is an 'easy' case that takes less than half a day e.g. ISA top-up. A 2 is a normal case that takes between 1/2 and 1 day e.g. the pension switching example above. And a 3 is a hard case that takes more than 1 day e.g. DB transfer, or multiple advice areas or complex cases.
    • This means I might have 1 paraplanner who's done 10 x grade 1 cases (10), another who did 5 x grade 2 (10) and another who's done 3 x grade 3 (9). At first glance it looks like 1 person is smashing it and another is not doing too well. However, they've all got broadly the same 'score' of 10 so I'm happy.
    • In my experience, for our paraplanners a target of 5 grade 2 cases a week is actually closer to 4 when you factor in other tasks, report amends, answering phones, meetings etc.

    20 cases a month might be a perfectly reasonable expectation. Then again, it might be a bit of a stretch. How many are you managing to do and what type of cases are you working on?

    Jonny (paraflex)
  • Average of 1 a week for new business/new client.

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