Freelance paraplanners should be looking to forge relationships with lawyers and accountants as a way to expand their business, according to Heidi Witham.
Heidi Witham, who founded Absolute Paraplanning in 2008, said lawyers often needed help choosing where to deposit client funds.
‘What I have been looking at in the first instance is helping lawyers when they have to decide what bank to deposit client money in. If anything happens to that bank the lawyer needs to be able to show there has been due diligence and a report written on that decision,’ she said.
Heidi Witham said there was a crucial distinction between advisers and paraplanners that can protect paraplanners sitting between accountants, lawyers and other institutions.
‘The key thing is that any work done is under the lawyer or accountant’s liability so it is clear you are doing something they have asked you to do.’