Summary of responsibilities

The senior financial planner position is a support position that helps to create capacity and leverage the time of the lead advisors (LAs) on the team. The primary responsibility of the SFP is the ongoing management of existing client relationships and the retention of clients. Although the SFP is the most applicable title given to this role, other titles used in the profession include senior associate, associate, and senior paraplanner.

SFPs are responsible for constructing financial plans by managing the financial planning software, inputting client data, building scenarios, creating a final deliverable for clients, and presenting these deliverables. SFPs also keep financial plans current and help to answer all financial planning/investment-related client questions. They will attend client meetings with the LA, take extensive notes, and regularly correspond with clients.

SFPs work closely with LAs, providing the above technical support. SFPs do not have any business development responsibilities, but they may have firm responsibilities such as assisting with internal projects and strategic initiatives and delegating client administrative and operational tasks to other specialized team members as they see fit.

General Support

• Supports the LAs with analysis, client service, and technical assistance
• Continued learning of technical skills to prepare to service the clients as independently as possible to create capacity for the LAs

Analytical Support

• Attends client meetings and takes extensive notes; participates in investment and financial plan review, updates suitability information, and oversees meeting preparation and follow-up
• Analyzes client information and prepares reports and presentations
• Enters information into financial planning software and prepares financial plans
• Delivers financial plans to clients; explains data and assumptions in addition to interpretation of results
• Analyzes asset allocation for client accounts held in-house and outside of the firm
• Researches investment managers and insurance products
• Creates custom spreadsheets or leverages prebuilt spreadsheets/software for analyzing purchase decisions or planning scenarios

Client Service

• Answers planning/investment-related questions for clients
• Presents product information or options to clients
• Manages requests for transfers of funds in and out of accounts
• Delegates instructions/forms to appropriate colleagues to open or maintain accounts
• Interfaces with the broker-dealer or custodian to obtain information or account data and convey service requests

• Maintains information and/or delegates data for CRM system
• Assists in generating reporting as required/requested by clients or LAs

TEAM INTERACTIONS

SFPs report to an LA and work regularly with the same small set of LAs throughout the firm. SFPs may have formal management responsibilities and often help to mentor/train paraplanners and client service associates (CSAs) as well as help these team members continue to grow and develop their own skill sets. SFPs often seek mentorship from LAs, who may or may not be their managers.