The managing director of eJobs Recruitment Specialists has branched out to set up a new paraplanning outsource firm.
Trevor Punnett has rolled out Paraplanning Australia with AMP adviser Adam Ayash.
While Paraplanning Australia does not align itself with a larger institution, the firm will use software and templates from AMP, Paraplanning Australia general manager Trevor Punnett said.
"We're not beholden to AMP because we've got our own company. If anything they're going to help us with the software and the templates, we have our own professional indemnity," Punnett said.
"Adam is a non executive director. He's a shareholder so he's not taking part in the paraplanning. We have cleared it with AMP so there aren't any problems."
Paraplanning Australia has more than 70 contract paraplanners on its books. It is also training about 12 paraplanners at a paraplanning academy in a separate location.
Despite economic downturn creating a slowdown in the level of statement of advice (SOA) activity, the level of paraplanner competition is still high, Punnett said.
"There will always be competition and that's good. We want to be the competition, we're going in on the launch of ourselves slightly lower priced than our competition and we can do that because our cost base is going to be much lower especially training these other people up at the other location," he said.
Paraplanning Australia offers advisers with outsourced paraplanning services that include statement of advice, fast turnaround times and value for money.
