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How to Become a Paraplanner: Australian Careers in Financial Planning

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What is a Paraplanner?

What will I do?

What skills do I need?

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What is a Paraplanner?

A paraplanner helps financial advisers by preparing plans, research and documents for clients. They are a key member of any financial planning team. The role suits people who enjoy working with numbers and writing clear reports.

Paraplanners gather client data. This includes income, assets, debts and goals. They use that data to build plans and financial projections. They also research products such as managed funds, insurance and super to back the advice given by advisers.

Day-to-day tasks include building financial models, drafting Statements of Advice and keeping client records current. Paraplanners make sure all documents meet ASIC rules. They liaise with clients, product providers and financial firms on a regular basis.

Paraplanning is a strong entry point into financial services. With experience and further study, many move into associate adviser or financial adviser roles. Demand for paraplanners is strong across Australia.

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Career snapshots For Paraplanners

Paraplanning is a full-time, permanent role in Australia’s financial services sector. Most paraplanners work 38 to 40 hours a week in planning firms, wealth managers and banks. Demand for the role is growing as more Australians seek financial advice.

Salaries range from $90,000 to $105,000 a year on average (SEEK, June 2026). Entry-level roles start around $75,000. Experienced or senior paraplanners can earn $120,000 or more.

The FAAA reports substantial and growing unmet demand for financial advice across Australia (FAAA, 2025). This is driving demand for paraplanners who support the delivery of that advice. Paraplanning is also a clear path to becoming a licensed financial adviser via the Professional Year.

What will I do?

A paraplanner supports financial advisers by handling the technical and admin work behind every client plan. They gather data, build models, prepare documents and keep the advice process running on time.

  • Gather Client Data – Collect financial details including income, assets, debts and goals from clients and third parties.
  • Analyse Financial Records – Review client documents to find strengths, gaps and planning options.
  • Build Financial Models – Use planning software to model retirement, investment and insurance plans across different scenarios.
  • Prepare Statements of Advice – Draft SOAs that outline strategy options in line with ASIC rules.
  • Research Products – Review super funds, managed investments and insurance policies to find suitable options for clients.
  • Support Client Meetings – Prepare presentations and documents for adviser-led client review meetings.
  • Maintain Compliance Records – Keep client files updated to meet Australian Financial Services licence rules.
  • Liaise with Product Providers – Contact fund managers, insurers and platform providers to gather data or process requests.
  • Monitor Rule Changes – Stay current with ASIC rules, super law and tax changes that affect financial plans.
  • Provide Admin Support – Help with scheduling, correspondence and file management to support the advice team.

What skills do I need?

A good paraplanner needs a mix of technical and people skills. They must be at ease with numbers and financial software, and must produce accurate, well-structured documents.

Key technical skills include financial modelling, report writing and knowledge of products such as super, managed funds and insurance. Skill in Xplan or AdviserLogic is a big plus. Paraplanners must also know the rules set by ASIC and the Corporations Act 2001.

Strong written skills are essential for drafting clear Statements of Advice. Good people skills help when working with clients, product providers and team members. A drive to keep learning helps paraplanners stay current as rules and products change.

Skills/attributes

  • Analytical thinking and financial modelling
  • Attention to detail in preparing documents
  • Written communication and report writing
  • Skill in Xplan or AdviserLogic software
  • Knowledge of super, insurance and investment products
  • Understanding of ASIC rules and the Corporations Act 2001
  • Research and data analysis
  • Client liaison and people skills
  • Time management and ability to meet deadlines
  • Compliance record keeping
  • Problem-solving under pressure
  • Ability to adapt to changing rules and products

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About the author

Laura Atkinson

Laura Atkinson

Laura Atkinson is an Account Management and SEM specialist at Course Finder Group with six years' experience in the Australian education sector. She works day to day with universities, TAFEs and independent training providers, which gives her a close view of how courses map to real career outcomes. She writes practical guidance on career pathways, choosing the right qualification and what to expect when moving into a new field.