Paraplanner is an AI-driven platform that automates the creation and updating of personalized financial plans for financial advisors, delivering drafts within 24 hours. By streamlining administrative tasks like client onboarding, it allows advisors to focus on acquiring new clients while ensuring high-quality, compliant financial planning.
Funding
$175K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial advisors spend significant time on administrative tasks related to financial planning, including client onboarding, data gathering, and plan creation and updates. This reduces the time available for client acquisition and relationship management. Outsourcing financial planning can be expensive and complicated, while advisors may be hesitant to compromise on quality or deviate from their established processes.
Solution
Paraplanner offers an AI-enhanced platform that automates the creation and updating of personalized financial plans, delivering draft plans within 24 hours. The platform streamlines the financial planning process by allowing advisors to delegate plan creation through a simplified three-step process: sharing a brief, receiving a first draft, and finalizing the plan with Paraplanner's support. Paraplanner's in-house planning team uses compliant automations to accelerate plan creation while maintaining quality. Advisors can securely share client information and preferences via an encrypted connection and receive real-time support via chat or phone throughout the process.
Target Audience
The primary target audience consists of AUM and fee-only financial advisors seeking to streamline their financial planning process and free up time for client acquisition and relationship management.
Features
- AI-driven automation for creating and updating comprehensive financial plans
- 24-hour turnaround for initial plan drafts
- Secure, end-to-end encrypted channel for sharing client data and documentation
- Real-time support via integrated chat and direct phone line
- Support for creating new plans, migrating partially completed plans, and updating existing plans
- Integration with financial planning software such as RightCapital, eMoney, and MoneyGuidePro
- In-house planning team based in the United States
- SOC2 certification in progress