Dylan Ellis joined the St. James’s Place Financial Adviser Academy in 2022, after an established career as a paraplanner. Paraplanning is a respected profession in its own right. However, many paraplanners, due to their close role proximity to advisers, often want to become a financial adviser. 

Dylan trained as a paraplanner in 2017, where he gained a broad range of experience and transferrable skills. In the final year of his previous role, he worked for financial adviser Christopher Winnett, who later joined St. James's Place. Dylan followed suit and joined the SJP Academy to pursue a career as a Financial Adviser. Now, he works alongside Christopher at Compass Financial Solutions. We caught up with Dylan to hear about his career journey.

What did you enjoy about Paraplanning?

"Being a Paraplanner meant every day presented a new challenge, as each case was different – I enjoyed getting my teeth stuck into various cases and the nuances that came with them. Sitting down with a financial adviser and learning about how they supported their clients to achieve their future goals was always eye-opening, and it taught me more about the role of an adviser. Alongside this, I was lucky that my paraplanning role allowed me on occasions to attend client meetings; other times, I'd write reports or assess fund performance. The variety of my days was something I really enjoyed and was keen to take into my future career.”

How did Paraplanning help you to become a financial adviser?

"My experience as a Paraplanner has undoubtedly helped me . Not only did I build my technical knowledge, which was important because advisers often relied on me, but I also knew all about the advice process before becoming an adviser. For example, how to submit a case to compliance, what they look for and what's needed to approve a case. This meant I could look at cases from all angles and know how to consider every possible outcome. 
Another positive was that because I was used to analysing client information, I could often give answers right away in meetings instead of having to check later. So, when I became an adviser, I could make the most of my previous knowledge and apply this to my new role.”

What are the benefits of being a financial adviser?

"My work-life balance significantly improved, a crucial aspect for me with a young family. I now have control over when and where I work. 
I now meet clients I used to write about, building genuine connections and relationships with them. Rather than helping in the background, I now form those relationships face-to-face. Of course, the financial aspect is also a noteworthy perk. Rather than getting paid a salary, there's now an element of meritocracy in my role that I didn't have before.”

What’s your favourite part of the role?

I genuinely enjoy the people I meet, and helping clients reach their objectives. It's humbling when a client calls me asking for advice or 'What would you do?' It's clear they see me as trustworthy -  trusting me with their money is a privilege!”

What was your Academy journey like?

As I was already qualified, I joined the Academy in Term 2. This meant I was advising clients within 3 months of joining.  Despite already having the qualifications to advise, the Academy gave me invaluable structure and tools to advise clients. For example, despite attending client meetings as a paraplanner, I'd never actually run one. The Academy taught me how to do this, uncovering the clients' objectives and why and what they're trying to achieve. This deepened my understanding of the advice process, ensuring I maximise every client interaction.  It also sheds light on the extensive support network SJP offers its advisers. The Academy does throw you in the deep end early on with role-plays with your peers, but it's essential to do this and that you embrace this it to build your skills outside the classroom. I loved that all the trainers genuinely have an interest in developing you. They will give you as much extra time as you need and tailor their support to the individual. This went such a long way for me.”

What advice would you give to aspiring Advisers Currently Paraplanning?

My advice is to immerse yourself in learning and mastering your craft. The technical expertise and process knowledge gained will be a solid foundation for your future role. Stay open-minded, optimistic and embrace the learning journey. The worst-case scenario is often far less daunting than it seems, and with your previous experience, you're in a fantastic position to embark on a career as an adviser.