IFA network Bankhall has signed a deal with Paraplanning specialists The Timebank to launch a support service to help member firms “increase their advice capacity.”

The service will provide Bankhall’s directly-authorised member firms with access to experienced Paraplanners qualified to Level 6.

Firms can take Paraplanning support via an hourly rate bespoke service, which Bankhall says effectively replicates an employed Paraplanner, or opt for a fixed price modular approach where firms choose from a menu of services depending on the individual needs of each case. 

Jon Barham, head of business development at Bankhall said: “We have seen increasing demand for Paraplanning support from advisers as they look to balance their heavy workload and business risks, with the need to consistently deliver a high standard of service to their customers.

“Utilising quality Paraplanners and working more efficiently can help busy advisers to spend more time in front of their clients and achieve their business goals.

“The Timebank has a highly qualified team and over 15 years’ experience in the Paraplanning sector. After conducting a thorough review of the market it was clear that they are the ideal partner for us to work with on this exciting new initiative.”

Damian Davies, director at The Timebank, added: “We pride ourselves on being a valued business partner to our clients and we have built a unique solution for Bankhall.

“The size of our team and high level of technical competence means that we can satisfy firms that need both short-term Paraplanning cover, as well as those who are looking for a more strategic longer-term Paraplanning relationship.”