The demand for high-quality Statements of Advice (SOAs) and Records of Advice (ROAs) hasn’t slowed—yet margins and capacity are tight. That’s why many practices are considering contract paraplanning. Here’s what it really offers, when it’s ideal, and how to avoid common pitfalls.

What Is Contract Paraplanning?

Contract paraplanning is the engagement of an external paraplanning team on an as-needed basis, rather than employing paraplanners in-house. Work typically includes SOA preparation, ROA support, research notes, modelling and quality checks—delivered to your licensee standards and advice process.

The Business Case—Why Practices Choose It

Faster Turnaround When You Need It

Spikes in demand (busy review seasons, adviser leave, large cases) are hard to resource internally. Contract paraplanning lets you scale up quickly without permanent headcount, reducing bottlenecks and adviser admin.

Cost Control and Predictability

Instead of fixed salaries and ongoing hiring/training costs, you pay for exactly what you need. That makes cash flow more predictable and removes the risk of under-utilised headcount.

Compliance Confidence

Experienced contract paraplanners work across multiple licensees and live and breathe compliance. With a robust QA process, you get consistent documentation aligned to current regulatory expectations (see ASIC financial advice obligations for context).

Better Adviser Time

Advisers spend more time with clients and less time formatting, proofing and chasing inputs—often the silent killer of productivity.

When Contract Paraplanning Is a Great Fit

  • Your pipeline is uneven and you need flexible capacity.

  • You’re growing and want to keep overheads lean.

  • You want specialist capability (complex strategies, modelling, Centrelink, SMSF) without hiring for it.

  • You need ROA support to keep review work timely and consistent

When In-House Might Be Better

  • You have a very steady, high volume of similar advice every month.

  • You want paraplanners embedded in your office culture or sitting with advisers full time.

  • You have complex, proprietary templates that change constantly and require daily collaboration.

(Plenty of firms run a hybrid model: a lean internal team for the predictable base load, with contract paraplanning for peak periods.)

What to Look For in a Contract Paraplanning Partner

Process, Templates and QA

Ask how work is collected, tracked and reviewed. Look for clear SLAs, red-flag escalation and a second-pair-of-eyes QA step.

Licensee Alignment

Ensure templates and assumptions match your licensee’s compliance framework. Ask for live examples (de-identified).

Security and Confidentiality

Confirm data handling, storage location and confidentiality terms.

Transparent Pricing and Turnaround

You should know typical turnaround times, what’s included and how extras are priced (amendments, urgent work).

How OD Paraplanning Works with Advice Firms

We deliver scalable paraplanning services to advice firms across Australia—from single-adviser boutiques to multi-office practices. You’ll get:

  • Clear intake process and job tracking

  • Consistent QA aligned to your licensee

  • Flexible capacity for peak periods

  • Specialists for complex cases and ROA programs

  • A single point of contact you can actually reach

FAQs

Q: How quickly can jobs be turned around?
A: Standard SOAs are typically 7–10 business days, with express options available depending on complexity and current queue.

Q: Do you work within our templates and style?
A: Yes. We’ll adopt your licensee templates and formatting so every document looks like it was produced in-house.

Q: Can you help with ongoing review documents?
A: Absolutely—our ROA support programs keep reviews timely and consistent.

Bringing It Together

Contract paraplanning isn’t just a stop-gap—it’s a strategic way to improve speed, consistency and margins. If you’re exploring a flexible solution, we’d love to show you how it works.

👉 Book a quick chat and see how OD Paraplanning can support your pipeline.