A new outsourced Paraplanning company has launched with the aim of “making advisers’ lives easier”.

Cedar Wallis, which also offers administration services, has been set up by Chris Howe, the owner and director, in Wood Street in London. He will have about 10 staff.

Mr Howe worked previously as a personal finance manager with a large High Street bank and latterly as a Paraplanner servicing specialist advisers at a West End Financial Planning practice.

He said he saw first-hand how high quality support can enhance the client relationship and create more time in the adviser’s diary.

Mr Howe said his firm is focused on helping to develop and maintain profitability, by providing high quality support where and when required and freeing up more time for planners and advisers to advise.

The firm will provide Paraplanning, administration, data gathering, gap fill services and cashflow forecasting, among other things.

It will be charging on a case by case basis, starting with £35 for data harvest, with includes capture and input. For a £120 fee for new business, the company will write suitability reports, and undertake investment research and compliance submission.

For £250, it will carry out cashflow forecasting, data capture, cashflow analysis and a full report.

Mr Howe cited many advantages of outsourcing Paraplanning, including reduced overheads, with no holidays to pay for, no sickness, no downtime or training days.

He said advisers could accommodate the peaks and troughs throughout the year without having to hire excess staff.

They also get certainty of administration costs, allowing this to be factored into pricing accurately, ultimately helping to make firms more competitive and profitable, he said.

Mr Howe said: “Cedar Wallis has been created with the ambition of making financial advisers’ lives easier. They will have access to wide range of knowledge through our ‘Knowledge Bank’ which has years of experience within the industry. They will work closely with their own Paraplanner or administrator allowing you to develop the kind of relationship which is so important to running a successful business.”