The Retail Distribution Review has increased the demand for Paraplanners and given greater significance to the profession, according to the owner of a Paraplanning firm. Alan Gow, owner of Argonaut Paraplanning, believes the regulatory changes, which came in just over a year ago, have made the role of Paraplanner more important. The head of the Reading-based Paraplanning services provider told Financial Planner the industry and regulation has changed a lot since he became a Paraplanner in 2006. He said: "Paraplanning, I think, has come into its own to a degree because of RDR. "It has changed the way advisers work, they have had to change their business models. "Consequently it has driven the demand for Paraplanners." {desktop}{/desktop}{mobile}{/mobile} He is optimistic that the rapid expansion of the profession will continue in 2014. Speaking at the Paraplanner Powwow Down South in London, which he co-organised, he said he had seen "teething troubles with RDR" and suggested some advisers may need to change further to adapt. He also believes there has been confusion over the definition of independence. Mr Gow, who has worked in financial services since the late 1990s, said: "I think it's going to take a couple more years for things to really settle down." Meanwhile, Mr Gow said he and fellow organiser John Redmond might set up further London Powwows after the success of last week's event.
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