A clear lack of available Paraplanners in the jobs market has emerged, a report has concluded.

Demand for Paraplanners is outstripping supply, according to the 2014-15 census on salaries and benefits in the financial services industry by recruitment firm BWD.

Salaries for Paraplanners were found to be rising – with the estimated average for 2015 being £33,945 compared with £29,904 for 2014.

Researchers also discovered an increasing trend in the emergence of freelance Paraplanners.

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The report looked at the different in gender proportions across the various jobs examined and found there was a big jump in the proportion of male Paraplanners, up from just under 32% in 2013 to 47% in 2015.

In some cases, this reflected some advisers converting to Paraplanning, the researchers said.

The BWD report stated: "The significant increase in basic salaries for Paraplanners is a clear sign that demand is not being matched by supply.

"There is a clear shortage of available Paraplanners which has led to employers stretching salary bandings and offering other financial incentives to attract them.

'It is also now common for Paraplanners to be countered-offered by their existing employer, effectively using this to price them out of the market."

Counter offers, where prospective candidates receive improved terms to stay with their current employer, reached "unprecedented levels", according to the report.

The report said that four out of five job offers commonly result in a counter offer and suggested this may account for the increase in salaries for 2015.

The report added: "We have seen more employers offer rapid career progression for administrators looking to up-skill and attain qualifications.

"We have also seen an increase in advisers wishing to step back from advice and provide technical support. A further increasing trend is the emergence of freelance Paraplanners with attractive day and/or case completion rates prove very lucrative, albeit without the perceived safety of employment.

"In the short-term we see similar problems facing the Paraplanning market for 2015 but encourage employers to be creative when considering hiring plans."