Advisor Janice Swenor, a principal in Langtree Associates in Westminster, Mass., launched a side business earlier this year that sells paraplanner services to other financial planners. "I did it initially to kind of smooth out my revenue flow," Swenor says about her startup.

Swenor and a partner began their venture after she employed a paraplanner who "wasn't 100% loaded down with work." The service offers other advisors the use of a paraplanner to assist with such tasks as data entry, creating planning presentation documents and exhibits, and generating quarterly client reports.

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