Wealthstream Advisors, a holistic, independent financial planning RIA in New York City is looking for a junior financial planner to join our collaborative team. Wealthstream has been named as one of the 300 Top Registered Financial Advisers by The Financial Times in 2020, 2019, 2018 and 2017. Wealthstream has also been named as one of the 2021 Best Places to Work for Financial Advisers by InvestmentNews. Our boutique firm focuses on bringing comprehensive expertise and concierge level service to our high net worth client base.
Wealthstream is looking for someone with a passion for financial planning and who has 0-3 years of experience working for an RIA. The ideal candidate has either obtained the CFP® designation already, has passed the CFP® exam, or is in the process of preparing to sit for the exam. CPA designations are also welcome. This position offers significant opportunity for career advancement. To apply, please send an email with your resume and cover letter to email@example.com.
It is our mission to deliver sound advice and execution to help clients find fulfillment, personally, professionally and financially. We are compassionate and open and will go the extra mile for our clients with a mindset to simplify the complexity that wealth brings. Our core values of Curiosity, Accountability, Continuous Learning, Integrity and Teamwork are deeply rooted in our firm culture.
More About Role
The Junior Financial Planner provides technical and analytical support for the Senior Advisors of Wealthstream Advisors. Such support includes financial planning analysis, identification of client needs/obstacles, development of recommendations, investment research / portfolio analysis, and preparation for client/prospect meetings. A Junior Financial Planner participates in client meetings with Senior Advisors and completes the follow up work from client meetings.
- Analyze client assets, income, cash needs, and goals.
- Complete cash flow projections with alternative scenarios, including insurance needs analyses.
- Identify client Financial Planning issues/deficiencies related to Retirement Planning, Estate Planning, Tax Planning, Insurance (Life, Disability and Long Term Care), etc. and provide recommendations/solutions for addressing these issues.
- Execute recommendations/solutions by managing/facilitating implementation of agreed upon action items.
- Attend client meetings. Responsible for meeting preparation, meeting participation, taking detailed notes, and working with Senior Advisor and Operations Team to follow-up on all outstanding items. Meeting preparation includes the running of performance reports using Orion and updating drafts of Estimated Net Worth in E-Money.
- Prepare/create Advanced Planning Mind Maps detailing total client picture/profile.
- Prepare periodic reports, statements and other documents as requested by Senior Advisors.
- Provide investment recommendations based on rebalancing and tax loss harvesting opportunities in client accounts. Also provide recommendations in instances of cash withdrawals/additions. All trading recommendations should take into consideration the tax implications to the client.
- Review all trades (post-trade) to ensure trade affected properly and accurately.
- Analyze prospect/client outside accounts and create second opinion analyses using Morningstar Direct and additional resources.
- Research and develop new and improved client presentation tools.
- Monitor existing client investment vehicles/portfolios.
- Participation in internal firm Estate Planning, Investment, and Financial Planning meetings/committees.
- For Investment Committee, work with team to:
- Examine new asset classes and investment vehicles to determine if appropriate for clients. Preparation of memos to the investment committee to make a portfolio recommendation.
- Review and research asset class universes’ on annual basis and/or as needed.
- Carry out Wealthstream Advisors’ investment philosophy in setting up, monitoring and maintaining client portfolios.
- Perform monthly/quarterly review of investment vehicles and provide reports to Senior Advisors.
- Research law changes and new developments in aforementioned fields and help recommend/implement new firm policies based on current environment.
- Assist in firm marketing.
- Bachelors Degree (in Finance, Financial Planning, Accounting or Economics preferred).
- 0-3 yrs. experience in Financial Planning, Tax Preparation, Asset Management, or related field.
- CFP® Designation preferred. If not already acquired, CFP® certification will be required within 1st year of joining firm. Additional certifications are encouraged.
- Skilled in Microsoft Office Suite.
- Strong analytic and communication (written and verbal) skills are a must.
- Detail oriented with ability to multi-task.
- Strong attention to details.
- Ability to meet deadlines.
- Comprehensive investment knowledge is preferred.
- Related internship preferred.
Expectations to Master Role:
- Pass CFP exam
- Strong skills in Microsoft Excel, Y Charts, Fidelity Wealthscape, TD Ameritrade Veo, Schwab Advisor, Orion, Junxure and E-Money.
- Responsible for meeting preparation, attending client meetings and taking clear notes.
- Ability to complete client cash flow projections in E-Money.
- Develop understanding of firm investment philosophy
- Ability to rebalance client portfolios in Orion.
- Ability to identify client plan deficiencies and identify solutions
- Assist Senior Advisors with data analysis and manage special projects.
- Understanding of compliance rules and regulations.