We are looking for a Private Wealth Associate to work in a client-facing role with a team of Financial Advisors.
The Private Wealth Associate (PWA) primary responsibility is to serve as a personal relationship manager to Wealth Planning Network (WPN) clients. The Associate will engage in proactive and ongoing communication with clients to build and maintain relationships and to develop a deep understanding of clients’ unique goals and objectives. This is an exciting and challenging opportunity to partner with Financial Advisors for the 6-12 months to learn their thought process & provide input on all aspects of client servicing & strategy including asset allocation advice, portfolio analytics, Trust & Estate planning, retirement planning, and Insurance & Annuity strategies for high-net-worth clients. The PWA is expected to manage & provide high-level service to existing clients in sole capacity in 6-12 months from the hire date. Low-level servicing is the responsibility of our administrative staff. Compensation will be salary plus bonus based on asset retention & new assets from an existing book of business that could easily exceed $125k. The primary function is to service existing clients so other advisors can meet with prospective clients. The ability to advance into an Advisor role is determined by the Associate. A high level of knowledge related to investment management & complex financial planning is necessary. The ideal candidate is a CFP who does not like the sales pressure of being an advisor and has experience working in an operations and client-facing position within a RIA firm.
- Frequently meet with clients; formulate the appropriate actions necessary to help the client and enhance their relationship with WPN.
- Identify and drive new sales opportunities from existing clients.
- Serve as a resource for the team, Subject Matter Expert, and act as a project leader.
- Administer accounts in a manner that ensures smooth operational compliance & a high level of client service.
- Complete account reviews for the assigned accounts with the ability to review our most complex clients by fully understanding our most advanced strategies.
- Meet and communicate with clients, including a review of the client’s investment strategy and financial plan, regularly.
- Actively make client recommendations consistent with the client’s financial plan.
- Provide high-level service to clients, beneficiaries, advisors, and other related parties to assigned accounts.
- Host join meetings & build relationships with 3rd parties such as CPAs, Attorney, Bankers
- Escalate issues to the appropriate parties.
- Be a resource to other associates.
- Contribute to Investment Portfolio construction & administration
WHAT YOU’LL BRING
The Private Wealth Advisor will manage a book of Wealth Management Clients, ranging from high-net-worth individuals and families to institutional clients such as foundations and endowments.
The Private Wealth Advisor will create comprehensive financial strategies and solutions to help clients achieve their desired objectives over their lifetime. The Advisor will actively pursue opportunities to acquire new business - both in securing additional assets from existing clients as well as seeking new high-net-worth client opportunities. Client accounts will be monitored and serviced daily to ensure smooth operations and adherence to firm policies and procedures.
- Strong oral and written communication skills
- Strong sales and client service skills
- Wealth Management Services including Investments, financial planning, banking, and trust concepts including asset allocation, and basic trust and estate procedures
- A fiduciary approach to managing client relationships
- Develop and manage client relationships at an advanced level
- Make independent decisions
- Respond timely to client needs and requests
- Partner with other associates on the team in a collaborative and client-focused manner
- Understand and think strategically about each client’s financial planning
- Analyze and interpret numerical data
- Analyze and solve problems that frequently involve decisions based on a wide knowledge of many factors where the application of advanced technical concepts is predominantly required
- Analyze and interpret general business periodicals, professional journals, technical procedures, and governmental regulations
- Perform duties under frequent time pressures
WHY IT MATTERS
The Wealth Management team exhibits a foundation of knowledge and resources to serve the unique financial needs of our customers, whatever they might be. The members of this team are critical thinkers that value the relationship WPN holds providing them with trusted advice and tailored solutions.
EDUCATION & TRAINING
- Requires Bachelor’s degree in Business or Finance or commensurate wealth management or financial services experience with high-net-worth clients
- Certified Financial Planner designation is preferred
- On-going development and broadening of appropriate knowledge and skills
- Requires knowledge of standard business systems, including but not limited to, CRM systems, Microsoft Office Suite, Trading platform,