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Principal, Wealth Manager

BNY Mellon
Philadelphia, Pennsylvania
Base salary + incentive and benefits
Closing date
Feb 6, 2022

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Job Role
Wealth Management
Employment Type
Full Time
Experience Level
10 or more years
CFP® Certification
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The Principal (Senior Wealth Manager) provides comprehensive wealth management advice leveraging BNYM’s Active Wealth framework. PWM's are responsible for managing, retaining and growing existing client relationships, and for self-sourcing new client relationships. PWM's will also collaborate with and closes business sourced by Client Strategists. The PWM independently manages a portfolio of medium to large size client relationships and serves in a consultative role to the client, advising as to the best way to achieve short- and long- term wealth management goals. Responsibilities include: Articulation of BNYM’s Active Wealth framework and best investment thinking; clearly understanding and defining client goals and risk tolerance; modelling and forecasting investment proposals, including recommending optimal asset allocations; analyzing balance sheets for unrealized opportunities; aligning assets and liabilities to maximize tax efficiency; executing and proactively managing on an on-going basis. The PWM will also collaborate and leverage other functional team members and investment professionals to ensure that all of BNY Mellon's wealth management capabilities are provided to our clients. The PWM will have self-sourced IM and PB assets goals. May work with less senior Wealth Managers on large, complex relationships. The Principal independently evaluates and pursues new business opportunities and client prospects, focusing on responsible business growth that is compliant, of acceptable risk and profitable. Serves in a consultative role to prospects, advising UHNW and HNW parties on the best way to achieve their short- and long- term strategic objectives through the firm's solutions. Pursues clients and centers of influence with complex strategic needs and responsible for generating new revenue by way of increased flows and future fees. Client service (15%): Frequent and regular/scheduled interaction with clients, including in-person client meetings. Serve as clients’ primary point of contact and are responsible for ensuring that all of WM’s resources are provided to clients in the Active Wealth framework. Investment/portfolio management (30%): Subject matter expert on all investment and portfolio topics which impacts clients. Able to articulate WM’s economic and market outlook at a high/macro level, and are also able to articulate WM’s best investment thinking. In-depth knowledge of WM’s investment policy, investment architecture, investment strategy, investment solutions and policy portfolios. Primary responsibility for managing client portfolios in accordance with WM’s best thinking. Business development (25%): Demonstrate a business-development orientation and mindset. Annual self-sourced asset goals and are expected to leverage existing client and COI relationships by consistently and systematically asking for referrals from clients and COIs, in order to generate self-sourced asset inflows, both IM and banking, and future fee appointments. Works with teams on opportunities sourced by other functional team members. Risk Management (20%) - Ensure all policies, procedures, and regulations are properly followed and executed. Adherence to risk policies and absence of risk events are tied to client and/or sales activities. Training, development, and mentoring (10%): Continuous learning is expected. Serves as a role-model, and mentor, and trains less-experienced team members. No direct reports; provides guidance to less experienced Wealth Managers as needed. Responsible for achievement of organic, incremental growth (revenue, asset) goals within assigned client portfolio (medium to large size relationships). Manages overall relationship profitability of key clients with complex needs.

Bachelor’s degree or the equivalent combination of education and experience is required. Advanced/graduate degree preferred. 10+ years of total work experience preferred. Financial Services experience with a particular client type or product (Hedge, Pension, etc.) preferred as is prior experience in Relationship Management, Client Services or Account Management. Strong analytical and problem solving skills, experience working in a highly detail oriented environment, strong proficiency with Microsoft Office, proven verbal and written communication skills are also preferred.


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