Senior Wealth Director
The position of Senior Wealth Director for our client's Private Wealth division will be responsible for developing new business opportunities with high net worth individuals and families of +$5M of investable assets. This individual will need to cultivate and maintain relationships with various centers of influence (i.e. accountants, attorneys), and participate in community activities to enhance the position of the Firm, increase visibility and develop new referral sources. Successful candidates will be able to manage and grow a highly effective referral system and initiate contacts for developing and closing new business. The Senior Wealth Director researches prospects financial picture to develop an informed perspective and strategic closing plan on an individual / family prospect. This individual will meet with prospects and explain the Firm’s wealth management and family office service capabilities, and other business segments of the Firm if applicable. When meeting with prospects, the Senior Wealth Director will conduct a consultative analysis and obtain background information on the prospect to determine the appropriate services. After the prospect is closed, the Senior Wealth Director will be responsible for the transition of day-to-day management of the client to the designated Wealth Advisor/Strategist. The Senior Wealth Director maintains periodic contact with existing clients and acts as a liaison between the client and the rest of the Firm for various cross sell activities (e.g. business advisory, wellness and risk management, 401Ks and qualified plans, alternative investments). Moreover, this individual will cross-sell relationship improvement opportunities to existing clients by providing pertinent client update information to team members within appropriate areas of the Firm. This position will work collaboratively with a group of Private Wealth client support personnel, including but not limited to Wealth Advisors, Wealth Planners, Wealth Strategists, Wealth Servicing Specialists, Director of Investment Operations, and Director of Market Research & Portfolio Strategy with assisting in the delivery of investment management, tax planning, comprehensive financial planning, risk management solutions, estate and succession planning, and other pertinent financial services. Please note, that the Firm or its affiliates do not provide tax or legal advice, therefore, the Senior Wealth Director will be responsible to manage and collaborate with the clients outside advisors to assist in delivering a comprehensive holistic wealth plan for the client.
KEY RESPONSIBILITIES & DESCRIPTION OF DUTIES:
The key responsibilities and description of duties described below for a Senior Wealth Director of Private Wealth are not intended to be all inclusive.
- Cultivate and maintain effective business relationships with decision makers
- Pursue prospects from all mediums
- Get commitments from prospective clients to take an Intro meeting
- Participate in the planning and sales process for new opportunities
- Manage and facilitate the prospective client-meeting process including coordinating agenda items and presentation materials, in conjunction with the Firm’s Private Wealth team.
- Consistently deliver and present the Firm’s Value Proposition to potential clients
- Position and differentiate the Firm by educating centers of influence on our vision and services
- Create marketing strategies for prospects, referrals and existing relationships
- Provide reporting on a recurring basis (such as weekly or monthly) to the President of Private Wealth regarding pipeline, pipeline adjustments, current leads, and new business expectations.
- Identify large opportunities in the ultra-high net worth market
- Assist with evaluating and managing the profitability / service requirements of newly on-boarded and/or prospective clients for the Private Wealth division.
- Build relationships with the staff (i.e. Wealth Advisors, Wealth Strategist, Operations, Compliance, etc.)
- Present at seminars and training sessions
- Cultivate strong relationships with centers of influence including estate planning attorneys, M&A attorneys, CPA's, etc.
- Attend conferences and networking events
- Follow up on leads generated
- Champion community involvement through charitable involvement
- Responsible for developing and executing a cross channel strategy by enhancing client experience with distribution of wealth products and services throughout the Firm's footprint
PROFESSIONAL QUALITIES & FOUNDING PRINCIPLES:
The Senior Wealth Director of the Firm must possess the following characteristics and principles:
- Leadership: The ability to direct and contribute to initiatives and processes within the organization.
- Ethical Practice: The ability to integrate core values, integrity, trustworthiness, and accountability throughout all organizational and business practices.
- Effective Communication: The ability to effectively cooperate and exchange information with stakeholders, staff, and clients.
- Critical Evaluation: The ability to interpret information to make business decisions and recommendations.
- Global & Cultural Sensitivity and Effectiveness: The ability to value and consider the backgrounds and perspectives of all parties.
- Relationship Management: The ability to manage interactions to provide service and to support the organization and its clients.
- Business Acumen: The ability to understand and apply information that can contribute to the organization's strategic plan.
Our client has achieved success by adhering to the following Founding Principles (as listed below), which are instilled in their team members every day. It is expected that the Senior Wealth Advisor and all Firm employees consistently and continually adhere to these principles:
- Unwavering Integrity: Be ethical and trustworthy in everything you do.
- Tenacious Work Ethic: Always be prepared and at least one step ahead.
- Selfless Service: Act with selflessness, caring, humility and passion.
- Strong Leadership: Do what’s right, and not just what’s easy.
- Devotion to Education: Be committed to personal and client continued education.