The Analyst (Registered) is a fully paid or firm paid (exception only), salaried, exempt position on the Financial Advisor Team to further develop and service their client base. The Analyst is responsible for implementing and executing the Optimal Practice Model (OPM) in their specific functional role (i.e. Business Development, Business Management, Relationship Management or Investments). Specific accountabilities for the role may vary depending on the team’s practice. Performance is measured by the FA or FA team, along with OMT, through specific goals, metrics, and behavior related to the execution of the OPM function. The Analyst (Non Registered) is a non-exempt position for a non -licensed hire lacking a license and/or designation, until fully licensed and designation achieved. The Analyst (Registered) is a non-exempt position for licensed employees that are in progress of completing their designation in 12-months.
Analyst - Business Development (Exempt)
- Develop business plan and track progress with quantifiable business and activity goals; and align daily activities with practice metrics, goals and objectives
- Define roles and responsibilities aligned to OPM framework for each practice member
- Define and periodically review client segmentation, minimum account size, pricing, and profitability by comparing revenue and time capacity per client; adjust to ensure clients are in right channel
- Proactively generate leads through active management of the practice’s communication strategies and expenses
- Drive the overall vision for the practice through leveraging strategic partnerships and developmental opportunities
Analyst - Relationship Management (Exempt)
- Define and deliver consistent ongoing c communication and engagement plan
- Discuss fees charged and rationale regularly, and review platform and pricing on an ongoing basis
- Deepen client relationships through ongoing profiling and identification of client needs, by creating a robust electronic profile form where information is captured and proactively updated on a regular basis
- Plan and hold appreciation events and/or seminars and individual social outings to various client segments, and invite clients based on their needs/interests.
- Leverage partners/specialists to identify opportunities with existing clients reviewing client’s situation with specialists on a regular basis
- Maintain documentation of all client interactions in Salesforce, making full use of notes, assigned follow-ups, etc.
Analyst - Investments (Exempt)
- Develop and service certain or pre-identified client segments of an FA or FA Team client base (such as, related accounts and specific account segments).
- Profile, qualify, and develop prospective clients through the five Client Acquisition Strategies: Sourcing & Introductions, Intimate Events, Strategic Networking, and Referral Alliances, and Targeted Seminars.
- Support the overall Goals-Based Wealth Management process to certain client segments.
- Implement investment strategies and presentations and implement investment recommendations through presentations
- Gather additional assets from existing client base.
- Coordinate and introduce technological support to FA or FA team’s business through the development of portfolio analysis, spreadsheets, proposals, direct mail campaigns, etc.
- Provide specialized support to an FA through technical expertise in certain product areas (e.g. Corporate 401(K), Rule 144, Insurance, etc.).
- Provide marketing and organizational support to FA or FA team as needed.
Private Wealth Analyst - Business Development (Exempt)
- Create interim business plans with goals, objectives and repeatable processes that support the long-term vision of the practice, tracking progress against goals frequently
- Define roles and responsibilities and align reward and incentives with those expectations
- Understand core client groupings and corresponding profitability
- Establish a transparent pricing policy that effectively captures value delivered to clients
- Define an infrastructure that supports knowledge sharing and collaboration
- Utilize information system(s) to support documentation and preservation (e.g., SalesForce, O drive, Outlook, etc.)
Private Wealth Analyst - Relationship Management (Exempt)
- Define investment philosophy and strategy and clearly articulate an investment philosophy to include ‘investment management policy statement’ asset allocation strategies, portfolio construction, etc.
- Manage client portfolios using a fully documented investment philosophy that meets client objectives- evaluating and employing available investment selections that support client objectives and mitigate risk
- Incorporates liquidity management and cash management as part of overall investments/ wealth management plan, proactively monitoring money in motion based on client’s desire for yield, security and/or convenience
- Deliver solutions to meet clients’ specialized lending needs, including custom mortgage, specialty lending (art, yacht, aircraft, etc.) to meet their needs
- Assess portfolio performance and create customized client reports using available systems (e.g. CRC) to streamline data gathering that present financial information according to client preferences and objectives
Private Wealth Analyst - Investments (Exempt)
- Define investment philosophy and strategy (e.g., asset allocation, strategic vs. tactical, active vs. passive) and clearly articulate approach to investing that is implemented through a repeatable process
- Manage client portfolio’s using a fully documented investment philosophy leveraging Wealth Management tools and review portfolios for potential rebalancing
- Establish a clear buy/sell discipline for selecting investment products consistent with client goals and risk tolerance for initiating and selling positions
- Implement, manage and deliver via the creation of model portfolios and engage in ongoing performance analysis of various asset classes as well as client education Have deep knowledge of the various Merrill Lynch investment platforms (e.g., MLPA, UMA, PIA, MFA) as well as the available products and solutions and relevant contacts
- Conduct ongoing research on markets and investments and follow disciplined process to monitor and respond to external events
- Either Series 7 and 66 licenses or Series 7, 63, and 65 licenses
- All state licenses in support of FA or FA Team’s client base
- All product licenses in support of FA or FA Team’s client base
- Obtain and/or maintain at least one firm approved designation
- Safe Act Registered
1st shift (United States of America)
Hours Per Week:
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