Back to search results

Wealth Management Specialist

Chicago, Illinois

Job Description:

Business Overview

Merrill Lynch Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Lynch Wealth Management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance. 

The Elite Growth Practice (EGP) Business Development Specialist role is a position on the Financial Advisor Team which operates in a capacity to further develop and service the client base.  They are responsible for implementing and executing the Elite Growth Practice Model (EGP) in their specific functional role.  Specific accountabilities for the role may vary depending on the teams practice.    Performance is measured through specific goals, metrics and behavior’s related to the execution of the EGP model.  This position is subject to SAFE Act registration requirements

The Elite Growth Practice (EGP) Business Development Specialist position may be filled at a Trainee, Specialist or Senior level depending on experience of the candidate and needs of the Financial Advisor Team.  The Trainee is a non-exempt position for a hire lacking required security licenses and/or designation.  This position allows the individual to become fully licensed and achieve the appropriate designations required for the position.  If Series 7 and 66 (or 63 & 65) licenses and approved designation are not currently held, must be obtained within a specified timeframe to be eligible for Specialist position.

The Business Development Specialist is responsible for generating new business from both new and existing clients. Builds and maintains a qualified network of prospects by consistently engaging with internal and external centers of influence and referral sources. Proactively generates leads and referrals through centers of influence, intimate events, referral alliances, targeted seminars, strategic networking, sourcing and introductions from current clients and relationships, and through use of company-approved, scrubbed lead lists. Manages client acquisition pipeline to track prospects and leads from inception to on-boarding. Drives cross line of business initiatives to maximize impact with clients and new business opportunities. Serves as an extension of the advisor team(s) for all things related to prospecting across the market to include sourcing and providing proactive leads through daily client acquisition strategies, assisting with execution of advisors business development plans, navigation and accurate communication of prospect channels, understanding of guidance on privacy policies and regulations, and having extensive knowledge of tools used to identify and validate new prospects.

Role Responsibilities

  • Identify, source, and assist in qualifying affluent prospects

  • Build and manage prospect pipeline

  • Assist in identifying and assessing potential target markets and specializations required to successfully engage identified markets

  • Create, with collaboration of all team members, team's unique value statement

  • Build and execute team's marketing and business development plan in support of growth goals established by the team

  • Establish and maintain a digital presence utilizing firm-approved platforms

  • Create marketing materials including a team pitch book by leveraging firm-approved, turn-key tools

  • Consistently meet or exceed mutually agreed upon asset & revenue growth goals/hurdles

Specific Accountabilities:

  • Develop and service client segments and the next generations and beneficiaries.
  • Develop, profile, and qualify new prospective clients through practice client acquisition strategies
  • Organize client events, referral alliances, and targeted seminars with a focus on strategic networking, sourcing and introductions
  •  Implement Goals-Based Wealth Management process utilizing current tools and technologies for clients and prospects.
  • Gather additional assets from existing client base and deepen relationships by partnering with all GWIM partners to deliver full breadth of solutions.
  • Coordinate technological support through the development of portfolio analysis, proposals and direct mail campaigns utilizing Salesforce and other tools and resources.
  • Provide technical expertise in certain product areas (e.g. Corporate 401(k), Rule 144, Insurance, Wealth Management Workstation )
  • Provide marketing and organizational support.  May support additional activities included in Good/Better/Best of OPM


  • Series 7, 63/65 or 66 or equivalent; must obtain all state registrations in support of Financial Advisor(s) and Advisor Team(s)  If Series 7, 63/65 or 66 or equivalent are not currently held, must be obtained within a specified timeframe to be eligible for Specialist position.

  • SAFE ACT Registration

  • Individuals in this role are required to maintain a Form ADV -2B, which provides clients details on individuals experience and educational background, along with other requirements governed by the U.S. Securities and Exchange Commission (“SEC”)

  • Obtain and/or maintain at least one firm approved designation

  • Possess and demonstrate strong communication skills

  • Understanding of how to deliver a strong overall client experience

  • Thorough knowledge and understanding of the suite of Wealth Management products and services

  • Ability to identify opportunities for business growth, develop strategic initiatives and drive to achieve desired results / track success

  • Strong partnership and relationship management skills with ability to analyze and prioritize leads / referrals that maximize team business development strategy

  • Ability to make sound decisions by having a deep understanding of acquisition best practices and policies/procedures

  • Ability to identify client needs and concerns, and articulate appropriate approach to align solutions to goals in a suitable and controlled way

  • Proven ability to manage risk and make sound decisions

***Please be advised that under current company policy, Merrill Lynch does not sponsor a visa petition or other work authorization, nor will the company provide relocation assistance, for this position.

***This position is posted as a more senior position but is flexible to be filled as a lower level position if the posted qualifications are met by a strong lower level applicant.


1st shift (United States of America)

Hours Per Week: 


Learn more about this role

Full time


Manages People: No

Travel: No


Talent Acquisition Contact:

Referral Bonus:

Street Address

Primary Location:
110 N Wacker Dr, IL, Chicago, 60606