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Private Wealth Market Client Relationship Manager

Boston, Massachusetts

Job Description:

Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill 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. 

Merrill’s Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. We believe trust comes from transparency. Our trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America.

At Merrill, we empower you to bring your whole self to work. We value diversity in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different backgrounds and bring their unique perspectives, ideas and experiences, helping to create a work community that is culture driven, resilient, results focused and effective

Position Overview:


There is an immediate opening for a Merrill Private Wealth Client Relationship Manager. The ideal candidate is a team player and should possess strong coaching, relationship building, problem resolution and interpersonal skills. The position requires a high focus on supervisory and regulatory requirements, business management and retention. Candidates should have excellent leadership, process and organizational skills delivered with a highly effective interpersonal style. Strength and commitment around the Optimal Practice Model and the Client Experience Standard are critical. The candidate would be actively engaged in working with PWAs, Analysts, and CAs to deliver service models beyond expectations, display strong operational knowledge and be highly motivated to drive firm-wide initiatives such as Client Support Enhancer, SQA+, Client Retention/Acquisition.

The Private Wealth Market Client Relationship Manager (PWCRM) is a direct report to the Private Wealth Division Client Relationship Executive (DCRE) with dual reporting to the Merrill Private Wealth Management Regional Managing Director (RMD).  The PWCRM functions as a member of the market leadership team. The PWCRM manages the Wealth Management Client Associates, Operations support staff, and the branch's Operations Department. The PWCRM is responsible for delivering firm strategy through the execution of the Market Strategy Plans.  The PWCRM partners closely with advisor teams to deliver a branded client service model focusing on digital solutions and enterprise capabilities.  Additionally, the MPWCRM serves as the Lead and Referral Coordinator for the market and manages the market expenses.  The MPWCRM partners closely with the Senior Private Wealth Client Relationship Manager (SPWCRM) to support the ongoing development of the Elite Growth Practice roles, Private Wealth Management Client Associates, and the Operations staff.

Specific responsibilities include, but are not limited to:

  • Ensuring client service expectations are met and exceeded while balancing the risk and exposure for Merrill
  • Managing the branch's Private Wealth Management Client Associates and Service Support Staff
  • Representing the office and Merrill with clients, prospects, Financial Advisor recruits, vendors, regulators and outside legal counsel
  • Requires diversification and experience with Bank of America and Merrill Products & Services, Trend Analysis, Risk Assessment, Human Resources, and broad Industry Knowledge
  • Coaching teams to deliver a modern, digital first service model focusing on client satisfaction
  • Proactively identifying opportunities to connect Financial Advisors and clients to the broader enterprise
  • Managing the daily operations ensuring compliance to industry regulations, and policies and procedures

Key Qualifications for the role:

  • Candidates are required to currently hold Series 7 AND Series 66 (or Series 63 AND Series 65), Series 9 AND Series 10 (or Series 8) equivalent licenses
  • Series 3, 31 licenses, if warranted
  • Minimum 5+ years professional experience required
  • Current or previous Merrill Wealth Management experience strongly preferred
  • Self-motivated and client centric
  • Expert knowledge of regulatory and supervisory requirements and corporate policies and procedures
  • Investment product knowledge (i.e., 401K, Options, Annuities, Tax, Retirement Plans, Money Funds, Mutual Funds, Liabilities, Margin, Trust Operations, etc.)
  • Prior trend analysis experience
  • Strong customer service and communication skills
  • Strong management skills, including the ability to effectively plan, monitor, influence, negotiate, supervise and delegate

Desired Skills:

  • Bachelor’s degree or equivalent work experience

Additional Details:

Responsible for overall delivery and management of the client service experience for Merrill Private Wealth Management. Accountable for proactive client service, client advocacy, transition management, and problem resolution to improve the client experience. Responsible for client contact management, direct client contact and the management of service delivery from the branch office, working closely with home office service organizations to ensure superior service to all Merrill Private Wealth Management clients. Responsible for transition and coordination of clients to Merrill Private Wealth Management, including review supervision and approval of new accounts. Responsible for the coordination of recruits transitioning from the competition. Responds to and resolves complaints, working with Litigation or Compliance personnel, regarding operations/services received from clients or regulators. Responsible for utilizing PMAC to support the transition of FA accounts as well as opportunities to increase client assets. Responsible for the management and development of the branch office support staff including operations employees and the Client Associates, this includes but is not limited to conducting performance reviews with support staff and being responsible for resource allocation for the Market, managing head count report, etc. Serve as point of contact for implementation of the WMW in the Market, serve as the ongoing WMW conduit for all enhancements including communications and training. Responsible for knowledge and experience associated with Operations management expanding the ability to manage the daily processes of an organization, creating operating efficiencies, understanding/designing workflows, while simultaneously focusing on future initiative and their impact to both the unit and the Firm as a whole. Responds to and resolves operations and services complaints, working with Litigation or Compliance personnel, received from clients or regulators. Responsible for identification, follow up, escalation and reconciliation of compliance and other risk matters, and partnering with CBRU and Legal when appropriate. Responsible for facilitating the supplemental compensation contract process between the Financial Advisors and Client Associate on an on-going basis. In partnership with OMT, responsible for reassigning accounts. Ability to monitor, assess, execute, and address client needs to ensure overall service satisfaction, retention, and acquisition. Liaison to various service and operational partners to drive client satisfaction opportunities.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-23022468

Manages People: Yes

Travel: Yes, 10% of the time

Street Address

Primary Location:
100 Federal St, MA, Boston, 02110