Wealth Management Specialist

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.

Merrill is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

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.

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy.

Job Description:
This job is responsible for performing a variety of specialized functions across a team of Financial Advisors, such as business management, business development, wealth planning, investment management, or relationship management. Key responsibilities include providing quality client service, and operations support and executing problems where extensive analysis and evaluation is required. Job expectations include having knowledge of the Merrill Wealth Management business and supporting team members as needed. This position may be responsible for the provision of residential mortgage loans, and as such, is subject to SAFE Act registration requirements. Pursuant to the SAFE Act requirements, all employees engaged in residential mortgage loan originations must register with the federal registry system and remain in good standing. Since this position requires SAFE Act registration, employees are required to register and to submit to the required SAFE Act background check. Failure to obtain and/or maintain SAFE Act registration may result in disciplinary action up to and including termination.

This EGP Trainee is a training program to develop and prepare candidates to further develop and service the FA Teams client base. The Trainee role allows EGP Specialist to become fully license and require the appropriate designations before taking on the full EGP Specialist role. This position operates in a marketing and sales development role by implementing and executing the Elite Growth Practice. Specific accountabilities for the role may vary depending on the team’s practice. Performance is measured by the FA or FA team through specific goals, metrics, and behaviors related to the execution of the EGP model.

Core Responsibilities: Develop and service client segments and the next generation and their next generations and beneficiaries. Gather additional assets from existing client base and deepen relationships by partnering with all Merrill partners to deliver a full breadth 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. Role is designed to allow employees to study and obtain all required registrations. This role is an FA Paid Resource.

Senior Wealth Planners are focused on understanding clients’ needs and goals, proactively identifying strategic planning and investment opportunities to better meet client’s financial objectives. They work in tandem with the Financial Advisor(s) and Advisor Team(s) to craft a comprehensive financial plan geared towards driving responsible growth for existing clients. Senior Wealth Planners partner with internal line of business specialists and specialists across the Enterprise to expand wealth planning strategy opportunities and further deepen client relationships. They develop wealth transfer and estate planning strategies to meet client financial goals and enhance client relationships, expand wallet share and acquire new clients, drive (could be lead or support) planning culture within team by providing industry & firm updates to team. The successful candidate will have extensive knowledge of estate and gift taxes, philanthropy, trust structures, insurance, income tax planning, and investment management. The role requires a comprehensive understanding of the suite of solutions, platforms, and initiatives across the enterprise.
 

Role Responsibilities

• Develop a robust client discovery process and lead the discovery process

• Establish relationships with client’s trusted advisors

• Develop and review plans, with input from advisor(s) and specialists, and make initial recommendation to clients

• Lead plan presentations, offering key recommendations and what-if scenarios

• Lead agreement on key recommendations to be addressed and implemented to drive goal attainment

• Engage specialists and partners to address client needs and deliver solutions

• Leverage firm tools to perform technical analysis for estate planning, stock options, tax consequences, etc.

• Proactively review client plans to assess and ensures that client's needs have been met and the client's experience has exceeded expectations.

• Identify any new opportunities through understanding clients' life changes and consult with advisor and specialist for recommendations

• Design a scalable and action oriented planning process for the practice

• Continue to broaden planning strategy knowledge and skillset in an effort to elevate team planning strategies and firm planning resources

Role Requirements

• Either Series 7 and 66 licenses or Series 7, 63, and 65 licenses; must obtain all state registrations held by the Financial Advisor(s) and Advisor Team(s) they support

• 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”)

• CFP® or CPWA® designation preferred or 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

• Advanced knowledge and understanding of the suite of Wealth Management products and services, as well as synergies across the enterprise

• Ability to lead through collaboration and influence without direct authority to partner effectively across the Wealth Management space / enterprise

• Proven ability to build and deepen client relationships to engage in robust planning conversations

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

• Ability to identify client needs and concerns, and articulate complex investment concepts to align solutions to goals in a suitable and controlled way

• Minimum of 5 years’ experience performing specialist level responsibilities or equivalent industry experience

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

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