Private Wealth Business Manager
Job Description: Job Description
The Business Manager role is a key contributor to a Financial Advisor team in creating strategy and ensuring execution related to multiple metrics and priorities across the team's business plan and goal deliverables. Helps manage the team's business plan and practice financials. Tracks progress with quantifiable business and activity goals and ensures team daily activities aligns with practice metrics, goals and objectives. Coordinates team assignments, projects and key initiatives, and ensures execution of team's client service strategy. Requires a thorough knowledge of the Merrill Lynch Wealth Management business functional area and products. Requires a working knowledge of general bank policies, programs and procedures and financial/accounting practices. Role Responsibilities
- Create and manage team routines (e.g. regular team meetings. communications, team calendars)
- Conduct team meetings to drive business plan execution
- Establish an agreed upon team scorecard and revisit regularly to ensure accountability
- Create scale and capacity through operational efficiencies and available technology
- Coordinate and help prioritize work assignments across team to ensure completion
- Oversee execution of client service strategy and client review processes
- Track team performance against goals and prior year performance, including identifying key opportunities and success on key programs
- Establish budget and manage expenses regularly, including Business Development Account (BDA)
- Assist with the sourcing, assessing, and onboarding of new talent; and the off boarding of transitioning talent
- 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
- Strong leadership abilities, communication and delegation skills
- Understanding of how to deliver a strong overall client experience
- Thorough knowledge and understanding of the suite of Wealth Management products and services
- Proven ability to manage risk and make sound decisions by having a deep understanding of industry regulations, supervisory requirements, and policies/procedures
- Strong analytical skills with ability to identify trends, root cause and effects, and implement improved processes to increase growth and mitigate risk
- Ability to influence and demonstrate strong and effective leadership through clear communication and collaboration with other partners to make sound decisions with courage and conviction; demonstrated ability to influence to the desired outcome, without direct authority
***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. Shift:
1st shift (United States of America) Hours Per Week:
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