Private Wealth Investment and Relationship Management Analyst
: San Francisco, CA, USA
$60000 per year
Management, Analyst, investment, RelationShip, Series 7, Series 66, Series 63, Series 65
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 - 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 - Business Development (Exempt):
Identify target client segment/market niche and establish strong reputation within markets
Develop and maintain value proposition, marketing plan and branding within chosen market
Create and follow client acquisition plan, identify activities, specify and track progress towards quantifiable goals.
Proactively generate leads and referrals through centers of influence, events, referral alliances, targeted seminars strategic networking, sourcing and introductions
Manage client acquisition pipeline through utilization of a pipeline management system (Salesforce) to track prospects, leads and current clients.
Analyst - Business Management (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 - 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
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.
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
Who does this position report to?
Position will report to the Marketing Executive. Intake Call Notes: Looking for someone with actual experience working with an advisory team, and also has an analytical and relationship background. One thing the hiring team can be lenient on is the candidate coming from the investment side. Candidate will work within the private banking and investment group. MUST be able to build rapport with clients. Candidates the team have hired in the past/willing to look at: financial advisors, Sr. client associates, client relationship managers. The analyst will be a part of the FA team. This analyst will be involved in this aspect of the FA role. 7/66 is not mandatory but required to obtain within 300 days as well as CFA or CFP CRP – something that they can get quickly. Receiving either the CFA or CFP or CRP depends on when the person comes in and what that team really wants. The team will determine what is best for the candidate depending on the candidates responsibilities. Will look at CFP level 1 or level 2 candidates. Beginning or middle stages of designation. Will look at candidates up to 80K/80-95K range 6 open positions. This candidate will leverage partners, hold events, get referrals. The role will be really engaging with clients. Interview process: 1. Phone screen with TA 2. Phone screen with hiring manager 3. In person interview on site. No relocation offered, do not visa sponsor. Hours for both positions: 7:00 am-3:00 pm or 6:30. Every team is different. Parking fees in San Fran are paid out by the employee. Benefit package included: 4 weeks’ vacation 10 sick days 10 paid holidays. Tax free tuition reimbursement per year. Per job related courses.
What are the 3-4 non-negotiable requirements on this position?
Must obtain and/or maintain either Series 7 and 66 licenses or Series 7, 63, and 65 licenses as well as firm approved designation (CFP, CFA, CRPC, etc.). Merrill Lynch does not sponsor a visa petition or other work authorization, nor will the company provide relocation assistance, for this position.
What are the nice-to-have skills?
Our Private Wealth Team is looking for a Relationship Management Investment Analyst that has actual experience as an analyst for an advisory team and hands-on Relationship Management expertise. Familiarity with Merrill Lynch/Bank of America products, policies & procedures is a plus.
What is exciting about this opportunity? Please use this section to describe team and company culture.
Merrill Lynch Wealth Management is an American wealth management division under Bank of America and The Private Banking & Investment Group provides comprehensive wealth management to affluent and high-net-worth clients. PBIG standard is $10mm+. So far in 2018 we currently have $2.8Trillion in Wealth Management client balances and are the leading wealth management firm and trust company led by Merrill Lynch and US Trust. These roles offer Medical, Dental, Vision, Life Insurance, 401k, paid vacation, paid sick and 10 paid holidays. $5,250 Tax-free tuition reimbursement per year for certain job related courses, 16 weeks paid maternity, paternity and adoption leave, and much more. Our culture I would say is very strong. Being a Merrill Employee provides a Work-Life Balance, Competitive pay and benefits, job security and advancement opportunities. Employees go through extensive training and are rewarded for their hard work. Our managers really care about their employees. Benefit package included: 4 weeks’ vacation 10 sick days 10 paid holidays. Tax free tuition reimbursement per year. Per job related courses.