Managing Director, Wealth

About the Role

The Managing Director, Wealth will lead a team of Wealth management professionals within a specific, local market and be responsible for:

• Identifying and generating new business opportunities with both existing and prospective clients through a robust growth program.
• Ensuring client satisfaction and retention through the delivery of top-tier service and full-service wealth management solutions.
• Developing, training, and mentoring team members to promote career growth and professional development, while fostering relationship-based skills necessary to deepen and expand client relationships.

The Director will work in close partnership with Wealth Management senior leadership to support regional and company-wide growth initiatives centered on new client acquisition and maintaining existing client relationships. This role also directs associates responsible for assessing financial opportunities for private wealth management clients and involving associates in other lines of business to satisfy these opportunities.

Responsibilities

• Drive new business development efforts within a designated market and lead the local Wealth Advisory team to achieve revenue targets.
• Coordinate and deliver first-class wealth management services, including investment management, financial planning, trust administration, estate planning, and tax planning to individuals, families, and institutional clients.
• Create and implement a sustainable new business development program focused on significant, organic growth through a coordinated, team-based approach.
• Provide support and guidance to the team, including review/development of proposals and presentations for new business opportunities with prospective clients.
• Manage and oversee team delivery of wealth management services and solutions to ensure service excellence and long-term client retention.
• Motivate, develop, and coach team members to expand their technical knowledge and relationship management skills to maximize value and service delivery.
• Support career growth and professional development through training sessions and individualized career-pathing.
• Perform managerial responsibilities such as staffing, performance reviews, promotions, salary recommendations, and performance management.
• Develop and lead market-specific and company-wide business development initiatives.
• Drive and champion revenue-enhancing activities at the team level as directed by senior leadership.
• Coordinate with internal partners within Wealth Management to identify new opportunities and expand wallet share with the existing client base.
• Stimulate the development of tailored, goal-based investment programs and comprehensive financial plans for clients, partnering with in-house investment and financial planning teams.
• Collaborate with other lines of business (Commercial Lending, Retail, Mortgage, and Cash Management) to enhance existing client relationships and identify opportunities for further growth.
• Plan and implement client recognition and prospecting events at the team level.
• Participate in community activities and organizations to support local partnerships and build brand awareness.
• Comply with all Bank and Wealth Management policies, procedures, and applicable regulations.
• Serve as a coach and mentor to other Wealth Advisory Directors.
• Represent Wealth Advisory on cross-functional teams and assist with strategy development.
• Evaluate client base for proper alignment and adjust partnerships as needed.
• Conduct regular risk analysis for an assigned book of business to increase client retention and identify new opportunities.
• Manage unique needs in high-growth projected markets as determined by senior leadership.

Requirements

• Strong sales and client service skills.
• Proven sales success, including prospecting, profiling, overcoming objections, negotiation, team selling, closing sales, and asking for referrals.
• Knowledge of wealth management and planning concepts, including investments, comprehensive financial planning, retirement planning, estate planning, insurance planning, and tax planning.
• Strong relationship management and team-building skills.
• Ability to make strategic and independent decisions for the benefit of the team.
• Analytical skills to interpret business periodicals, professional journals, technical procedures, and governmental regulations.
• Problem-solving skills involving advanced technical concepts.

Qualifications

• Four-year college degree.
• 7+ years of Wealth Management / Financial Advisory experience.
• Prior team leadership experience preferred.
• Professional designations (CFP, CFA, CPA, CTFA, and/or MBA) preferred.
• Experience or demonstrated understanding of wealth management solutions, including investments, banking, trust administration, financial planning, estate planning, retirement planning, insurance, and tax planning.
• 3+ years of private wealth advisory team leadership experience.
• Demonstrated progression of an expanded client base and consistently exceeding revenue targets.

Pay

Salary offered is based on factors including job duties, required qualifications, relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance. Base pay range: $150,000 - $215,000 annually.

Benefits

• Competitive 401(k) match, profit sharing, and employee stock purchase plan.
• Paid time off, medical, dental, vision, company-paid life insurance, and long-term disability.
• Supplemental voluntary life insurance, short-term and long-term disability.
• Wellness incentives and an employee assistance program.
• Pre-tax health savings accounts and flexible spending accounts.