Wealth Management Specialist

About the role

This EGP Trainee position is a training program designed to develop and prepare candidates to service Financial Advisor (FA) Teams' client base. The role operates in a marketing and sales development capacity by implementing and executing the Elite Growth Practice (EGP). Trainees will become fully licensed and obtain required designations before advancing to the full EGP Specialist role. Performance is measured by specific goals, metrics, and behaviors related to the execution of the EGP model.

The Elite Growth Practice (EGP) Senior Business Manager role may be filled at a Trainee, Specialist, or Senior level, depending on the candidate's experience and the needs of the Financial Advisor Team. The Trainee is a non-exempt position for hires lacking required security licenses and/or designations, allowing them to become fully licensed and achieve the necessary credentials for advancement.

Responsibilities

• Develop and service client segments, including next generations and beneficiaries, while gathering additional assets from the existing client base.
• Deepen client relationships by partnering with Merrill partners to deliver comprehensive solutions.
• Coordinate technological support, including portfolio analysis, proposals, and direct mail campaigns using Salesforce and other tools.
• Provide technical expertise in product areas such as Corporate 401(k), Rule 144, Insurance, and Wealth Management Workstation.
• Deliver marketing and organizational support to FA Teams.
• Create and manage a business plan that translates practice vision into measurable goals, and regularly monitor progress.
• Provide leadership around team structure to align with the team’s vision, goals, and business plan.
• Establish and align practice operations with the strategic vision, and conduct team meetings to drive execution.
• Develop a pricing strategy aligned with the team’s vision to ensure profitability.
• Define and communicate clear team roles and responsibilities.
• Serve as the main point of contact for HR, compensation, operations, and compliance-related issues.
• Coordinate work assignments across the team, monitor quality, and manage junior team members as needed.
• Oversee client service strategy and review processes, and serve as the decision-maker in the absence of senior advisors.
• Identify opportunities to leverage specialists to enhance client experience.
• Manage the team’s budget, expenses, and Business Development Account (BDA).
• Oversee team compensation, incentives, and FA pools/splits.
• Lead talent sourcing, hiring, onboarding, and offboarding processes.
• Regularly evaluate the financial health of the practice and collaborate with equity partners on adjustments.

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 required; must maintain Form ADV-2B as governed by the SEC.
• MBA preferred or obtain and/or maintain at least one firm-approved designation.
• Strong leadership, communication, and delegation skills.
• Understanding of how to deliver a strong overall client experience.
• Thorough knowledge of Wealth Management products and services.
• Proven ability to manage risk and make sound decisions based on industry regulations and supervisory requirements.
• Ability to identify client needs and align solutions with goals in a compliant manner.
• Strong analytical skills to identify trends, root causes, and process improvements.
• Ability to influence and collaborate effectively with partners to drive decisions.
• Minimum of 5 years’ experience in specialist/analyst-level roles or equivalent industry experience.

Qualifications

• High School Diploma, GED, or equivalent (minimum education requirement).

Schedule

1st shift (United States of America), 37.5 hours per week.