The Wealth Advisor is the principal contact with the client. This individual will have a broad and deep understanding of sophisticated wealth management practices and investment strategies. The ideal candidate will have extensive impact/mission related investing expertise. The Wealth Advisor is responsible for maintaining the ongoing relationships and leading in the development of new client relationships. Duties include managing the delivery of the wealth management services to the client. This will involve maintaining regular communication with the client, and working in consultation with the client’s other advisors. In addition, this position will oversee a group of client support personnel, including analysts and administrators in delivering investment management, tax, financial planning, and other pertinent financial services.
Essential Functions Client Service
- Extensive communication with clients and their advisors
- Ability to discuss investment performance, economic and market trends
- Presentations to clients on financial and tax planning options and opportunities
- Direct consultation with attorneys, accountants and other advisors on financial, tax and estate planning Client meeting planning, facilitation and presentation.
- Develop and/or deliver private wealth education sessions to clients and staff. Financial Planning
- Develop a knowledge of the client’s entire financial and family situation and be able to structure a goals based investment and financial plan.
- Ability to discuss estate planning and work with internal and external resources to meet estate planning goals of the client.Understand and coordinate income tax planning and work closely with client tax advisors.
- Evaluate and discuss options to meet client philanthropic goals.
- Seek to establish a level of trust and confidence with the client so that any financial issue can be addressed and solutions offered. Investment Management
- Ability to establish client investment objectives including risk tolerance, asset allocation, and cash requirements
- Develops an investment policy statement (IPS) with each client based on their goals, objectives and risk tolerance. Annually reviews IPS with client.
- Implementation of investment plans
- Translate investment policy to individual investment objectives
- Monitor manager performance versus benchmarks and develops insights for clients regarding key contributors and detractors
- Monitor asset allocation on a quarterly basis relative to policy and goals; evaluates need to rebalance
- Reviews portfolio issues (i.e., taxes, liquidity events, capital calls, etc.) quarterly Present alternative investment ideas to clients
- Manage investment transition for new clients
- Collaborates with and is accountable to the Investment Management & Research Team regarding investment strategy and client portfolio structure including, but not limited to, bringing impact/mission related investing ideas to the Manager Research team and helping to engage in due diligence on those ideas.
- Provide recommendations to individuals and family foundations enabling them to fulfill their goals related to mission/impact investing
- Evaluate large holdings for performance relative to the overall portfolio and plan strategies for diversification New Business Development and Marketing
- Develops leads and referrals from current clients and outside contacts
- Seek to increase current accounts through additions to AUM
- Offer value-added fee-based services
- Participate in sales meetings with prospective clients