Director of Financial Planning

Duties & Responsibilities

Type of Role: Director; Functional Leadership

Area of Responsibility and Purview: Directs all financial planning and practice development activities for Private Wealth Management

Role Specific Job Duties:

• Oversee the team of financial planning professionals across the business
• Partner with Advisors, Managing Partners and practice teams on driving practice efficiencies and growth strategies
• Grow the number of planning engagements (both personal and business) in Private Wealth
• Support practice teams in the development and execution of their business plans with regards to sales goals and other KPI’s
• Integrate a planning led approach across all advisor practices
• Set the strategic direction and establish priorities for the ongoing growth of financial planning and practice development
• Manage annual budget and execution of the business transformation plan for the function
• Establish KPI’s for the function that will allow Private Wealth Management to measure and monitor success
• Align the resources in the function with the annual operating plan and drive hiring needs in partnership with human resources
• Manage team and practice performance across function, working with managers to regularly update the associate 9-box and developing specific professional development plans for each associate
• Implement and manage a learning and development program to ensure all financial planning associates and advisors adopt industry best practices

Function Specific Job Duties:

• Meet regularly with direct reports and managing partners to proactively understand trends, risks, and opportunities to deliver financial planning solutions to clients
• Meet regularly with Managing Partners and practice teams to provide practice assessments and to drive and support practice growth and efficiencies to maximize overall business health scores
• Provide ongoing support and accountability to Managing Partners in key areas of practice management including client experience, business growth and development, establishing a clear vision and strategy, and strong business and financial management
• Work with internal business partners to ensure the highest level of support and service for Advisors
• Direct and orchestrate the delivery of comprehensive analysis and advice, for both personal and business planning, to Private Wealth current and prospective clients
• Engage Managing Partners and practice teams in the adoption and integration of firm technologies and resources
• Assist in the recruiting, onboarding and assimilation of new wealth advisors
• Routinely review financial planning outputs to ensure quality of financial advice provided, client experience, maximize scale and minimize risk
• Partner with business analysis team and IT to implement technology solutions to improve client experience, quality of financial advice and drive operational scale
• Design, implement and monitor specific programs aimed to increase client retention and engagement (wallet share)
• Based on client interactions and input from team managers, proactively identity new service offerings and growth opportunities
• Ensure there is a well-defined financial planning process, including meeting preparation, meeting presentation and client follow up within each advisor practice
• Document, deliver and enforce sufficient controls to prevent financial planning errors, breaches of client confidentiality or omissions
• Other duties as assigned

Requirements

MINIMUM:

• Bachelor’s degree in relevant field or combination of education and experience that provides and equivalent background
• 10+ years of applicable experience within Financial Services
• 3+ years of demonstrated functional leadership experience within a wealth management institution
• CFP or advanced designation
• Must have, or possess ability to obtain, the Series 65 registration within 120 days of employment

PREFERRED:

• Demonstrated financial advisor or wealth management sales experience

Knowledge & Skills

MINIMUM:

Job Skills:

• Systems thinking and complex problem solving
• Attention to detail, yet ability to grasp big picture
• Highly organized and can effectively multi-task
• Great communicator with strong interpersonal skills
• Exceptional written communication and presentation skills
• Strong knowledge of investment, tax and estate planning strategies
• Knack for understanding how technology can improve client experiences and front office operational processes
• Experience in designing and managing financial planning processes
• Proven Experience in working with a