Financial Advisor

Central Investment Advisors (CIA) is responsible for providing non-deposit investment products to the holding company customer base throughout the entire company footprint.  CIA employs approximately 38 financial advisors and approximately 15 Sales Assistants throughout the program.  This group provides brokerage and advisory services to nearly 20,000 clients with assets under management totaling $4 billion.  Products and services available to clients include, but are not limited to individual stocks, ETFs, mutual funds, bonds, fixed and variable annuities, insurance and advisory accounts.  

Position Summary:

CIA Financial Advisors provide investment advice, portfolio analysis and trade execution for CIA clients.  The advisor is expected to recommend investment plans and instruments which are appropriate for the client based on each particular client’s objectives, time horizon and risk tolerances.  This may include the use of a wide variety of investment vehicles including, but not limited to individual stocks, mutual funds, bonds, advisory services, fixed and variable annuities, or combinations of all of these used in an advisory account.  Advisors may also recommend models within an advisory account with these models being managed by outside, professional money management companies.  The Financial Advisor must periodically meet with their clients to reevaluate the client’s situation and determine if any changes should be made regarding their investment portfolios. For instances of advisory accounts Financial Advisors are required to have reviews with clients no less than on an annual basis.  In addition to the sales aspects of this position, the Financial Advisor is expected to hold the best interest of the client as their number one priority.  This could include the cross-selling of bank products in lieu of a non-deposit investment product.

Financial Advisors are expected to actively participate in the company’s referral program.  Advisors are   expected to follow-up on all referrals made to them through the company’s program and to promptly qualify any referral once an appointment is held.  Referrals may come from the bank’s Retail Department or other departments within the bank.  The bank’s expectation of prompt follow-up and qualification by CIA ensures that the referring bank employee receives any referral incentives they are entitled to in a timely manner.  (Referral incentives are paid only on qualified referrals, which requires a face-to-face meeting or phone appointment). 

It is expected that the Financial Advisor will maintain relationships outside the bank through community service organizations or charities to assist in building a networking group and to assist in the gathering of assets and growing their business.  In addition to networking through organizations Financial Advisors are encouraged to develop a network with local attorneys and CPAs where these professionals may make referrals to the advisor or that the advisor may refer clients back to when one of these groups’ services are needed. 

Each Financial Advisor is expected to maintain a level of expertise in the financial markets and economic conditions through independent study and networking with fellow Central Investment Advisor Financial Advisors.   To aid the Financial Advisors in their recommendations they have at their disposal a wide variety of research tools. 

Wealth Vision, Morningstar Workstation and Client Goals – Financial Planning

Argus – Equity Research

Advisory World – Advisory portfolio proposal software

Financial Advisors are expected to follow the Central Investment Advisor Policy as well as all rules of the broker dealer as detailed in the LPL Financial Compliance Manual.  This includes the required completion of annual continuing education requirements of LPL.  These requirements include Anti-Money Laundering, Annual Compliance Questionnaire and the Annual Compliance Meeting.  The Financial Advisor is also required to complete the required Financial Industry Regulatory Authority (FINRA) Continuing Education every two years.  Failure to complete any of these within the requested timeframe can result in suspension, fines or termination. 

The Financial Advisor is responsible for the books and records of the clients they maintain relationships with and for the registered branch office in which they conduct business.  Client information is documented through the account application process when establishing the account or via updating the account information when periodic reviews are conducted with the client through the broker dealer technology platform.    The account opening, maintenance and retention is done through the broker dealer’s technology platform known as Clientworks.