Wealth Management Relationship Manager

POSITION SUMMARY

The overall goal is to deliver high-quality wealth management services to clients (existing relationships) and prospects (new business).  Under general direction, this individual contributor is responsible for handling daily administration of wealth management relationships in consultation with various team members. This is a more experienced position in the job family and will be responsible for more complex relationships. The relationship manager will strengthen existing relationships by providing efficient and timely client service and problem resolution.  Through ongoing servicing of the clients, this individual will generate referrals consistent with the annual incentive plan to support firm growth.  In this position, the individual will participate in new business development and coordinate the necessary services during the onboarding process.  This individual will have direct communication with the business development officer (Sales) regarding the needs of new clients, and then work closely with other departments (planning, trust, tax, and investments) to meet deliverables. With respect to both new and existing clients, the relationship manager is responsible for overall client satisfaction and should strive to continuously improve processes and increase efficiency through the use of operational platforms.  In this role, the individual will handle all aspect of financial planning, including preparation of the plan and presentation of the results to clients.  This individual should proactively develop solutions to meet the client’s wealth management objectives.  Generally maintains the account by initiating a range of account activity, monitoring account records to ensure accuracy and completeness, and responding to client inquiries.  Utilizes wealth management knowledge, experience, and bank resources to identify opportunities for relationship enhancement and to recognize problems and provide solutions.  Incumbent is expected to display professional maturity, judgment and experience.  A certain degree of creativity, diplomacy and latitude is required.

 

MAJOR JOB RESPONSIBILITIES

• Works directly with clients and responds to client requests for account information or initiates transactions requested by client.  Administers assigned accounts in accordance with bank and department policies and procedures, ensuring that fiduciary standards and practices are observed.
• Develops financial plans by collecting necessary information from client, entering information into financial planning software, and preparing analysis. Responds to planning related inquiries from clients and provides financial planning advice and guidance.
• Maintains a strong understanding of the roles of other departments – portfolio management, tax advisory, and trust administration – so collaboration can easily occur. 
• Develops direct working relationships and interacts with internal partners, clients, prospects, and external contacts (attorneys, CPAs, trustees, etc.) to ensure accounts are administered properly. 
• Attends client and internal meetings as necessary.  Collaborates with other team members to prepare meeting materials. Handles follow up action items, including recordkeeping in CRM software.
• In conjunction with operations, ensures accounts are opened or closed accurately and promptly, collects and values assets, completes documentation, initiates and coordinates all duties associated with a new or terminated accounts. 
• Coordinate services, paperwork, and other needs during onboarding process for new clients.
• Initiates proper disbursement of funds as directed.  Monitors records and daily activity to ensure they are accurate and complete.  Ensure transactions are completed with audit and compliance standards as well as timely execution.
• Responds to internal and external inquiries resolving discrepancies related to accounts.  Follows through until requests are completed and outstanding issues are addressed.
• Ongoing, proactive communication and interactions with clients and prospects via telephone, email, Zoom, or in person in order to build and enhance relationships. Records relevant details of client interactions in CRM software.
• Assists the Department Manager on special projects as required.  Serve on committees and contribute to the functioning of the department and firm overall.  Perform other duties as required by position.