Wealth Planning Advisor

Application Deadline:

08/29/2024

Address:

1501 McGill College Avenue

Job Family Group:

Wealth Sales & Service

The Wealth Planning Support Team is a business unit within BMO Wealth Planning, Trust & Advisory Services, dedicated to providing advisory, planning solutions, and Subject Matter Expertise support to BMO Wealth Professionals around the wealth planning process.

The Wealth Planning Advisor (WPA)  is responsible in reviewing/assessing/delivering financial plan quality reviews, and provide feedback through coaching and supporting front line wealth professionals (P&BB, Private Wealth and internal planning partners)   Provide subject matter expertise on a broad range of planning strategies, including investment and retirement planning, transition planning, estate planning, personal taxation and insurance and wealth planning strategies for corporations.  Ensuring consistency and quality in the building of financial plans and the use of WealthPath among planning professionals in the Enterprise to ensure risk mitigation, as well as support BMO’s client experience brand. Mandate to check/promote/identify gaps and train/coach to sound fundamental financial planning practices are adhered to, in wealth plans presented to clients and identify areas for development through the quality review findings.

Wealth

Quality Review Oversight & Centralized Planning (50%)

• Responsible for review wealth plans prepared by BMO Wealth Professionals for accuracy, effectiveness, and quality in a high-volume environment for all front-line wealth professionals as well as internal experts (WPC/FPSA). Which includes:
  • Determining the clients’ objectives
  • Analyzing the client’s current situations
  • Developing appropriate advice, strategies and recommendations and providing alternative scenarios
• Provide feedback and coaching on quality reviews via standardized benchmarks but with custom comments.  Phone conversations will be required to debrief and assist with quality plans, process and coaching. 
• Identify and spot trends from quality results, report common errors and issues and advise on training areas for focused coaching and improved delivery to clients.

• Keep abreast of wealth planning developments and help increase the overall wealth planning knowledge level of Financial Planning Solutions Team. Support BMO Wealth Planning and Advisory Team’s Centralized planning platform. Prepare & create financial plans and update financial planning requests sent by frontline planners. Work with Investment Advisors to create financial plans for clients, supporting the firm’s One Client approach.
• Continually evolve wealth planning skills to include complex planning techniques, example Executive compensation, Trusts, complex corporate structures, and insurance.

Provide Subject matter expertise (40%)

• Provide Wealth Planning subject matter expertise to Wealth Professionals and enterprise initiatives.
• Provide technical support and subject matter expertise to front line planners through multiple channels: phone, email, skype for business.
• Maintain awareness of latest legislative and other financial industry changes that may affect Financial Planning
• Assist/contribute to development of tools that encourage adoption of Financial Planning
• Assist in developing support materials related to financial planning, such as reference guides, FAQ’s, Weekly Quick Tips, and other relevant documentation
• Perform quality review and audit functions – Check accuracy and quality of Financial Plans created by users to mitigate risk to the organization (in accordance to process and standards set).

Business Processes/Operational effectiveness (10%)

• Assist in the maintenance of the quality review front line handbook for errors, improvements, or additions.
• Assist in identifying business requirements for WealthPath and participate in user-acceptance testing of upgrades to WealthPath
• Identify limitations and issues with WealthPath software design based on Planning knowledge (i.e., assumptions errors or calculation errors) and communicate through formal Change Request process

Knowledge & Skills:

• At least 5-7 years of financial planning experience gained through client contact or in a technical advisory supportive role to advisors, coupled with investment industry knowledge.
• Strong understanding of advanced financial planning concepts and how to model in planning software
• Professional Planning Designation – IQPF required
• Strong Technical Knowledge of WealthPath
• Bilingualism (French/English) require