Private Wealth Team Director

Colonial Bancgroup   •  

Winchester, VA

Industry: Financial Services


5 - 7 years

Posted 350 days ago


Lead a team of Private Advisors (PAs) in delivery of relationship management and new business development for clients/prospects in the Private Advisors segment ($500K - $2Minvestable). Accountable for growth of production and profitability for the Division within assigned region. Accountable for personally developing and managing client relationships to meet individual production targets commensurate with small, medium or large size markets.Responsible for theFINRA compliance, supervisory and oversight of PAs.

Essential Duties and Responsibilities:
Following is a summary of the essential functions for this job.  Other duties may be performed, both major and minor, which are not mentioned below.  Specific activities may change from time to time.
1.    Lead PAs in execution of proper sales and relationship management techniques, inspect PA performance, provide appropriate feedback and support PA growth. 
2.    Provide a team of PAs hands-on support and coaching in all facets of Integrated Relationship Management (IRM). Assist the team of PAs in delivery of a broad range of BB&T financial products and services to clients and prospects within the PA segment. These services may include Retail Deposits, Wealth Credit, Mortgage Loans, Trust and Asset Management, Insurance, Investments, and Financial Planning. 
3.    Build relationships with assigned Market Presidents and local leadership teams and other lines of business to champion BB&T Wealth within the region. Lead all BB&T Wealth programs, strategies and initiatives within the local markets. 
4.    Lead and mentor all associates to pursue professional growth and development opportunities necessary to become highly skilled financial professionals. 
5.    Actively participate in community events and represent BB&T Wealth as a line of business to other professionals and Centers of Influence (COIs) in the markets covered. 
6.    Provide compliance, supervision and oversight to all FINRA licensed personnel within the market area. In the context of this role, the Private Team Director is responsible for the employment decisions and compliance coaching opportunities for these FINRA licensed individuals.
7.    Serve as the Advisor for assigned Private Advisors clients and prospects. Coordinate, deliver, and provide on-going service for financial products and services for assigned clients (e.g., Retail Deposits, Asset Management Account (AMA), Wealth Credit, Mortgage Loans, Trust and Portfolio Management, Insurance, Investments, Financial Plans, BB&T Scott & Stringfellow). 
8.    Establish and maintain an understanding of assigned clients’ financial needs through frequent interaction and continuous use of the BB&T Private Advisor Sales Process.
9.    Successfully engage clients in needs-based financial planning and Executive Services thoroughly profiling every client to identify issues and communicating the benefits of how fee-based financial planning can provide solutions to those issues. Work with the Financial Planning Group and other partners for delivery of financial planning services to the client as appropriate. 
10.    Develop organic growth through the development of external Centers of Influence referrals and business relationships that are mutually beneficial.  COIs include but are not limited to current clients, attorneys, accountants, business owners and community organizations; meet growth goals for PA clients (e.g. loans, deposits, fee-based revenue) as assigned. 
11.    Embrace the BB&T Decathlon Sales Process, which includes, but is not limited to, the delivery of the Perfect Client Experience behaviors, support of the BB&T segmentation models, full use of the automated sales process and support of referral processes and guidelines. 
12.    Establish and maintain excellent working relationships with various specialists (IRM partners) designated to support client service and client development efforts (e.g. Mortgage Origination, Investment Services, Trust and Portfolio Management Services, Insurance Services). 
13.    Stay abreast of changing economic, legal, financial planning, investment trends, and general market and business issues impacting PA clients and apply that knowledge on behalf of your clients and direct reports. 
14.    Work within existing audit, compliance and regulatory framework to ensure a high-quality, compliant book of business.

Required Skills and Competencies:
The requirements listed below are representative of the knowledge, skill and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
1.    Bachelor’s degree in Business, Accounting, Finance or Banking, or equivalent education and related experience 
2.    Seven years of progressively responsible experience in banking, investments or financial planning 
3.    Three years of experience working with affluent clients 
4.    Industry applicable licenses, including FINRA Series 24, 7, 63, 65 or 66 and life, accident and health and long term care (or obtained within 120 days of hire) 
5.    High aptitude for client relationship management and business development 
6.    Possess and demonstrate a broad, fundamental understanding of financial planning and investment concepts, and have a sound knowledge of retail bank credit and deposit products 
7.    Strong interpersonal, sales and relationship management skills 
8.    Strong written and verbal communication skills
9.    Demonstrated proficiency in basic computer applications such as Microsoft Office software products
10.    Must be SAFE Mortgage Licensing Act compliant within 30 days of employment in this role, including new or transfer of registration, and applicable NMLS acceptable background check 
11.    Ability to travel, occasionally overnight

Desired Skills: 
1.    Master’s degree in Business, Accounting, Finance or Banking
2.    Completion or enrollment in professional-level certification programs such as Registered Paraplanner, Accredited Wealth Management Advisor, Certified Financial Planner, Certified Trust and Financial Advisor, or Certified Public Accountant 
3.    Completion or enrollment in an established management or career development program such as BB&T’s Leadership Development Program or BB&T Banking School