San Diego, CA
Industry: Accounting, Finance & Insurance•
5 - 7 years
Posted 29 days ago
This is the most senior wealth advisory role in Union Bank, providing relationship management to clients in the $3MM+ market segment. Private Wealth Advisors are expected to proactively attract, deepen, and manage the most complex and sophisticated financial relationships through the use of Private Wealth Management tools and processes (e.g., Value Ladder, Life Wealth Cycle, Client Profile, and Wealth Planning). Advisors in this role need to understand the complexity of Wealth Planning, investment management, risk management, estate & business planning, banking, and loan needs of high net worth clients. They will be expected to deliver a differentiated client experience that supports Union Bank’s value proposition through a consultative, needs based approach and proactive relationship management.
Private Wealth Advisors advise and consult with clients to maximize their use of wealth planning, investment services, risk management, trust and estate services, and banking and loans. Private Wealth Advisors cultivate internal and external referral networks to source new high net worth clients. Achieve quarterly and annual performance goals through proactive growth and retention of high quality client portfolios with a focus on driving overall profitability to meet bank targets. Represent the Bank in the community by becoming active in professional and community groups.
75% ? SALES, MARKETING AND BUSINESS DEVELOPMENT (INCLUDING NEW CLIENT ACQUISITION)
Develop and execute marketing and sales strategies to attract, deepen, and retain the most sophisticated and complex $3MM+ relationships to ensure a profitable portfolio. Act as consultative and trusted advisor, anticipating needs relative to the high net worth market segment to ensure maximum profitability and cross?sell opportunities. Implement defined sales process with prospective and existing clients. Conduct discovery meetings, prepare presentations, follow up on client contacts and implement solutions through delivery of comprehensive UB products and services in alignment with client needs. Establish and maintain excellent working relationships with appropriate business partners (primarily Corporate Banking, Middle Market, Real Estate Industries, and Capital Markets) to deliver comprehensive, holistic solutions to clients. Consistently align client with appropriate channels. Monitor, maintain and update sales activity, pipeline and other pertinent information using sales management tools. Achieve quarterly and annual revenue production goals.
25% ? RELATIONSHIP MANAGEMENT
Develop and maintain client portfolios. Accountable for balanced portfolio growth, portfolio profitability and overall portfolio retention. Minimize attrition risk through proactive and disciplined call program with regularly scheduled face to face meetings. Provide advice and solutions based on sound financial principles leveraging considerable resources and expertise. Analyze and respond to the needs of the $3MM+ client, balancing risk and opportunity. Analyze client’s personal comprehensive and complex wealth management needs. Respond to problems clients may experience and ensure proper handling of service requests, balancing risk and opportunity.
Additionally, Private Wealth Advisors monitor and manage portfolios to assess and minimize risk as it relates to credit and operations. They follow up with appropriate measures adhering to the Bank’s policy and guidelines; and consult with operational resources to proactively identify and mitigate operational risk in the servicing of client portfolios.
This position may be subject to SAFE Act Registration Requirements. Pursuant to the SAFE Act requirements, all applicants for employment who will be engaged in residential loan mortgage originations (as defined by the SAFE Act) must register with the federal registry system and maintain a status in good standing under the SAFE Act requirements. If at any time the Bank determines that your position requires SAFE Act registration, you will be required to register and to submit to the required SAFE Act background check and registration process. Failure to register successfully or to maintain a status in good standing under the SAFE Act will affect your eligibility for continued employment and may result in your immediate termination.
Knowledge, Skills, Abilities:
Extensive experience in dealing with sophisticated and complex wealth issues and solutions relevant to clients in the $3MM+ market segment, including advanced knowledge of wealth planning with an emphasis on estate and tax planning principles; a deep experience and broad understanding of highly complex personal and commercial financial statements and consumer or commercial lending, inclusive of related policies and procedures; Extensive knowledge of investments, trust, and highly complex credit products. Incumbents must have exceptionally strong skills in the following areas while dealing with high net worth clients: wealth planning, investments, risk management, trust and estate services, and banking & loans.
Individual must be entrepreneurial and personally driven to succeed in their market and community; Strong sales and service orientation; Must be comfortable with and persevere in face of rejection; Understand attitudes and behaviors of high net worth people and capable of delivering service at that level; Strong interpersonal and relationship management skills with extensive aptitude for sales; Ability to prospect, anticipate needs and close sale; Communicate effectively with clients of varying levels of business and financial sophistication; Effectively assemble and lead advisory team of UB partners in addressing client needs.
Education, Licensure, Experience:
Demonstrated professional competency with 5 to 10 years of financial sales experience in the high net worth segment required; a minimum of 5 years of commercial and commercial real estate and/or consumer lending experience dealing with highly complex cases, highly preferred; Investment experience; College degree required, MBA preferred; Series 7 and either a Series 66 or Series 63 & 65 licenses are required (full licensing required within 180 days of hire); Appropriate state insurance license is required (full licensing required within 180 days of hire); CFP (Certified Financial Planner), CFA (Certified Financial Analyst), CTFA (Certified Trust and Financial Advisor), and other related professional designations are highly desired. Proficient knowledge of computer skills; Ability to assess client needs/profile proactively and effectively.