Total Wealth Manager

5 - 7 years experience  • 

Salary depends on experience
Posted on 03/21/18
Toronto, ON
5 - 7 years experience
Salary depends on experience
Posted on 03/21/18

Purpose of Job:

The Total Wealth Manager works in collaboration with the Regional Director, Client Solutions to support the execution of Scotia Wealth Management’s team-based offering, with specialized support focused on high net worth clients.

The incumbent will work with relationship managers and specialists across various markets within an assigned region to help them integrate Total Wealth disciplines into their business practices and play a key role in helping them position themselves effectively in the marketplace.

The incumbent will also foster collaboration between regional specialists and relationship managers advocating for the Total Wealth approach, as well as ensure that financial planning recommendations are fully developed in an effort to maximize the likelihood of implementation. Role will require some travel, mainly within Calgary, Southern Alberta  and Saskatchewan

Key Accountabilities:

1. Facilitate ongoing regional engagement activities related to the coordinated delivery and sustainment of the Scotia Wealth Management offering by:

  • Understanding the breadth of solutions and the capabilities – both local and national – and bringing in national resources as required that relationship managers can access to support their efforts;
  • Presenting the Scotia Wealth Management value proposition and service offering to internal audiences of various sizes across the organization in order to build and maintain awareness;
  • Facilitate regular specialist meetings to discuss specific financial plans and complex client situations where attendees can provide input into the development of a more fulsome plan;
  • Following up with relationship managers regarding  financial plan action items to ensure client needs and business opportunities have been fully explored, escalating any concerns as they arise;
  • Promoting resources and various channels for fulfilling Client Solutions – digital, central, or local – to help relationship managers align each client engagement/solution appropriately and, where needed, triaging client engagements to ensure that happens;
  • Monitoring client engagements and related outcomes, ensuring that relationship managers are receiving updates related to their clients and that everyone in the region is doing their part to capture our effectiveness at delivering the total wealth offering; and
  • Identifying and highlighting best practices and success stories that can be communicated more broadly to relationship managers and specialists across the region.

2. Lead the development and execution of practice management support to relationship managers and specialists around the delivery of total wealth by:

  • Delivering training presentations to all Scotia Wealth Management staff in the region that will equip them with the knowledge required to better deliver the total wealth offering;
  • Working with individual relationship manager teams to help them effectively embed a total wealth approach into their business planning activities, client marketing processes, and end-to-end client service processes, including deep discovery and ongoing client reviews that ensure we continuously address our clients’ needs;
  • Providing insights and support related to how relationship managers can introduce specialists and their solutions to prospects and clients while clarifying roles and responsibilities;
  • Identifying gaps in team processes, particularly around the implementation of financial planning recommendations and business opportunities, and helping relationship managers fill those gaps;
  • Identifying opportunities to deepen knowledge within Client Solutions staff and coordinate the delivery of any required in-depth, technical training;
  • Working with local Advisory Managers and practice management resources to create strong alignment of messaging, integrate efforts where appropriate, and ensure delivery of a full and coordinated spectrum of practice management support to relationship manager teams; and
  • Supporting Regional Director and local Advisory Managers coaching efforts and providing reinforcement of key messages to ensure strong alignment between specialists and our financial planning process.

3. Support business development activities that pro-actively target high net worth clients by:

  • Encouraging relationship managers to onboard clients into the financial planning process and communicating with financial planning specialists around the state of their pipeline in order to manage relationship manager expectations and financial planning capacity concerns;
  • Participating in prospecting activities in order to help relationship managers articulate the total wealth offering as well as the valuable capabilities within Client Solutions;
  • Working closely with the Regional Directors to build awareness of Scotia Wealth Management capabilities and client solutions with our channel partners from across the bank in their region;
  • Participating in client and COI events and presentations to represent and articulate the Enriched Thinking brand promise; and
  • Collaborating with National Office and other key stakeholders to implement key business initiatives that will enhance the Client Solutions offering and drive increased results in the region.

4. Liaise with National Office around the needs & support required by relationship managers and specialists to effectively deliver the offering by:

  • Soliciting input from the field around what they need – tools, content, tactical support, etc. – and communicating that back to National Office;
  • Providing feedback to National Office around the potential impact of new business initiatives that are in various stages of development; and
  • Identifying opportunities to improve business processes and/or otherwise enhance the delivery of our offering.

5. Provide general support to Regional Director, Client Solutions by:

  • Troubleshooting any issues related to the coordination of local specialists and/or inconsistencies in our delivery of the offering, escalating issues as needed to Regional Director;
  • Providing leadership and reinforcement of key messages with all stakeholders;
  • Acting on behalf of the Regional Director within the assigned territory where requested; and
  • Coordinating resources required to fulfill regional objectives and accountabilities.

Functional Competencies:

  • Strong client focus and results focus are essential for this role
  • Requires strong initiative, motivation and minimal need for supervision
  • Excellent communication, interpersonal and relationship building skills are essential  
  • Ability to use influence without direct accountability and authority
  • Change leadership required to support transition of relationship manager teams and specialists to total wealth orientation and to support continual refinement of processes and best practices
  • Ability to manage multiple stakeholders at various levels is essential to this role
  • Goal oriented; ability to work independently and within a team
  • Ability to adapt quickly to changing situations and priorities; a high level of flexibility is required
  • Ability to function well within a matrix environment is essential.

Educational Requirements:

  • Minimum 5 years of Wealth Managementexperience working with relationship managers and with knowledge of wealth offering solutions
  • University degree or equivalent
  • Industry accreditation (CSC, CFP, PFP, Insurance license, other) would be an asset
  • Previous client relationship management experience
  • Previous marketing and promotion experience
  • Knowledge of the Canadian Wealth Management industry, financial instruments and markets, and current regulatory environments. 
  • Knowledge of the Canadian Wealth Management operational environments including systems and processes would be beneficial
  • Knowledge of multiple front and back office systems and processes is desirable, including fluency and familiarity with client relationship management and tracking software

Requisition ID: 23303

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