Managing Partner, Wealth Advisor

UMB Bank; United States; On-site; USD 100,000 - 189,000; Full time

Benefits offered by this job

401(k) matching program

Paid time off

Health insurance

Job summary

UMB Bank is seeking a Managing Partner, Wealth Advisor to lead and grow a practice of wealth advisors. You will set priorities, manage P&L, and guide the development of business plans for client acquisition and retention.

The role requires strong leadership, advanced knowledge of wealth management, and the ability to drive cross-functional collaboration across planning, investments, and estate services. Applicants should possess Series 65 within 120 days.

Qualifications

• Bachelor’s degree in relevant field or equivalent experience.
• 7 years of applicable experience within Financial Services.
• 3+ years of leadership experience as an advisor within a wealth management institution.
• Must have, or obtain, the Series 65 within 120 days.

Responsibilities

• Lead a team of Wealth Advisors.
• Set the strategic direction and establish priorities of the local wealth advisor practice.
• Develop, manage, and execute on the business plan for the advisor practice.
• Establish KPI’s for the practice to measure and monitor success.
• Align resources in the practice with the business plan.
• Manage practice performance and mentor wealth advisors.
• Drive growth through wealth management services delivery and client engagement.

Skills

Leadership

Strategic thinking

Communication

Mentorship

Business development

Education

Bachelor's degree in relevant field

7+ years in Financial Services

Tools

Salesforce

eMoney

Microsoft Office

Job description

As the Managing Partner, Wealth Advisor, you will be responsible for managing other wealth advisors within a practice or team-based service delivery model. Performs considerable short and long-term planning, scheduling, and coordination of wealth advisor resources. Responsible for the growth and development of direct reports. Accountable for assisting with the planning and management of budget, including delivery of end results for the advisory practice.

How You Will Spend Your Time:

Role Specific Job Duties:

• Lead a team of Wealth Advisors
• Set the strategic direction and establish priorities of the local wealth advisor practice
• Develop, manage, and execute on the business plan for the advisor practice
• Establish KPI’s for the practice that will allow the team to measure and monitor success
• Align resources in the practice with the business plan
• Manage practice performance, regularly updating the associate 9-box and develop specific professional development plans for each wealth advisor
• Continuously mentor wealth advisors on team, helping them adopt industry best practices

Function Specific Job Duties:

• Responsible for managing the practice P&L
• Meet regularly with team to proactively understand trends, attrition risks, and opportunities with clients and prospects
• Execute on specific programs aimed to increase productivity of business development, client retention and engagement
• Chiefly responsible for the business development within the practice, including overseeing the overall new business pipeline in the practice
• Lead the development of centers of influence (both internal and external) as referral sources, and development of natural markets and key influencers
• Lead the wealth management services delivery to high value clients within the practice
• Coordinate the delivery of wealth, financial planning, investment, and estate planning advice for clients, leveraging dedicated financial planners, trust officers and portfolio managers within the practice
• Drive a growth oriented, entrepreneurial culture with a can-do mindset across the advisory practice
• Ensure team adoption of new platforms and technologies to drive operational efficiency and enhance the client experience
• Opportunistically assist in new advisor recruiting
• Responsible for the assimilation of new wealth advisors into the wealth practice
• Ensure all minimum standards of care are met across all client relationships
• Other duties as assigned

We Are Excited To Talk If You Have:

MINIMUM:

• Bachelor’s degree in relevant field or combination of education and experience that provides and equivalent background
• 7 years of applicable experience within Financial Services
• 3+ years of demonstrated leadership experience as an advisor within a wealth management institution
• Must have, or possess ability to obtain, the Series 65 registration within 120 days of employment

PREFERRED:

10 years of applicable experience within Financial Services

• Demonstrated experience in managing an advisory practice P&L
• Advanced degree or professional certification such as CFP or CFA

Knowledge & Skills

MINIMUM:

Job Skills:

• Systems thinking and complex problem solving
• Attention to detail, yet ability to grasp big picture
• Highly organized and can effectively multi-task
• Great communicator with strong interpersonal skills
• Exceptional written communication and presentation skills
• Strong wealth advisor sales skills with acumen to close new business
• Demonstrated ability to expand revenue, assets, and client base
• Knowledge of client service and operational best practices
• Proficiency in developing centers of influence and personal networking
• Adept at advisory business planning and execution
• Knowledge of technology can improve client experiences and front office operational processes
• Strong knowledge of investment, tax, estate planning, and transfer of wealth strategies
• Understanding of how to leverage team resources to drive client growth, retention and engagement
• Proven culture carrier and mentorship of other advisors
• High Level of Emotional Intelligence, able to read situations accurately and is empathic

Technical Skills:

• Strong proficiency of Microsoft Office Suite (Word, Excel, PowerPoint, SharePoint)
• Proficiency in Salesforce CRM software, and familiarity in other front office software used by wealth advisors
• Proficiency with eMoney client portal and financial planning software

Compensation Ranges:

US Employees in California, Washington DC, New Jersey, and New York:

$120,750 - $189,000

US Employees in Colorado, Connecticut, Delaware, Illinois, Massachusetts, Maryland, Minnesota, Pennsylvania, Rhode Island, Texas, Washington, and Wisconsin:

$110,250 - $173,030

US Employees in all other states not listed above:

$99,750 - $157,060

The posted compensation range on this listing represents UMB’s good faith and reasonable estimate based on its budget and what it expects to be the starting pay for this role, but the actual compensation may vary by geographic location, experience level, and other job-related factors. Please see the description of benefits included with this job posting for additional information.

UMB offers competitive and varied benefits to eligible associates, such as Paid Time Off; a 401(k) matching program; annual incentive pay; paid holidays; a comprehensive company sponsored benefit plan including medical, dental, vision, and other insurance coverage; health savings, flexible spending, and dependent care accounts; adoption assistance; an employee assistance program; fitness reimbursement; tuition reimbursement; an associate wellbeing program; an associate emergency fund; and various associate banking benefits. Benefit offerings and eligibility requirements vary.

Are you ready to be part of something more?

You’re more than a means to an end—a way to help us meet the bottom line. UMB isn’t comprised of workers, but of people who care about their work, one another, and their community. Expect more than the status quo. At UMB, you can expect more heart. You’ll be valued for exactly who you are and encouraged to support causes you care about. Expect more trust. We want you to do the right thing, no matter what. And, expect more opportunities. UMBers are known for having multiple careers here and having their voices heard.

UMB and its affiliates are committed to inclusion and diversity and provide employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex (including gender, pregnancy, sexual orientation, and gender identity), national origin, age, disability, military service, veteran status, genetic information, or any other status protected by applicable federal, state, or local law. If you need accommodation for any part of the employment process because of a disability, please send an e-mail to [e-mail] to let us know the nature of your request.

If you are a California resident, please visit our Privacy Notice for California Job Candidates to understand how we collect and use your personal information when you apply for employment with UMB.

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