Wealth Management Specialist

Bank of America; Towson (MD); On-site; USD 82,656,000 - 128,117,000; Full time

Benefits offered by this job

Formulaic incentive eligible

Benefits eligible

Job summary

Bank of America’s Merrill Wealth Management is seeking an EGP Trainee to develop and service a growing FA team client base, with a path to full licensing and designated qualifications. This marketing and sales development role targets the Elite Growth Practice, supporting the FA team in expanding client relationships and assets.

Typical duties include client servicing, pipeline development, coordination with specialists, and monitoring service levels aligned with firm standards.

Qualifications

• Experience in account management and client service.
• Strong relationship-building and communication skills.
• Willingness to obtain licenses and comply with SAFE Act requirements.

Responsibilities

• Develop and service client segments and deepen relationships.
• Gather assets from existing client base and coordinate with Merrill partners.
• Provide marketing and organizational support.
• Track client actions and ensure client satisfaction.
• Attend client reviews and support relationship deepening conversations.
• Manage client onboarding and escalations.

Skills

Account Management

Business Acumen

Client Management

Client Solutions

Advisory Portfolio Management

Referral Identification

Referral Management

Relationship Building

Administrative Services

Client Investments Management

Customer Service Management

Process Simplification

Tools

Salesforce

Job description

Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Wealth Management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance. Merrill’s Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. We believe trust comes from transparency. Our trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America. Merrill is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Merrill, we empower you to bring your whole self to work. We value the unique perspectives in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different skills and experiences that individuals bring from all backgrounds and careers; whether gained through military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Job Description: This EGP Trainee is a training program to develop and prepare candidates to further develop and service the FA Teams client base. The Trainee role allows EGP Specialist to become fully license and require the appropriate designations before taking on the full EGP Specialist role. This position operates in a marketing and sales development role by implementing and executing the Elite Growth Practice. Specific accountabilities for the role may vary depending on the team’s practice. Performance is measured by the FA or FA team through specific goals, metrics, and behaviors related to the execution of the EGP model.

Core Responsibilities

• Develop and service client segments and the next generation and their next generations and beneficiaries.
• Gather additional assets from existing client base and deepen relationships by partnering with all Merrill partners to deliver a full breadth solutions.
• Coordinate technological support through the development of portfolio analysis, proposals and direct mail campaigns utilizing Salesforce and other tools and resources.
• Provide technical expertise in certain product areas (e.g. Corporate 401(k), Rule 144, Insurance, Wealth Management Workstation).
• Provide marketing and organizational support.
• The Elite Growth Practice (EGP) Relationship Manager position may be filled at a Trainee, Specialist or Senior level depending on experience of the candidate and needs of the Financial Advisor Team.
• The Trainee is a non-exempt position for a hire lacking required security licenses and/or designation.
• This position allows the individual to become fully licensed and achieve the appropriate designations required for the position.
• If Series 7 and 66 (or 63 & 65) licenses and approved designation are not currently held, must be obtained within a specified timeframe to be eligible for Specialist position.
• This Elite Growth Practice (EGP) ) The Relationship Manager is responsible for supporting the Financial Advisor (FA) team to further develop and enhance existing client relationships.

Key responsibilities include serving as a key point of contact for clients on any non-administrative requests/needs while supporting relationship management activities and developing, implementing, and monitoring the team's client service model.

This position may be responsible for the provision of residential mortgage loans, and as such, is subject to SAFE Act registration requirements. Pursuant to the SAFE Act requirements, all employees engaged in residential mortgage loan originations must register with the federal registry system and remain in good standing. Since this position requires SAFE Act registration, employees are required to register and to submit to the required SAFE Act background check. Failure to obtain and/or maintain SAFE Act registration may result in disciplinary action up to and including termination.

Responsibilities

• Tracks all client actions/activities to ensure the highest level of client service is provided, while presenting time sensitive updates to the team and monitoring and reporting on client satisfaction
• Attends client review meetings to assist with relationship deepening conversations
• Executes on the team service model, including engaging with specialists/partners to address client's needs
• Manages aspects of the client relationship process, including client onboarding and resolving escalations
• Assists the Financial Advisor team and/or Senior Business Managers in developing and monitoring the team's client book segmentation strategy

Skills

• Account Management
• Business Acumen
• Client Management
• Client Solutions
• Advisory Portfolio Management
• Referral Identification
• Referral Management
• Relationship Building
• Administrative Services
• Client Investments Management
• Customer Service Management
• Process Simplification

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy.

Shift: 1st shift (United States of America)

Hours Per Week: 40

Pay Transparency details US - MD - Towson - 901 DULANEY VALLEY RD (MD7901)

Pay and benefits information

Pay range $30.00 - $45.00 hourly pay, offers to be determined based on experience, education and skill set.

Formulaic incentive eligible

This role is eligible to participate in a formulaic incentive plan. Employees are eligible for incentives as detailed by the specific line of business incentive plan provisions. Formulaic plans may be comprised of monthly, quarterly and/or annual incentive opportunities. Incentives are earned based on the employee’s performance against defined metrics.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

Privacy Statement

https://careers.bankofamerica.com/en-us/privacy-notice

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us! Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates. Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success. Our Values Learn about our four values that represent what we believe. Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency