Wealth Management Specialist

Bank of America; Wayzata (MN); On-site; USD 74,501,000 - 128,943,000; Full time

Job summary

Bank of America’s Merrill Wealth Management in Wayzata, MN seeks an EGP Trainee to develop and service FA Team client bases, advance toward licensing and designations, and support the Elite Growth Practice. The role blends marketing, sales development, and portfolio analysis within a regulated framework.

The trainee path includes obtaining Series 7/66 or 63/65, SAFE Act registration, and progressing to Specialist roles based on experience and needs.

Qualifications

• Currently pursuing or holding Series 7, 63/65 or 66 or equivalent and must obtain state registrations.
• SAFE Act registration required; ADV-2B required.
• Obtain and/or maintain at least one firm approved designation.
• Strong communication skills with knowledge of Wealth Management products and services.

Responsibilities

• Ensure client risk profiles and asset allocations are aligned and applied to each client.
• Deliver the full range of investment products and services to clients.
• Leverage product specialists to meet client goals and prepare performance reports.
• Supportマーket development and portfolio analysis, including compliance with SAFE Act requirements.

Skills

Causation Analysis

Financial Management

Investment Management

Trading Strategy

Trading and Investment Analysis

Portfolio Analysis

Portfolio Management

Price Verification

Trade Monitoring

Trading

Client Investments Management

Wealth Planning

Education

High School Diploma / GED / Secondary School or equivalent

Tools

Salesforce

Wealth Management Workstation

Job description

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 the 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. This position is subject to SAFE Act registration requirements. Pursuant to the SAFE Act requirements, all employees engaged in residential loan mortgage originations must register with the federal registry system and remain in good standing. Since 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 obtain and/or maintain SAFE Act registration may result in disciplinary action up to and including termination. Role is designed to allow employees to study and obtain all required registrations. The Elite Growth Practice (EGP) Private Wealth Investment Management Specialist 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. The Elite Growth Practice (EGP) Private Wealth Investment Management Specialist is responsible for defining the financial advisor / team investment philosophy. Key responsibilities include developing portfolio analysis and expertise across a wide range of investment product areas. Job expectations include ensuring client risk profiles and asset portfolios are aligned properly and partnering with internal specialists to deliver holistic investment solutions. 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

• Ensures risk profiles, goals, objectives and asset allocations are aligned and applied to each individual client
• Delivers the full range of investment products and services to clients
• Leverages financial product specialist as appropriate to meet client goals
• Prepares and presents client performance review reports

Required Qualifications

• Currently holds or is pursuing Series 7, 63/65 or 66 or equivalent; must obtain all state registrations held by the Financial Advisor(s) and Advisor Team(s) they support
• SAFE Act Registration; ADV-2B Required
• Obtain and/or maintain at least one firm approved designation
• Possess and demonstrate strong communication skills
• Thorough knowledge and understanding of the suite of Wealth Management products and services
• Strong analytical and portfolio management skills with the ability to identify trends and implement investment strategies to increase growth and mitigate risk
• Ability to make sound decisions by having a deep understanding of investment management best practices and policies/procedures
• Ability to identify client needs and concerns and articulate appropriate approach to align solutions to goals in a suitable and controlled way

Skills

• Causation Analysis
• Financial Management
• Investment Management
• Trading Strategy
• Trading and Investment Analysis
• Portfolio Analysis
• Portfolio Management
• Price Verification and Valuation
• Trade Monitoring
• Trading
• Client Investments Management
• Client Solutions Advisory
• Financial Analysis
• Financial Forecasting and Modeling
• Wealth Planning

Minimum Education Requirement

High School Diploma / GED / Secondary School or equivalent For internal employees; participation in a work from home posture does not make you ineligible to post, however, may require to meet the workplace excellence policy.

Shift: 1st shift (United States of America) Hours Per Week: 37.5 Pay Transparency details US - MN - Wayzata - 315 LAKE ST E (MN9315) Pay and benefits information Pay range $26.00 - $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.

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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