Wealth Strategies Advisor

Bank of America; New York (NY); On-site; USD 200,000 - 225,000; Full time

Job summary

An established industry player is seeking a Wealth Planning Specialist to partner with Advisors in generating strategies for ultra-high net worth clients. This role involves developing customized planning strategies, leading client engagement processes, and expanding client relationships. The ideal candidate will possess strong technical knowledge in wealth planning and excellent communication skills to translate complex concepts to diverse audiences. Join a company that values diversity and offers flexibility, while providing opportunities for growth and a chance to make a significant impact in the financial lives of clients.

Benefits

Paid Time Off

Industry-leading Benefits

Discretionary Incentive Plan

Qualifications

• 5 years of experience in wealth planning with high net worth clients.
• Proven sales experience with ultra-high net worth clients.

Responsibilities

• Lead wealth planning engagement processes for U/HNW clients.
• Develop integrated planning strategies with clients and their advisors.

Skills

Wealth Strategy Knowledge

Estate and Gift Taxes

Financial Planning

Consultative Influence Skills

Professional Communication Skills

Education

JD

CPA

MBA

CFA

CFP

Job description

Job Description:

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!

Job Description:

Partner with Advisors or Relationship Managers in client solicitation efforts and generating wealth management strategies for our U/HNW clients and prospects. Develop recommendations and assist Advisors or Relationship Managers to implement customized planning strategies for U/HNW families. Focus may be on transfer of inter-generational wealth, estate planning, diversification of a concentrated position, philanthropy, private planning business succession, global asset allocation, risk management and retirement planning. May also author whitepapers, articles and other material on topics impacting the U/HNW client segment, or provide service to clients. Assist with the retention of U/HNW relationships.

Job Responsibilities

• Leads the wealth planning engagement process with clients from start to finish. This includes leading the new business review and onboarding process for initial and successor trustee appointments and managed agency services.

• Develops holistic, integrated planning strategies that incorporate how Bank of America can help implement those strategies in concert with the clients' advisors, where appropriate.
• Expands existing client relationships and helps Merrill advisors acquire new assets with high- or ultra-high net worth clients and prospects who are interested in wealth planning.
• Demonstrates advanced technical knowledge across a broad range of wealth planning topics such as trust and estate planning, income and wealth transfer tax planning, investments, retirement planning and cash flow modeling, sale of business entities, and philanthropic planning.
• Stays up to date with major developments in trust, estate/wealth transfer and financial planning, while following current and proposed tax legislation and understanding the impact on clients.
• Engages Merrill market leaders to drive ultra-high net worth client engagement focused on addressing the planning, personal philanthropy, and wealth transfer/tax minimization needs of these clients.

Desired Skills:

• Knowledge of multiple aspects of Wealth Strategy and implementation including: property law, estate and gift taxes, planning for incapacity, probate and estate settlement, split interest trusts and charitable giving, fiduciary duties, accounting and taxes, sophisticated retirement planning, fiduciary investing and administration.
• Ability to translate and communicate complex concepts and strategies to varied audiences (clients, advisors, attorneys, accountants, internal partners).
• Proactive and creative approach to problem solving and skill in achieving client goals while adhering to Bank policy/risk profile.
• Consultative influence skills with strong active listening and discovery abilities.
• Professional presentation, communication, and relationship management skills and ability to influence decision making
• Collaborative and able to work well in a team environment.
• Self-starter with ability to work under pressure with minimal hands-on direction.

Desired Qualifications:

• 5 years of wealth planning related work experience (wealth transfer, financial planning, trust planning and/or experience working with high net worth and ultra-high net worth clients).
• Proven track record of successful sales experience working with high net worth and ultra-high net worth clients.
• JD, CPA, MBA, CFA, CIMA, CTFA or CFP preferred.

Shift:
1st shift (United States of America)

Hours Per Week:
40

Pay Transparency details

US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - MN - Minneapolis - 80 S 8TH ST - IDS CENTER (MN1150), US - WA - Seattle - 401 Union St - Rainier Square (WA1510)

Pay and benefits information

Pay range

$200,000.00 - $225,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

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.