The Director, Private Wealth Advisory
will lead a team of Wealth management professionals within a specific, Bloomington-Normal, Illinois Market and will mainly be responsible for three key areas; (i) identify and generate new business opportunities with both existing and prospective clients through a robust growth program, (ii) ensure client satisfaction and retention through the delivery of top-tier service and full-service wealth management solutions, (iii) develop, train, and mentor team members to promote career growth and professional development, while fostering relationship-based skills necessary to deepen and expand client relationships.
The Director will work in close partnership with Wealth Management senior leadership to support regional and company-wide growth initiatives. These initiatives are centered on new client acquisition and maintaining existing client relationships. In addition, this role directs the associates responsible for assessing the financial opportunities that fit private wealth management clients and involving associates in other lines of business who can satisfy these opportunities.
Duties and Responsibilities
- Responsible for driving new business development efforts within a designated market and leading the local Wealth Advisory team to coordinate and deliver first-class wealth management services, including investment management, financial planning, trust administration, estate planning, and tax planning to individuals, families, and institutional clients.
- Create and implement a sustainable new business development program focused on significant, organic growth, through a coordinated effort and team-based approach. Provide support and guidance to the team, including review/development of proposals and presentations, for new business opportunities with prospective clients.
- Effectively manage and oversee team delivery of wealth management services and solutions (in accordance with The Busey Promise, Client Engagement Model, and Wealth Management Service Blueprint) to ensure service excellence to client relationships with the goal of long-term retention.
- Motivate, Develop, and Coach team members to expand and enhance their technical knowledge-base and relationship management skill sets in order to maximize value and service delivery to clients. Support career growth and overall professional development through training sessions and individualized career-pathing. Perform managerial responsibilities and tasks, such as staffing, performance reviews, promotions, salary recommendations, and performance management.
- Develop and lead both market-specific and company-wide business development initiatives. Drive and champion other revenue-enhancing activities at the team level as directed by senior leadership.
- Coordinate with internal partners within Wealth Management to identify new opportunities while also seeking to expand wallet share with the existing client base.
- Stimulate the development of tailored, goal-based investment programs and comprehensive financial plans for clients, including partnering with the in-house investment team and financial planning team.
- Collaborate with other lines of business across the Bank (Commercial Lending, Retail, Mortgage, and Cash Management) to enhance existing, joint client relationships, while also identifying opportunities for further growth and service expansion.
- Plan and implement client recognition and prospecting events at the team level.
- Participate in community activities and organizations to support and enhance local partnerships while building greater awareness of the Busey Wealth Management brand.
- Comply with and stay informed of all Bank and Wealth Management policies and procedures as well as applicable state and federal regulations.
• Strong sales and client service skills
• Strong oral and written communication skills
• Proven sales success including: prospecting, profiling, overcoming objections, negotiation, team selling approach, closing the sale and asking for referrals
• Wealth Management and planning concepts and subject-areas, including Investments, Comprehensive Financial Planning, Retirement Planning, Estate Planning, Insurance Planning, and Tax Planning
• Strong relationship management and team building skills
• Make strategic and independent decisions for the benefit of the team
• Analyze and interpret general business periodicals, professional journals, technical procedures, and governmental regulations
• Analyze and solve problems that frequently involve decisions based on a wide knowledge of many factors where application of advanced technical concepts is predominantly required
Education and Training
- Requires a four-year college degree
- 7+ years Wealth Management / Financial Advisory experience. Prior team leadership experience is preferred.
- Professional designations, including CFP, CFA, CPA, CTFA, and/or MBA are preferred
- Requires experience or demonstrated understanding of wealth management solutions and concepts including investments, banking, trust administration, financial planning, estate planning, retirement planning, insurance, tax and identification/implementation of additional wealth planning opportunities.
- On-going development and broadening of appropriate knowledge and skills.
EOE of Minorities/Females/Vets/Disability