Overview:
Provides advice-based approach to financial solutions for an assigned book of business. Actively solicits new and existing investments and insurance from high net worth customer segment, primarily Retail and Business Banking. Works with Investment Advisors, Fiduciary Advisors, Community partners, Wealth/WISD and Mortgage to deliver advice-based solutions and alternative investment and insurance solutions catered to the individualized needs of each customer and with the client’s best interest in mind. Mentors less experienced Advisors.
Primary Responsibilities:
- Based on individualized needs analysis, prepare recommendations for customized financial solutions to current and potential Bank customers and their portfolios, offer an array of products best suited to meet those needs and with their best interests in mind; sell and close these independently. Profile customer and deliver recommendations to ensure these needs are met. Use sales tools and modules to conduct the analysis and offer the best advice and products and customer understanding of solutions in a moderately complex level of suitability within defined standard procedures, regulatory requirements and in support of the best interests of each customer.
- Deliver a diversified set of brokerage, investment and insurance and advice-based solutions to meet the individualized investment needs of current and potential Bank customers for the high net worth segment, utilizing experts in Financial Planning, Carriers, Wholesalers in Insurance and Managed Accounts. Utilize COIs (Centers of Influence) to offer a diversified set of solutions and full scope of investment products and services catered to the needs of the individual client to meet fiduciary standards.
- Increase assets under management by meeting with high net worth clients, offering investment and insurance solutions and leveraging partnerships in Retail, Business Banking and Wealth to increase referrals.
- Provide financial planning services by advising the customer on the advantages and disadvantages of different product decisions in alignment with their individual needs.
- Meet or exceed established goals for assigned Market through sales activities and leveraging partnerships with Retail, to a limited degree, Business Banking, Community Bank partners and Wealth, while meeting individual client needs and complying with pertinent policies and regulations.
- Maintain customer appointment activity log on a weekly basis, to substantiate advisory and referral activity; follow-up on activity levels of all products to meet or exceed expectations.
- Maintain and build referral channel and strong partnerships with Retail branch, Business Banking and Wealth partners to ensure investment needs of current and potential customers in assigned Market and/or branches are met or exceeded. May coach and mentor Retail and Business Banking staff to ensure quality referrals.
- Support partnerships/relationships with Retail and Business Banking, Community Bank and Wealth through ongoing account reviews and re-evaluation of customer needs. Deliver a high quality customer service experience during each customer interaction through a complete understanding of sales process, policies and licensing requirements to contribute to the attraction, retention and expansion of client relationships. Ensure accuracy in completing required paperwork to comply with standard procedures, regulatory requirements and firm policies.
- If assigned to Wealth office and/or Business Banking, increase assets under management and develop and grow M&T Securities’ penetration into the high net worth markets across Bank channels by meeting with high net worth clients. Based on individualized needs analysis, offer investment and insurance solutions and leverage partnerships in Retail, Business Banking, Community Bank and Wealth to increase referrals. May coach and mentor Retail and Business Banking staff to ensure quality referrals.
- If assigned to a Retail branch and/or Retail segment book of business, penetrate existing segmented book of business with a focus on existing client asset growth and maintenance based on individualized needs analysis, and on deepening client relationships and generational wealth planning.
- Serve as primary PIC (Supervisor/Person-in-Charge) to lead and manage customer relationships to bring the full spectrum of banking solutions to each client based on their individualized needs.
- Regularly review customer information to ensure compliance with BSA (Bank Secrecy Act), AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements to protect Bank interests. Address issues of non-compliance by requesting additional information from the client and updating the remediation tool in the appropriate system.
- Mentor less experienced Advisors to achieve sales goals as expected.
- Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management.
- Promote an environment that supports diversity and reflects the M&T Bank brand.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Complete other related duties as assigned.
Scope of Responsibilities:
M&T Securities is a Broker Dealer that provides investments, brokerage and insurance solutions across the Wealth continuum. This position delivers individualized needs-based investment and insurance solutions to clients, primarily in the high net worth segment of greater than $3mm in investible assets. This position spends the majority of time growing the business through proactive sales activities driven first from an individualized analysis of each customer’s needs, and then recommending the products best suited to meet those individualized needs. As such, the position must stay current on operational, product, and system changes/enhancements, as well as demonstrate good risk management decisions to assist in managing client complaints and preventable losses.
If assigned to Wealth office and/or Business Banking, the position is primarily responsible for the high net worth segment of greater than $3mm in investible assets. Primary partnerships include internal/external: Retail, Business Banking, external network, Centers of Influence and referrals from existing book of business. The position works with Investment Advisors, Financial Advisors, Community partners, Wealth/WISD and Mortgage to deliver advice-based solutions and alternative investment and insurance solutions across the Wealth continuum to provide solutions catered to the individualized needs of each customer and with the client’s best interest in mind.
If assigned solely to a Retail branch and/or Retail segment book of business, responsible to penetrate into existing segmented book of business with a focus on existing client asset growth and maintenance and on deepening client relationships and generational wealth planning.
Education and Experience Required:
Combined minimum of 8 years’ higher education and/or work experience, including a minimum of 6 years’ investment or insurance sales experience providing investment, brokerage and/or insurance solutions, including trust/fiduciary experience
FINRA Series 7, 63 and 65 or 66 licenses
Pertinent state Life/Variable Insurance (LAH) licenses
Education and Experience Preferred:
Previous trust/fiduciary product, Financial Planning, Managed Accounts or insurance experience
CFP (Certified Financial Planner), CLU (Chartered Life Underwriter) and/or ChFC (Chartered Financial Consultant) designation
Location
Los Angeles, California, United States of America