BMO Financial Group Private Wealth Analyst in Chicago, Illinois
The Private Wealth Analyst is accountable to provide business development and technical support to approximately 2 – 3 Private Wealth Advisors (PWA) in the market. This role is accountable to build the financial plan, presentations and any other support material for prospect meetings based on a preliminary understanding of the prospect’s needs. In addition, the Private Wealth Analyst is accountable to service HNW client relationships managed by the Private Wealth Advisor and ensure that the desired experience is delivered to all clients. The Private Wealth Analyst is on the career path to become a Private Wealth Advisor and will receive coaching/mentoring to develop enhanced sales skills. Clients and prospects in the high net worth (HNW) segment (i.e. individuals with $1 - 25MM in investable assets).
50%: Business Development
Support the Private Wealth Advisor in business development by: developing preliminary financial plans, prospect presentations based on an understanding of client needs; coordinating and facilitating account opening procedures in a seamless manner and to quality standards; performing all required client onboarding activities to deliver a smooth experience.
Helping facilitate and coordinate client/prospect request, problems, resolutions
Updating and maintaining client records in Salesforce
Participate in all prospect meetings to understand needs and goals, and to manage all follow up work required
Begin the development of centers of influences and other key players in the marketplace under the direction of the Private Wealth Advisor
Identify and share business development opportunities in the marketplace to help grow the overall market business
Understand and communicate emerging market trends in wealth management
30% Relationship Management
Develop advisory relationship with clients managed by the Private Wealth Advisor such that an exceptional client experience is delivered to all clients
Develop a relationship development plan for all assigned clients, under the direction of the Private Wealth Advisor, to maximize client lifetime value consistent with the BMO Private Bank value proposition
Manage ongoing requests for financial planning and integrated wealth management solutions by accessing the client's needs and engaging appropriate Financial Planners, Portfolio Managers, Trust Administrators and Private Bankers in the conversation
Demonstrate a genuine desire to help clients achieve their financial goals
Ensure quality execution of client-focused solutions
Proactively provide ideas and solutions that address client needs and goals.
20%: Risk Management
Manage all client and prospect experience according to established standards and guidelines
Complete all required account opening documentation in accordance with recognized processes.
Knowledge & Experience:
2-5 years of experience in the Financial Services industry.
Financial planning knowledge base (i.e. CFP designation or intent to pursue, with experience as a practicing financial planner a plus)
In-depth knowledge of all facets of wealth management
In-depth knowledge of Bank products, services and capabilities
- Bachelor’s degree required
In-depth interpersonal skills
In-depth diagnostic skills to translate client needs into integrated wealth management solutions
Able to anticipate client needs
Proactive in bringing advice and solutions
Comfortable exploring beyond one's area of technical expertise (i.e. Discipline)
Energized by interaction with clients
Demonstrated ability to work with clients in a consultative fashion (i.e. assess client needs and craft creative, holistic solutions).
Strong verbal and written communication skills and open communication style.
Ability to negotiate and influence
Ability to work effectively within a matrix management framework.
A willingness and aptitude to influence and recognize new business opportunities
We’re here to help
At BMO Harris Bank we have a shared purpose; we put the customer at the center of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.
As a member of the BMO Harris Bank team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://bmoharriscareers.com .
BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. BMO Harris Bank is an Equal Opportunity Employer for all, inclusive of Minorities, Women, Veterans, and Persons with Disabilities.