RIA Business Development Consultant III, Investment Advisors Division (IAD) - Req. 1901495
Under general direction with a high level of autonomy, uses extensive knowledge and skills obtained through education, experience or certification to develop affiliations with advisor and/or financial planning professionals/organizations to recruit advisors and/or their practices to IAD (RIA Division). Extensive contact with internal and external stakeholders is required to establish and maintain relationships that lead to recruiting new advisors. Acts in a professional sales and marketing capacity to help meet firm goals.
Essential Duties and Responsibilities:
• Creates business development and/or acquisition strategies, generates leads, and maintains and expands referral sources.
• Sources, solicits and develops new affiliations by responding to incoming calls and inquiries, sending out materials and visiting prospects to meet specific recruiting goals.
• Establishes relationships with prospective advisors, provides consultation and education regarding platform of choice or acquisition opportunities.
• Establishes and maintains a prospect database.
• Gathers information and data on prospects to be used in the sales process and for suitability review.
• Evaluates interested prospects to determine suitability.
• Manages the creation of proformas for prospects.
• Oversees visits to home office by prospects to address issues, interests and concerns.
• Assists advisors during transition to the firm.
• May manage the process of advisor succession planning and counsel advisors on the establishment of a successful succession plan.
• May coach and mentor others.
• Performs other duties and responsibilities as assigned.
Knowledge, Skills, and Abilities:
• Advanced concepts, practices and procedures of business development in a financial services environment.
• Investment concepts, practices and procedures used in the securities industry.
• Principles of finance and securities industry operations.
• Financial markets and products.
• Financial analysis of businesses and FA practices, business valuation methods and modeling may be required.
• Securities rules and regulations in order to conduct proper due diligence analysis of independent practices may be required.
• Sourcing and developing prospects.
• Developing business development and/or practice acquisitions strategies.
• Maintaining and expanding referral sources.
• Gathering and compiling information and data.
• Initiating sales calls and responding to inquiries and turning them into sales and/or practice acquisition opportunities.
• Facilitating transition/acquisition processes.
• Establishing and maintaining databases.
• Preparing and delivering clear, effective, and professional presentations.
• Effective questioning and listening techniques.
• Operating standard office equipment and using required software application to produce correspondence, reports, electronic communication, spreadsheets, and databases.
• Participate in professional organizations and activities to expand network of business contacts.
• Maintain currency in investment advisor and/or financial planner services and products.
• Partner with other functional areas to accomplish objectives.
• Incorporate needs, wants and goals from different prospects/target audiences into marketing and sales strategies.
• Gather information, identify linkages and trends and apply findings to operations.
• Research, interpret, analyze and apply information about prospects.
• Establish and communicate clear directions and priorities.
• Organize, prioritize, manage, and track multiple detailed tasks and assignments, including those delegated, in an area with frequently changing priorities and deadlines in a fast-paced work environment.
• Use appropriate interpersonal styles and communicate effectively and professionally, both orally and in writing, with all organizational levels to accomplish objectives.
• Incite enthusiasm and influence, motivate and persuade others to meet or exceed sales objectives.
• Plan, assign, monitor, review, evaluate and lead the work of others; coach and mentor others.
• Work independently as well as collaboratively within a team environment.
Educational/Previous Experience Requirements:
• Bachelor’s Degree from four year college or university with a minimum of five (5) years experience in Business Development or Sales, with experience with recruiting financial advisors in a financial services environment.
• Masters in Business Administration may be a plus depending on assigned area.
• An equivalent combination of experience, education, and/or training approved by Human Resources.
• SIE required provided that an exemption or grandfathering cannot be applied.
• Series 7