The Wealth Management Specialist is responsible for evaluating clients' financial situations, crafting customized investment plans, and offering ongoing advice to enhance their wealth. The role involves regular portfolio reviews and strategy adjustments to meet clients' evolving needs.
Key Responsibilities:
Strategic Wealth Management:
Conduct comprehensive assessments of clients' financial status, including assets, liabilities, income, expenses, and investment goals.
Develop bespoke wealth management strategies aligned with clients' objectives, risk tolerance, and timeframes.
Design and manage investment portfolios using diverse asset classes and investment vehicles.
Offer guidance on retirement, estate planning, tax optimization, insurance, and comprehensive financial planning.
Continuously monitor and adjust clients' portfolios and plans in response to changing circumstances, market conditions, and regulatory updates.
Educate financial advisers on investment strategies, market trends, and financial planning concepts, ensuring regular communication and engagement.
Execute wealth strategies and initiatives to drive business growth within the distribution channel.
Identify and capitalize on emerging trends and opportunities in financial technology.
Ensure alignment with client base, risk profiles, and channel-specific objectives.
Implement financial planning and advisory strategies in line with channel goals.
Conduct detailed financial analyses to uncover opportunities for cost optimization, revenue enhancement, and risk mitigation.
Standardize processes and best practices for delivering financial advice, ensuring compliance with regulatory requirements and industry standards.
Implement risk management strategies and frameworks specific to the channel.
Conduct market research to stay ahead of trends, economic developments, and legislative changes.
Collaborate with business development teams to identify growth opportunities and attract new clients.
Promote the integration of Investment Philosophy, Risk Profiles, Elite Wealth Process, and advisory plans.
Advocate for sound investment behavior among advisers based on wealth philosophy.
Optimize structure and fees.
Client-Centric Wealth Processes:
Develop close relationships with business partners and practices, facilitating investment workshops.
Address clients' needs for wealth creation, preservation, and income, along with wealth management support services.
Foster a client-centric culture, emphasizing personalized, high-quality wealth advice.
Establish strategic partnerships with stakeholders to understand business priorities and requirements.
Provide credible market insights to enable client growth and retention.
Maintain relationships to meet service level agreements, ensuring professionalism, accountability, and competitive targets.
Collaborate with brand and marketing managers to deploy effective strategies for wealth growth and engagement.
Work with the wealth management team to implement operational plans.
Develop ongoing engagement and marketing activities to support investment, savings, and wealth management propositions.
Leadership and Team Management:
Build productive relationships with key stakeholders.
Attract, select, and recruit qualified talent in line with Employment Equity principles.
Create a positive work climate and culture to energize employees and advisers.
Demonstrate exemplary leadership through personal involvement and inclusive leadership.
Drive a culture of best practices, continuous learning, and improvement.
Ensure accurate workforce planning and execution.
Identify growth and development needs for employees and advisers, collaborating on training and personal growth initiatives.
Drive performance excellence by setting team goals and maintaining regular dialogues.
Encourage innovation, integrity, and collaboration within the team.
Financial Management:
Manage the budget and implement sound financial controls.
Authorize expenditures and enforce financial regulations.
Enhance cost-effectiveness and operational efficiency.
Implement risk management, governance, and compliance policies.
Participate in financial policy and procedure effectiveness to prevent illegal or unethical conduct.
Key Competencies:
Business Acumen: Comprehensive understanding of global financial markets, regulatory landscapes, and key business drivers.
Client Commitment: Anticipates and exceeds client needs, fostering long-lasting relationships and supporting financial wellness.
Results-Driven: Exhibits urgency, focus, accountability, and agility to achieve business results.
Leadership: Actively leads change, promotes continuous improvement and innovation.
Team Motivation: Fosters a positive work environment, building trust and commitment.
Strategic Thinking: Develops competitive strategies for short-term profitability and long-term growth.
Collaboration: Aligns efforts across divisions to prioritize business interests.
Influence: Persuades and inspires others to gain support and commitment.
Self-Awareness: Effectively manages self and relationships, providing perspective in challenging situations.
Inclusiveness: Embraces diversity and engages with people from diverse backgrounds.
Talent Development: Takes responsibility for personal development and mentors others.
Qualifications:
Degree in Business Management, Investments, Business Sciences, Finance, Economics, or related fields (Master's preferred).
Postgraduate diploma in financial planning.
Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) designation.
Industry qualifications (RE5 & RE1).
Experience:
5-8 years in financial services, particularly asset wealth management.
5-8 years in investment marketing.
5-8 years in financial advisers' networks or agencies.
Strong knowledge of investment advice philosophy, South African and international wealth management industries.
Familiarity with financial markets, investment strategies, FAIS regulations, exchange control, and financial instruments.
In-depth understanding of global financial markets, governance frameworks, and wealth management strategies.
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