Wealth Consultant

Job Description: Wealth Consultant

In the position of a Wealth Consultant, one must cultivate strong relationships with clients, earning their trust through transparent communication and reliable financial guidance.

This role is accountable to invoke trust and build strong client relationships, determine individual investment needs and provide professional, customized advice to ensure client's financial goals are met. You will provide a superior client onboarding experience, actively reviewing client portfolios and preparing and presenting appropriate investment solutions by leveraging various tools provided by the bank. Being the first point of client contact, the Financial Advisor's core mandate is to provide investment recommendations based on client suitability, time frame and goals. The Wealth Consultant has the ultimate goal of building and solidifying customer loyalty while deepening client relationships.

Customer:

• Knowing the ins and outs of financial markets and recognizing the optimal times to provide clients with counsel is vital
• Creating a foundation of trust and building robust customer relationships is done by guiding individuals on acceptable risks and the performance standards necessary to fulfill their financial aims.
• Develops and sustains exceptional client relations while formulating customized plans to help clients achieve their financial objectives.
• Skilled professional with expertise in investment products spanning 15 distinct categories
• Mutual Funds
• Annuities
• Managed Accounts
• Marked Linked CDs
• Unit Investment Trust
• Retirement planning
• Regular yearly examinations of fee-based accounts

Financial:

• Held responsible for the continuous advancement of the portfolio
• Hit the monthly sales goal
• External Acquisition of Assets (like obtaining from existing and prospective clients)
• Advice on Maturities
• Uncovering uninvested opportunities

Risk:

• Ensuring adherence to internal and FINRA auditing standards
• In the role of gatekeeper, the Advisor is tasked with granting approvals that adhere to the regulations prescribed by the industry's governing authorities

Financial Advice:

• Investment Reviews
• Developing Financial Plans
• Solution Positioning
• Preserving the Confidentiality of client Personal Information

Trading:

• Accuracy
• Discipline order/confirmation
• Determine the essentiality of the trade
• It is important to follow the guidelines outlined in the Best Interest Contract (BIC) for each recommendation given
• Keep pace and adjust to the continuously shifting regulatory realm
• Demonstrate strong familiarity and function as a knowledgeable source in software tools including LPL's ClientWorks, SalesForce, and Moneyguide-Pro

Obligations / Decision Framework / Reach & Significance:

• Decision Making - Advise on investment choices tailored to the client's appropriateness, investment horizon, and objectives
• Offers wealth and investment-related sales and support to BMO customers or prospects while taking into consideration their financial objectives and preferences. Delivers personalized wealth and investment advice to align with the customer's best interests.
• Performs customer service and sales duties based on approved protocols and indicates potential referrals to other business units.
• The capacity to interpret and elucidate Cost Basis, Tax records, IRA (Individual Retirement Account) RMD (Required Minimum Distribution) withdrawals, and repercussions of early withdrawals can empower individuals in their financial decision-making
• Validate client account records and secure approvals from relevant regulatory bodies
• Utilize influence to shape the delivery of investment guidance according to the BIS offerings and applicable securities laws
• This position is vital for driving the business unit towards achieving its primary objectives

Knowledge and Skills:

• An undergraduate degree combined with 3-5 years of involvement in the financial industry is essential
• It is customary for financial experts to obtain licenses such as Series 7 and 66, or to pursue a blend such as Series 7, 63, and 65 licenses along with insurance licensing for life and health insurance
• It is imperative to adhere to the background check standards outlined in U4 guidelines
• BMO and FINRA are in charge of managing ongoing educational courses

Advantages of Nurturing Your Professional Growth at This Workplace:

• Tailored incentives and bonuses tied to individual performance
• Work within a tech-savvy atmosphere that encourages the adoption of creative solutions
• Enhance your skills through access to professional tools, valuable resources, in-depth training, and continual support from your manager
• By being a part of North America's eighth largest bank for over 200 years, you have the opportunity to build relationships with numerous employees, fostering professional connections and opening doors to new possibilities

About Us:

BMO is steered by a collective Mission: Boldly Cultivate the Good in business undertakings and daily life. This commitment inspires us to forge lasting, favorable changes for our clients, societies, and workforce. Through collaboration, innovation, and boundary-pushing endeavors, we revolutionize lives and organizations, fostering economic growth on a global scale.

Within the BMO team, every member is valued, respected, and given a chance to grow and make a positive difference. Our objective is to encourage you to have an impact from day one, both for yourself and for our customers. We will provide you with the necessary resources and assistance to reach new achievements while helping customers attain theirs. Through extensive training, coaching, manager support, and networking possibilities, we are dedicated to helping you enhance your skills and gain valuable experience.

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