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Executive Wealth Strategist

Bank of America

Bank of America

Charlotte, NC, USA · Las Vegas, NV, USA · Chicago, IL, USA · Dallas, TX, USA · Los Angeles, CA, USA · United States · Remote
Posted on Thursday, June 13, 2024

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:

The Executive Wealth Strategist works with corporate clients and individual executives of those companies in the delivery of the financial wellness benefit, Executive Wealth Services. Serving as the singular service delivery point of contact to the company, the strategist gains a comprehensive understanding of the company benefits to drive advanced education to eligible participants and meets periodically with company representatives to provide ongoing reporting of program participation and success. The strategist serves as the initial point of contact with the eligible executives of the client company to gain an understanding of their personal financial objectives and priorities to deliver comprehensive financial and estate planning solutions, giving special attention to integrate their company benefits. By introducing a highly skilled advisor to the relationship, the strategist acts as a member of the team to deliver the full suite of wealth management services. The strategist answers client's estate and financial planning questions by performing a variety of analyses, creating recommendations for the client based on those analyses and integrating those recommendations into a holistic plan designed to achieve the client's goals. Through meaningful interactions with the individual executive, the Strategist plays a major role in helping the selected team expand the scope of the relationship.

Responsibilities:

  • Leads the wealth planning engagement process with clients from start to finish
  • Works with Wealth Strategy Specialists and/or Wealth Strategy Analysts to gather information, run analyses, and develop planning solutions based on these analyses
  • Develops holistic, integrated planning strategies for clients with a focus on how Bank of America can help implement those strategies in concert with the clients’ advisors where appropriate
  • Expands existing client relationships and assists Advisors in new business opportunities with high- or ultra-high net worth clients and prospects who are interested in wealth planning
  • Demonstrates advanced technical knowledge across a broad range of wealth planning topics such as trust and estate planning, income and wealth transfer tax planning, investments, retirement planning and cash flow modeling, sale of business entities, and philanthropic planning
  • Stays up-to-date with major developments in trust, estate/wealth transfer and financial planning, while following current and proposed tax legislation and understanding the impact on clients
  • Builds a network with local centers of influence to create a business referral network of clients who would benefit from the bank's services Responsible for gathering information about company benefits, equity plans, and retirement plans and educating the advisor teams about each corporate client’s plans.
  • Conducts interviews with eligible executives to understand their financial profile, goals, and priorities to match them with a suitable advisor team to deliver wealth management solutions Complements the company annual enrollment by providing education to eligible participants about maximizing the impact of the company provided benefits
  • Provides high level guidance on tax implications of benefits participation and the consequences of equity compensation plans
  • Assists in developing and executing marketing and sales efforts, including speaking at seminars and authoring articles for publication Assists in developing and executing marketing and sales efforts, including speaking at seminars and authoring articles for publication
  • Understands the enterprise offerings across Financial Life Benefits to make appropriate introductions for expanded corporate offerings if warranted

Desired Qualifications:

  • Minimum 10 years of planning-related work experience
  • Gain client's respect and trust by listening to the client's goals and then building an effective and creative strategy for achieving those goals.
  • Advanced understanding of a wide range of subject matters including income taxation, equity compensation, elective deferred compensation plans, insurance, investments and cash flow modeling, and broad executive compensation topics.
  • Advanced understanding of the transfer tax system and core tax savings strategies such as irrevocable trusts, SIDGTs, and GST trusts.
  • Advanced understanding of charitable and non-charitable split interest trusts (CRTs, CLTS, GRATs, QPRTs).
  • Expand existing client relationships, assist advisors in new sales, and represent the firm in the marketplace.
  • Word, Excel, and PowerPoint.
  • Various Wealth Strategy stochastic models and planning software such as WealthMaster.

Skills:

Critical Thinking

Oral Communications

Presentation Skills

Wealth Planning

Written Communications

Active Listening

Business Development

Collaboration

Customer and Client Focus

Networking

Issue Management

Prioritization

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Desired Designations: JD, CPA, or CFP a plus

Shift:

1st shift (United States of America)

Hours Per Week:

40