Senior Financial Advisor
Vanguard, one of the world’s largest investment management companies and a recognized employer of choice, seeks a Senior Financial Advisor to provide advice to ultra-high net worth clients, with a focus on clients with $15M or more assets under management, utilizing both one-time and ongoing portfolio management solutions. To clearly communicate Vanguard’s investment philosophy and recommendations to assist clients to reach their financial goals. To work well within a collaborative team environment, partnering with internal representatives to serve client needs and providing coaching/mentoring for crew development.
- Acquires and manages the department’s largest and most complex client/family ultra-high-net-worth (UHNW) relationships, typically those with $5 million or more in Vanguard assets. Interacts with contacts such as family patriarch/matriarch, several family generations, and family representatives such as business advisors, estate planning attorneys and accountants. Develops thorough understanding of clients’ needs and incorporates knowledge of complex investment management and wealth planning strategies into the relationship management objectives. Effectively communicates expert-level understanding of investment and tax strategies employed for various types of trusts.
- Has discretionary authority to manage the portfolio of client/family assets. Flawlessly executes portfolio transition strategies, portfolio construction, tax minimization strategies, individual securities management (stocks and bonds), performance analysis and attribution, and overall application of AMS investment methodology while also embracing flexibility. Articulates and applies hedging strategies as necessary where concentrated positions exist. Demonstrates expertise regarding alternative asset classes, derivative strategies, and sophisticated tax management techniques. Conducts investment reviews for the client (e.g., market and economic performance, portfolio and fund performance, portfolio construction, and asset allocation) and/or the client’s representatives and/or investment committees. Provides clients with superior communication through qualitative, professional, credible and engaging dialogue.
- Identifies and plans for sophisticated wealth planning issues. Where necessary, coordinates and draws on Vanguard tax, legal and investment expertise. Has understanding of dispositive provisions in wills and trust documents and how those provisions relate to estate tax and trust law in accomplishing the client’s goals. Discusses document language with client and estate planning attorneys to ensure compliance with Vanguard National Trust Company or legal requirements. Maintains thorough working knowledge of advanced tax and estate planning issues.
- Actively participates in the sales process with prospective UHNW clients and family representatives (many of which will be high-profile internally and/or externally) and is primarily responsible for deepening existing client relationships (garnering client assets outside of our current management and obtaining referral business opportunities from existing clients). Cross-sells other Vanguard services and products which might be useful to client based on awareness of their needs. Serves as a Vanguard “ambassador” by responding to a wide range of client questions in an effort to best represent the Vanguard story and value proposition.
- Serves as a department leader, mentor, role model and technical resource to less experienced financial advisors and AMS staff in general.
- Participates with Retail Advice management on special projects or committees, including active involvement in shaping the future of the UHNW and Trust business within Personal Advisor Services.
- Participates in regulatory review by the Office of the Comptroller of the Currency or internal/external audit reviews of client accounts.
- Maintains an in-depth understanding of compliance, regulatory and departmental policies and procedures. This includes obtaining a thorough knowledge of the regulatory requirements of the Bank Secrecy Act (BSA) and Asset Management Services (AMS) internal BSA compliance and anti-money laundering policies and procedures.
- Participates in special projects and performs other duties as assigned, including corporate-wide initiatives and talent efforts.
The ideal candidate should possess:
- Undergraduate degree in finance related field preferred. Advanced degree (e.g., MBA) preferred.
- CFP designation required. CFA is a plus.
- Minimum eight years of directly related experience with proven client relationship skills, wealth management technical competencies, and sales related experience.
- FINRA Series 7, 63, and 65 licenses.
- Superior technical skills related to investment management and broad financial planning.
- Proven track record in directly serving UHNW clients.
- Excellent written and verbal communication skills, including strong presentation skills.
- Superior computing skills including spreadsheet capabilities and other analytical applications.
- Demonstrated executive and client presence, and ability to positively influence professional community (CPAs, attorneys, etc.).
- Broad knowledge of Vanguard funds and investment process; broad awareness of competitive landscape and general business environment.
There will be some travel required to meet with clients, prospects, and/or their representatives face-to-face. It is estimated that approximately 15-20% of annual position requirements will require some form of travel.
Vanguard is not offering visa sponsorship for this position.
Position will have direct responsibility for $700 million to $1 billion of discretionary managed assets. Individually, accounts will include investable client assets ranging from $5 million to $50 million-plus. Additionally, the client base will include private, high-profile, and influential individuals and families.
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