Job Description for Advanced Planning Senior Associate: First Republic is an ultra-high-touch bank that provides extraordinary client service. We believe that one-on-one interactions build lasting relationships. We move quickly to serve our clients so that their financial needs and goals are addressed with ease and efficiency. Client trust and security are paramount in our line of business. Ultimately, our goal is unsurpassed client satisfaction which will lead to personal referrals – our number one source of new business.
We recognize that our competitive advantage starts with our people and our culture. At First Republic, we work hard and move quickly as a very coordinated team. If you are looking for an opportunity to grow and contribute in a fun, fast-paced environment, First Republic is the place for you. We have exceptional people focused on providing extraordinary service.
The Advanced Planning Senior Associate will support First Republic’s Advanced Planners who are responsible for the development, design and implementation of comprehensive financial plans as well as other wealth planning deliverables. The Advanced Planning group serves multiple client segments but the Advanced Planning Senior Associate will primarily support the Advanced Planners for the $15 million net worth client and up; on average $40-50 million net worth client. The position offers an excellent opportunity for an individual seeking to build a career in financial planning. Responsibilities range from supporting our planning professionals to acting as the first point of contact for individual clients.
Primary responsibilities include:
Develop client financial plans or planning deliverables:
- Compile information, conduct research and assemble all applicable client data necessary to develop a solid, viable, meaningful financial plan; this process often involves direct contact with the client/client delegates or investigative research using available online tools.
- Utilize financial planning software to build financial models based on client data and information compiled.
- Independently analyze data and perform quality control testing to ensure the accuracy and reliability of the analysis developed by the financial planning
- Independently review and prepare analysis of client trust documents for review by an Advanced
- Take the lead in development, review and completion of financial plans, client documentation, and analysis for Advanced Planner approval.
- Develop and maintain strong relationships with clients, accountants and attorneys to ensure data, analysis and plans are accurate and
Secondary responsibilities:
- Ensure engagement letters and welcome packages are sent to clients
- Manage confidential client information
- Manage client pipeline and/or engagement from initiation to completion
- Maintain metrics needed to measure outcomes of the client engagements
- Main point of contact with private banking, wealth management teams and internal resources regarding client engagements
- Ensure invoices are effectively
- Lead various special projects related to planning The successful candidate will demonstrate:
- Existing expertise or willingness to obtain expert knowledge of financial planning software, specifically eMoney and WealthTec Additionally, the Senior Associate should:
- Have an understanding of financial planning concepts, strategies and solutions sufficient to independently understand how and what to model in the financial planning
- Perform independent research as needed to gain a technical understanding of concepts and strategies candidates are not familiar with that would aid in their analysis.
- The aspiration of being a team player with a sincere desire to play a role in a growing Financial Planning
- The individual should demonstrate dynamic analytical and technical abilities, impeccable communication skills and strong attention to detail
- Strong interest in financial planning; experience with complicated planning a plus
- Proficiency with Microsoft Office, Power Point, Excel and a familiarity with or ability to be trained on NumberCruncher, WealthTec, and eMoney software
- Strong understanding of or solid foundation in essential planning concepts (i.e., estates and trusts, insurance, stock options, taxes, cash flow planning)
- Solid understanding of investments and financial markets
- Familiarity with banking and wealth management products and services
- Ability to manage multiple responsibilities under high pressure
- Strong communication and follow-up skills
- Sound judgment and reasoning abilities
- A “high touch” client service approach
- Minimum of 2-5 years of experience in financial planning
- Intellectual curiosity
- Tax background or Certified Financial Planner (CFP) designation preferred but not required Mental/Physical Requirements:
- Vision must be sufficient to read data reports, manuals and computer screens
- Hearing must be sufficient to understand a conversation at normal volume, including telephone calls and in person
- Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions
- Position involves sitting most of the time, but may involve walking or standing for brief periods of time
- Must be able to travel in a limited capacity