Senior Associate - Wealth Management - Operations

About the Company: Wealth Tech Platform in the RIA industry. “Independent but not alone”
100M in revenue, 100 billion AUM, zero debt on balance sheet
In the last two years their operations team has grown from 8 to 30. As they continue on their aggressive growth trajectory, they anticipate lots of room for upward mobility and quickly.

4 open positions:
Senior Associate, Asset Management Operations
Senior Associate, Advisory Billing Platform Operations (this could go up to an AVP level) 2 hires
Associate Vice President, Trading Analyst
Location: St. Petersburg, FL 33701 (all onsite positions)
Target Salary: $80-90k + bonus depending on position
Benefits:
comprehensive health, dental, and vision insurance
401(k) with company match
unlimited PTO
bonus
FSA/HSA with company contributions

Job #1: Title: Senior Associate, Asset Management Operations
Report to: SVP, Head of Account Management & advisory Billing
Compensation structure – 80k base + 10%-15% target bonus (this will be prorated for their first year)
Growth position promoted person from within to transitions team.
Team size: 8
Focus: The role's primary functions within the Operations team include performing specific functions associated with the submission and execution of trade instructions provided by advisors and managers, assisting with the set up and ongoing client account program selection on the TAMP, and participating in the duties related to the onboarding of new advisory firms and their clients.

• onboarding accounts
• account management
• data entry
• strong attention to detail, ability to multitask, strong organizational skills
• experience with Excel / SharePoint / MS Suite
• experience working in wealth management (family office, RIA, ideally for a TAMP (Turnkey asset management platform))

Full Job Description:
Leading Wealth Tech platform and the industry advocate for independent financial advisors to help them succeed through powering the future of wealth management. Our mission is to help advisors achieve their entrepreneurial dream of building a more successful enterprise defined by their ability to deliver high-quality, customized financial advice to their clients.

Company offers integrated and differentiated solutions and services ranging from transition support, experience and community, technology and CRM, finance, investments and operations, marketing, compliance, practice management, M&A, and capital strategies. Company has established offices in St. Petersburg (Headquarters), New York City, and Chicago.

JOB OVERVIEW:

The Operations team is responsible for the overall administration of the firm’s turnkey asset management program (TAMP). The Asset Management Operations Associate will report directly to the Head of Account Management and is integral to executing the various duties conducted through the department to include: facilitate trade related requests and inquiries from clients, third party managers, custodians and Resource Partners; execute on client account and manager set up on the Investment Management Account platform; perform tasks as part of the trading operations onboarding process like conducting live and prerecorded training sessions for new advisors; provide excellent client service and support related to all aspects of the operations investments and trading platform. This position must work effectively with internal members of the team to include engaging management, independent financial advisors, and resource partners.

PRIMARY FUNCTION:

The roles primary functions within the Operations team include, but are not limited to, performing specific functions associated with the submission and execution of trade instructions provided by advisors and managers, assist with the set up and ongoing client account program selection on the TAMP, and participating in the duties related to the onboarding of new advisory firms and their clients.

RESPONSIBILITIES:

• Carry out the required processes involving the TAMP platform, including order request management, reconciliation with TAMP technology and the custodian, client interaction, and facilitate procedures with various custodians.
• Communicate with custodians, Resource Partners and home office departments to support TAMP functionality and integration between various aspects of the platform.
• Assist in the ongoing set up and monitoring of accounts and activities on platform for both professionally managed and advisor managed programs.
• Help to identify opportunities for efficiencies in processes and may lead actions toward recommended improvements.
• Frequently participates in root cause analysis to correct and/or prevent deviations in processes and workflows.
• Supports tasks related to advisor onboarding and internal conversions to the trading and investments platforms.
• Provides informal guidance to Operations colleagues.
• Participate in special projects and cross-trains on other departmental functions.
• Acts as backup support while team members are away from the office.
• Other duties as assigned.

QUALIFICATIONS:

• Bachelor’s degree in Business, Finance, or another relevant field.
• Minimum 3-5 years of experience in a trading position or equivalent.
• Prior experience with Wealth Management Software (Addepar, Black Diamond, Envestnet, Folio, Vestmark, 55ip etc.) preferred.
• FINRA Series 7, 63, 65 and/or 66 preferred but not required.
• Provide a high level of customer service in a calm, courteous and professional manner.

Job #2/3
Title: Senior Associate, Advisory Billing Platform Operations (this could go up to an AVP level) 2 hires
Report to: SVP, Head of Account Management & advisory Billing
Compensation structure – 80k base + 10%-15% target bonus (this will be prorated for their first year). (if AVP can potentially go higher on the salary)
Grow position – she has promoted 4 people out of this team in the last 12 months.
Team size: 10
Main focus: The Operations team is responsible for the overall administration of the firm’s turnkey asset management program (TAMP). This role is integral to executing the various duties conducted through the department, including client account setup on the Investment Management Account platform, performing tasks as part of the transition operations onboarding process, providing excellent client service related to client accounts, and processing advisor and manager fee billing.

• process and calculation of billing for accounts/advisors on TAMP
• excel
• Power BI (building out dashboards)
• redi2 (billing software they use)
• Envestnet
• client facing – be able to communicate with confidence, ability to present well, and pickup things quickly
• CSA background, family office, or RIA works.

Full Job Description:
We are seeking a motivated, self-starting individual to join our firm as an Associate, Advisory Billing Platform Operations. You will actively engage with sophisticated independent financial advisor clients, collaborate across the business with members of the team, and partner with external resource partners and agencies. This role will report directly to the SVP, Head of Account Management & Advisory Billing, and is an in-office position in downtown St. Petersburg, Florida. The Operations team is responsible for the overall administration of the firm’s turnkey asset management program (TAMP). This role is integral to executing the various duties conducted through the department, including client account setup on the Investment Management Account platform, performing tasks as part of the transition operations onboarding process, providing excellent client service related to client accounts, and processing advisor and manager billing. This position must work effectively with internal members of the team and engage management, independent financial advisors, and technology resource partners.


RESPONSIBILITIES:

• Carries out the required processes involving the TAMP billing platform, including maintenance, reconciliation, client interaction, and employing the fee debiting methods with various custodians.
• Work directly with team members and our clients as subject matter expert to ensure the delivery of Operational advisory fee billing activity.
• Participate and drive expectations in root cause analysis to correct and/or prevent deviations in processes and workflows. Recommend and implement changes to avoid future occurrences
• Communicate with custodians, resource partners, and home office departments to support TAMP functionality and integration between various platform aspects.
• Monitors accounts and activities on the platform for professionally managed and advisor-managed programs.
• Assists in compiling and analyzing data on a monthly/quarterly basis in accordance with billing and service practices.

QUALIFICATIONS

• Finance: Bachelor’s degree in finance, accounting, computer science, data analytics, or a relevant field.
• 1 – 3 years of experience in financial services or applicable industry.
• Familiar/proficient with various reconciliation tools, including but not limited to Excel (Formula Builder, Pivot Tables, etc.), PowerBI, Sharepoint, Salesforce, and custodians such as Schwab, Fidelity, and Pershing
• Wealth Management or Financial Services background is helpful but not required
• Entrepreneurial mindset – Ability to adapt and innovate in a fast-paced environment
• Client experience – Ability to consult internal and external clients; Strong client-first mentality
• Culture carrier – Adopt culture of accountability, fairness, teamwork, and transparency
• Strong quantitative and analytical skills – You can detect and translate a story behind numbers and data
• Verbal and written communication skills – You can translate and present complicated ideas in a simple, easy-to-understand yet inspirational/creative style

PROFESSIONAL DEVELOPMENT:

• Act with an entrepreneurial spirit and a willingness to show initiative
• Be willing to work hands-on and deliver against the outputs of strategic Operations initiatives and programs
• Think proactively to create value and stickiness with clients (both internal and external)
• Be comfortable working and thriving in a demanding and fast-paced environment
• Be a culture carrier and adopt culture of accountability, fairness, teamwork, and transparency
• Show eagerness to learn and grow within the firm

Job #4:
Title: Associate Vice President, Trading Analyst
Report to: SVP, Head of Managed Accounts and Investment Operations
Compensation structure – 90k base +15% target bonus (this will be prorated for their first year)
Growth position, promoted person in seat
Team: 2
This person will be handling the trading platform – the execution and maintenance of the trades.

• 55ip
• Vestmark
• Blackrock
• asset manager experience is ok or institutional experience. Does not necessarily need to come from a wealth management background.
• CSA with Series 7 or Series 66 is desirable but not required.

Full Job Description:
JOB OVERVIEW:
The Operations team is responsible for the overall administration of the firm’s turnkey asset management program (TAMP). The Asset Management Operations Assistant Vice President (AVP) will report directly to the Head of Advisor and Manager Trading and is integral to executing the various duties conducted through the department to include: facilitate trade related requests and inquiries from clients, third party managers, custodians and resource partners; execute on client account and manager set up on the Investment Platform; perform tasks as part of the trading operations onboarding process like conducting live and prerecorded training sessions for new advisors; provide excellent client service and support related to all aspects of the operations investments and trading platform. This position must work effectively with internal members of the team to include engaging management, independent financial advisors, and resource partners.

PRIMARY FUNCTION:
The roles primary functions within the Operations team include, but are not limited to, performing specific functions associated with the submission and execution of trade instructions provided by advisors and managers, assist with the set up and ongoing client account program selection on the TAMP, and participating in the duties related to the onboarding of new advisory firms and their clients. The Role will include working with 3rd party investment managers and interacting with their platform and conducting the needed workflows to enroll and service client accounts. The role will also include developing relationships with the various investment managers and service partners to foster a positive working relationship and identify opportunities for efficiencies. The role will include participation in creating and developing new workflows and procedures as needed. The role will also include working with the Managed Accounts team relating to the remediation, reconciliation and reporting around trade errors that are booked by on behalf of our clients.
RESPONSIBILITIES:

• Carry out the required processes involving the TAMP platform, including order request management, reconciliation with TAMP technology and the custodian, client interaction, and facilitate procedures with various custodians.
• Communicates with custodians, Resource Partners and home office departments to support TAMP functionality and integration between various aspects of the platform.
• Assist in the ongoing set up and monitoring of accounts and activities on platform for both professionally managed and advisor managed programs.
• Help to identify opportunities for efficiencies in processes and may lead actions toward recommended improvements.
• Frequently participates in root cause analysis to correct and/or prevent deviations in processes and workflows.
• Supports tasks related to advisor onboarding and internal conversions to the trading and investments platforms.
• Participate in special projects and cross-trains on other departmental functions.
• Acts as backup support while team members are away from the office.
• Work with the Manager Service Team as a liaison between our advisors and the 3rd Party Managers
• Interface with various 3rd party manager web-based platforms for acct enrollment and account servicing.
• Provide Support for the Manager Service team during transitions and ensure accounts are appropriately enrolled and serviced within our SLA, including working with custodians to complete bulk tasks.
• Work with 3rd Party managers to resolve any client acct issues and custodian restrictions and trouble shoot technical issues relating to accounts.
• Work with the manager and the Managed Accounts team relating to any trade errors that may arise and provide relevant data, analysis and reconciliation as needed.
• Other duties as assigned.

QUALIFICATIONS:

• Bachelor’s degree in Business, Finance, or another relevant field.
• Minimum 3-5 years of experience in a trading position or equivalent.
• Prior experience with Wealth Management Software (Addepar, Black Diamond, Envestnet, Folio, Vestmark, 55ip etc.) preferred.
• Ability to analyze information and make recommendations.
• Proven communication skills (both oral and written).
• Strong attention to detail to ensure quality standards are met without impairing workflow.
• Must be able to partner, collaborate and work in a team environment.
• Strong organizational and time management skills needed to prioritize workload, handle multiple tasks, and meet deadlines.
• FINRA Series 7, 63, 65 and/or 66 preferred but not required.
• Provide a high level of customer service in a calm, courteous and professional manner.