The Financial Advisor Trainee engages in :
Developing a book of business in order to meet and exceed the required performance hurdles
Effectively sourcing prospective clients, capitalizing on referrals, assessing customer needs, referring customers to the appropriate service provider, and executing highly customized solutions to meet the customer needs
Recommending investment products and services that are suitable for prospects and clients based on their objectives, resources, time horizon, risk profile and preferences
Balancing investment growth, referral activities, customer follow up, prospect building, administrative compliance and personal growth and development according to both a day-to-day and longer-term plan
Planning and managing resources (time, people, budget) to run a productive practice
Seeking the expertise of specialists, where appropriate, to identify planning and investment strategies for a client
Establishing and maintaining relationship with the management team and informing management of any circumstances that require supervisory attention / review / approval as per compliance guidelines and policies
Completing mandated training, assessments, performance goals and continuing education requirements
The Financial Advisor Trainee receives :
The strength and name recognition of Merrill Lynch and Bank of America.
A base salary through the full three plus years in the PMD program. This roll will become a fully commissioned position after completion of the PMD program.
World class training throughout their career with Merrill Lynch
State of the art software programs to assist in your success
Access to a full array of investment and banking products for your clients
Coaches or mentors located within your office to work with you towards your success
Ideal candidates :
The PMD program is designed for individuals ready to make a career transition and follow their passion of becoming a Financial Advisor.
Successful candidates have at least three years of full time sales experience in ever more challenging environments. The sales experience should include the successful use of outbound sales techniques to exceed sales goals.
Financial acumen gained through work experience is ideal.
Essential Duties and Responsibilities :
Performance Hurdles : A Financial Advisor Trainee must acquire clients through personalized marketing techniques to meet minimum performance hurdles.
Registration and Licensing Requirement : A Financial Advisor Trainee is required to obtain necessary licensing and registrations (Series 7 and Series 66 and Insurance).
Education Requirement : A Financial Advisor Trainee is required to complete the Certified Financial Planner (CFP) Investment Planning Course and the Financial Planning course.
Development Assessment : A Financial Advisor Trainee must successfully complete ongoing Developmental Assessments throughout the training.
In preparation for the assessment, the Financial Advisor Trainee studies a variety of topics and may participate in developmental activities in the areas including but not limited to : Merrill Lynch strategy, products & services, wealth management process, desk top technology, marketing consultative sales skills and investment financial planning knowledge.
Performance Requirements : A Financial Advisor Trainee is expected to meet the performance and development requirements of the PMD Program and transition to a full Financial Advisor at the conclusion of the PMD Program.
Proven ability to engage with and influence others
Exceptional interpersonal and relationship building skills
Effective communication skills (written and verbal) - Proven ability to quickly build trust and credibility
Proven ability to assess needs of clients and recommend appropriate solutions / interventions
Proven ability to work collaboratively on a team and with key partners
Proven ability to listen and probe for clarity and understanding
Goal and results oriented
Ability to source clients through prospecting and networking
Ability to work in an environment where the majority of your compensation is tied to your performance
Strong follow-through skills
Computer / technical literacy and proficiency in Microsoft Word, PowerPoint, Excel
Desired skills :
At minimum a Bachelor’s Degree
Demonstrated track record of success
Proficiency in using Sales Force / Client Relationship Manager Tool
Strong understanding of the Financial Advisor role