The Wealth Strategist is a highly visible position that is responsible for working closely with Private Wealth Advisors (PWAs), Financial Advisors (FAs) and management in the assigned markets. The primary responsibilities of this role are to help develop wealth transfer strategies for the UHNW clients ($25mm+) of PWAs and FAs, enhancing client relationships with the firm and resulting in a) acquisition of new clients, b) expansion of existing wallet share, and c) retention of clients. The successful candidate will have an in-depth knowledge of Estate and Gift Taxes, Philanthropy, Trust Structures, Insurance, Income Tax Planning, and Investment Management. This includes a comprehensive understanding of Merrill Lynch’s suite of solutions, platforms, and initiatives.
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Client Meetings:
Co-lead with PWAs/FAs client meetings on a broad range of wealth transfer strategies and estate planning topics.
Develop recommendations and assist the PWAs/FAs to implement customized planning strategies for UHNW families.
Communicate with outside advisors such as estate planning attorneys, accountants, and family offices.
Partner with trust, philanthropic, and insurance specialists.
Client Events
Present on the topic of wealth transfer and estate planning at national, regional, and team events.
Thought Leadership:
Author whitepapers, articles, and other material on topics impacting the UHNW client segment.
Serve as a technical resource on the topics of wealth transfer and estate planning.
Advisor Team Preparation
Educate PWAs/FAs on wealth transfer strategies and estate planning topics.
Participate in financial advisor segmentation testing.
Stay current on technical developments.
Enterprise Role Overview
Partner with FAs in client solicitation efforts and generating wealth management strategies for our UHNW clients and prospects. Develop recommendations and assist FA to implement customized planning strategies for UHNW families. Focus on transfer of inter-generational wealth, estate planning, divers/fication of a concentrated position, philanthropy, private planning business succession and retirement planning. Author whitepapers, articles an other material on topics impacting the UHNW client segment. Assist Advisory with the retention of UHNW relationships.
Qualifications
Required Skills:
Law degree required. CPA license is preferred.
Advanced degree or certification (e.g. LL.M, MST, PFS, CPWA) strongly preferred
Expertise in advanced estate, philanthropic, and financial planning concepts and techniques
Minimum of 7 years of private practice or planning experience for UHNW families and individuals
Previous experience in the financial services industry
Excellent communication and presentation skills
Solid tax and legal research skills
Travel - 25%
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