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Job description
Bank Of America Wealth Planning Specialist
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
This job is responsible for supporting Merrill advisors who are interested in addressing their clients' objectives regarding planning, personal philanthropy, and wealth transfer/tax minimization. Key responsibilities include building relationships with advisors, centers of influence, and internal partners, analyzing estate and financial information, and developing planning strategies. Job expectations include building expertise on financial and estate planning topics such as investments, retirement planning, educational planning, estate, gift, and tax planning, and risk management.
Responsibilities:
Leads the client wealth planning engagement process, including the new business review and onboarding process for initial and successor trustee appointments and managed agency services
Develops holistic, integrated planning strategies implemented in concert with the clients' advisors, where appropriate
Expands existing client relationships and acquires new assets to achieve assigned goals for Merrill Lynch Wealth Management, Trust Services referrals and New Trust Sales assets
Demonstrates advanced technical knowledge across a broad range of wealth planning topics, such as trust and estate, income and wealth transfer tax, investments, retirement and cash flow modeling, sale of business entities, and philanthropic planning
Follows major developments in trust, estate/wealth transfer and financial planning, current and proposed tax legislation and understands the impact on clients
Engages Merrill market leaders to drive ultra-high net worth client engagement focused on addressing the planning, personal philanthropy, and wealth transfer/tax minimization needs
Desired Skills:
Knowledge of multiple aspects of Wealth Strategy and implementation including: property law, estate and gift taxes, planning for incapacity, probate and estate settlement, split interest trusts and charitable giving, fiduciary duties, accounting and taxes, sophisticated retirement planning, fiduciary investing and administration.
Ability to translate and communicate complex concepts and strategies to varied audiences (clients, advisors, attorneys, accountants, internal partners).
Proactive and creative approach to problem solving and skill in achieving client goals while adhering to Bank policy/risk profile.
Consultative influence skills with strong active listening and discovery abilities.
Professional presentation, communication, and relationship management skills and ability to influence decision making
Collaborative and able to work well in a team environment.
Self-starter with ability to work under pressure with minimal hands-on direction.
Desired Qualifications:
5 years of wealth planning related work experience (wealth transfer, financial planning, trust planning and/or experience working with high net worth and ultra-high net worth clients).
Proven track record of successful sales experience working with high net worth and ultra-high net worth clients.
JD, CPA, MBA, CFA, CIMA, CTFA or CFP preferred.
Skills:
Business Development
Critical Thinking
Oral Communications
Presentation Skills
Wealth Planning
Active Listening
Collaboration
Customer and Client Focus
Pipeline Management
Written Communications
Adaptability
Attention to Detail
Issue Management
Prioritization
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift: 1st shift (United States of America)
Hours Per Week: 40
Pay Transparency details
US - CA - Los Angeles - 333 S HOPE ST - BANK OF AMERICA PLAZA (CA9193), US - CA - San Francisco - 555 California St - Bofa Center - 555 California (CA5705), US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)
Pay and benefits information
Pay range $180,000.00 - $254,800.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible. This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
Worksite address
san francisco, CA, 94199, US
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.