Private Client Advisor Manager
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POST DATE 9/13/2016
END DATE 11/13/2016
Kansas City, MO
JOB DESCRIPTION19797 Private Client Advisor Manager (Open)
Grade 11 ----------------------------------------------------------------------
Location: 922 Walnut St, Kansas City, Missouri 64106 ----------------------------------------------------------------------
How would you like to work for a great company that offers career growth and values your skills and experience? For over 150 years, Commerce Bank has built a strong reputation as a Super Community bank and is recognized as an industry leader. In today's growing and competitive financial services industry, we look for creative and innovative solutions to meet the needs of our customers. To achieve our results, we recruit the best and brightest employees who ask, listen and solve to meet our customers' needs!
The Commerce Trust Company, a division of Commerce Bank, is ranked among the top 25 investment advisors in the U.S with over $39 billion in client assets. The Commerce Trust Company concentrates on serving individuals, families, business owners and institutions and their investment management needs through a combination of world class capabilities and resources, objective advice, customized solutions and unparalleled service.
The Head of Private Client Services will oversee the administrative policies and functions of the Private Client Advisory team. This individual manages a set of team leaders in addition to handling their own book of business, which consists primarily of key client relationships. The Manager will provide leadership and management of the department, which includes coaching, training, reviewing revenue per desk and sales to help the team leaders and their advisors reach their goals. The PCA Manager is responsible for the overall profitability of the department.
The Private Client Advisory team serves as the relationship manager for the clients and handles the opening, administration and closing of personal fiduciary accounts within The Commerce Trust Company including advisory and agency accounts, irrevocable insurance trusts (ILITs), IRAs, trust accounts, and custody accounts. The PCA Manager manages the team leaders who provide day-to-day management decisions regarding these accounts often involving the use of available expertise within The Commerce Trust Company including investments, taxes, trust counsel, real estate management, estate planning, applicable laws, and financial advice. The use of the Manager's own expertise and client knowledge along with the expert resources available are used to develop, retain and expand client relationships, particularly within the affluent market segment.
The Head of Private Client Services has responsibility for new business development and expansion as well as fee revenue growth within their book of business by retention of current business, referrals, sales and assisting in sales of new accounts. They are also responsible for the referrals and assists in sales of other bank products such as credit relationships, deposit accounts, insurance and other services. In addition, they will be responsible for the fee revenue growth and sales for the entire Private Client Advisory group. This includes new business presentations and seminars to specific groups as requested.
The Head of Private Client Services will also assign new business, manage department staffing needs, provide input and manage the annual budget and stay abreast of employee performance within the department.
An important function of the Head of Private Client Services, both as an administrator and the head of the private client advisory group is being able to control risk to the Trust Company for taking or failing to take a particular action in regard to administration of an account. The Head of Private Client Services has the responsibility to be sure that the policies and procedures are being followed and that if complaints happen, that they follow the compliant procedure to be sure the any complaints are being addressed.
The Head of Private Client Services will also be responsible for serving on internal committees and influencing and building internal relationships with their bank partners and internal referral sources. In addition, the PCA Manger shall be expected to be in a community leader, serving on boards of professional organizations and not-for-profit organizations.
Work hours: Monday-Friday 8am-5pm.
-Bachelor's degree is required. A master's degree and/or JD are preferred.
Preferred applicants will have:
The following competencies, skills and proven experience in the following areas are required to be successful in this role:
* Ten or more years of experience in Trust, Banking or Wealth or Investment Management in a fast-paced environment with a focus on accuracy, service and accountability to deliver results, both individually and with a team.
* Trust School and CTFA preferred.
* Proven leadership experience with the ability to mentor and coach experienced staff.
* Strong knowledge of estate planning terms and tax returns.
* Knowledge of Life Insurance and Annuities.
* Proven track record of working with high net worth clients
* Knowledge of estate and financial planning
* Strong financial acumen and advanced knowledge of investment terms.
* Proven ability to execute sales plans
* Demonstrated functional knowledge of the various Trust Company account types.
* Demonstrated understanding of pertinent legal and compliance issues.
* Satisfactory knowledge of other bank products.
* Ability to work within a team-based environment
* Ability to work independently, build trust and confidence in both clients and internal business partners
* Demonstrated written and verbal communications skills and good organizational skills
* Results oriented and self-motivated.
* Expertise with Microsoft Office and prior knowledge or the ability to learn internal systems such as Metavante, (trust accounting) Goldmine (client contact) and other systems as needed.
* A Relocation Package is available for this position.