Managing Director, Wealth Advisor

ID
2022-15792
Job Locations
US-NY-New York

 

At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here. 

 

Incredible teams doing exceptional work, every day

First Republic Private Wealth Management is comprised of investment management, brokerage, trust, financial planning and insurance professionals within First Republic Investment Management (FRIM), First Republic Securities Company (FRSC),  First Republic Trust Company (FRTC), and Foreign Exchange. We offer customized wealth management solutions for our clients from a wide array of services including comprehensive investment management, financial planning, estate planning, trust services, endowment management and more. Our goal is to understand our clients’ unique needs and support them throughout a lifetime of financial goals.

 

First Republic Wealth Advisors market and sell First Republic’s wealth management services to prospects, many of whom are existing clients of the bank’s deposit and lending products and services. Relationship Managers and Business Bankers at First Republic have formed strong relationships with a wide range of high net worth individuals and leading businesses by meeting their deposit and lending needs with an extraordinary level of service. First Republic Wealth Advisors work with these bankers as well our Preferred Banking Offices to identify investment management prospects, help identify client’s financial needs and objectives, and recommend appropriate wealth management solutions. While the Wealth Advisor’s principal responsibility is to focus on bankers and generate wealth management business from existing clients, the Wealth Advisor will also be expected to generate their own business and source new clients.

 

The goal of the Wealth Advisor is to increase assets under management at First Republic Bank by marketing wealth management products and services to meet client needs, becoming our client’s trusted wealth advisor, and maintaining strong client relationships. Because of the wide range of investment alternatives available to clients, the Wealth Advisor is able to offer clients independent and sound investment advice, offer attractive investment alternatives, and deliver a high level of service.

 First Republic believes in an “open architecture” philosophy with regard to its products and services. We can provide customized portfolio management services for particular investment strategies, tax considerations or liquidity goals of clients, as well as access outside funds and managers to best represent asset styles in a client’s asset allocation strategy. The role of Wealth Advisor is to effectively represent all of the platform’s products and services to best meet client objectives. A summary of these offerings are shown below:

 

Entity Offering:

  • First Republic Investment Management - Customized Portfolio Management
  • First Republic Securities Company - Full-service brokerage and online self-directed services
  • First Republic Trust Company - Able to act as a trustee, successor trustee, custodian, and escrow agent
  • Financial Planning - Deliver full range of financial planning services, including life insurance
  • Insurance Services - A full range of insurance products and services, including annuities
  • Foreign Exchange - A wide range of foreign exchange services

The team that works with our clients generally consists of:

  • The Relationship Manager (or other banker) that manages the overall bank relationship with the client;
  • The Wealth Advisor, who initially helps determine the appropriate investment solutions for the client and serves as an ongoing resource to clients;
  • a Portfolio Manager (at First Republic Investment Management or First Republic Securities Company) that acts as the day-to-day manager of the client’s investment assets
  • A Financial Planner for certain clients
  • An Insurance Specialist for certain clients
  • A Trust Officer in instance where we deliver trust services to the client

Successful candidates will champion the firm’s private wealth management services both internally and to clients. The objective of this position is to gain the confidence of the First Republic bankers in an effort to collaborate with them to grow assets under management from existing clients and prospects. The Bank has multiple wealth management alternatives available to prospects and the Wealth Advisor should take on a flexible, strategic approach to determining the most appropriate solution for each client opportunity. While most of the new wealth management business generated by the Wealth Advisor will originate from banker referrals, the Wealth Advisor will also be expected to conduct their own business development efforts and source their own new clients.

 

Specific responsibilities include:

  • Establish credibility and build confidence as a trusted investment advisor with relationship managers, other bankers, and
  • Collaborate with relationship managers to identify and prioritize prospects for private wealth management
  • Generate new assets under management through the bank’s existing lending relationships and the initiation of new relationships.
  • Serve as the primary contact for wealth management
  • Evaluate clients’ portfolios to assist Portfolio Managers develop asset allocation recommendations and investment strategies.
  • Manage client interaction with other First Republic related investment
  • Keep abreast of trends and strategies in wealth

 

The successful candidate will be a “roll up your sleeves” professional who is eager to distinguish him/herself in building an investment advisory business. He or she will have at least seven years of sales experience and will have a strong understanding of the broad range of investment products. He or she will be a wealth management professional whose approach inspires confidence as a trusted advisor. Other important qualifications include:

  • Proven ability to effectively market and sell investment products and services.
  • A sound knowledge base of the elements of trust and estates, tax considerations, financial planning, alternative investments and other skills relevant to being a “Wealth Advisor” to high net worth clients and prospects.
  • Experience with an open architecture platform for investing.
  • A self-confident, proactive professional with the maturity necessary to work autonomously and with people of all levels in the organization.
  • Excellent communication and presentation skills, both written and verbal.
  • A professional of unquestionable integrity, credibility and character who demonstrates high moral and ethical behavior

We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic. 

 

If you are curious to learn more about this opportunity, we'd love to hear from you.

 

Job Demands:

  • Must be able to review and analyze data reports and manuals; must be computer proficient.
  • Must be able to communicate effectively via telephone and in person.
  • Must be able to travel as position requires.

Own your work and your career — apply now
Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us.

 

We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability — that’s the First Republic way.

 

This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.

 

First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.

 

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