Vice President, Family Office Relationship Manager
Job Description:
The Role
The Client Relationships Group (CRG) is a division of Fidelity Institutional Wealth Management Services and is a leading provider of clearing and custody to registered investment advisors (RIAs), family offices, retirement recordkeepers, broker-dealer firms, banks and insurance companies. You will be part of a business that offers clients access to a comprehensive set of products and services, innovative investment tools and research, an integrated brokerage and trust platform, and dedicated client service professionals - all designed to help our clients thrive. This role would specifically be in support of the Family Office Relationship Management team.
Vice President Relationship Manager (RM) is entrusted to work with and develop key relationships with some of the largest and most complex Single-Family Offices (SFOs) and Wealthy Families (WFs) in the country.
Expertise and Skills You Bring
- Bachelor’s degree required. MBA preferred.
- 15+ years of financial services, proven experience with SFO/WF/RIA industry expertise a must.
- 15+ years of direct client and/or financial services experience in a Sales and/or Relationship Management function.
- Deep understanding of the organizational structure of an SFO/WF/RIA – including service, technology, investment and back-office operations.
- Experience in wealth management and/or investment management.
- Series 7 and 63 licenses required.
- Proven track record in building and handling relationships with demanding and complex clients, including with the highest level of decision makers.
- Ability to set a strategic direction for clients which demonstrates ultimate ownership and accountability for the relationship.
- Proven ability to be successful with clients and prospects in face-to-face meetings, virtual, phone based and/or email interactions.
- Financial business analysis and/or consulting experience.
- Experience with meeting the evolving needs of large family offices and the Ultra High Net Worth families that they serve.
- Institutional brokerage operations experience.
- Strong communication and listening skills, with ability to influence and proactively create client interactions.
- Strong at multi-tasking, project management with utmost attention to detail.
- Ability to identify and handle at risk situations and escalate where appropriate.
- Interest in and an understanding of financial markets. Solid knowledge of both traditional and alternative asset classes.
- Comfortable working independently including decision making.
- Travel is required (35% on average) – most clients regionalized, but some national travel.
- Ability to meet in-office requirements of the role / business unit.
- Demonstrate the highest levels of engagement with the team and dedication to service.
- Provide overall client accountability and book management of a sophisticated portfolio of clients.
- Develop key strategic relationships with the principal decision makers of each client relationship.
- Provide proactive consultations to senior individuals within each relationship by clearly prioritizing a strategic plan and objectives. Develop true partnerships by helping clients successfully lead and build their business while improving the business relationship.
- Conduct comprehensive quarterly and/or annual relationship reviews. Fully understand and develop solutions for client needs by partnering with client service managers on resolutions for issues.
- Stay knowledgeable of changes and trends in the marketplace acquired from clients, activities and industry research. Be an active contributor to our collective intelligence to better serve our clients and make recommendations for product/service improvements.
- Grow assets under administration (AUA) and find opportunities to convert to assets under management (AUM) by working closely with sales and the investment teams. Work closely with the investment team to ensure execution of investment and product solutions.
- Partner closely with specialists to accurately identify, plan, influence, and implement Fidelity solutions.
- Establish and demonstrate value and differentiation from our competitors.
- Responsible for documenting client activities, business opportunities, business risks, and all communications with clients in the CRM on a timely basis.
- Partner with Sales to develop referrals from existing client relationships.
Note: Fidelity is not providing immigration sponsorship for this position
The Team
There is alignment of Fidelity’s success with its client’s success. The VP of Relationship Management plays a critical role in helping clients execute upon their business strategies to grow their business and operate in a more efficient and scalable manner. Asset and revenue growth is also of strategic importance in the Family Office segment, so the ability to uncover and help capture opportunity is a critical aspect of this role.
The base salary range for this position is $120,000 - $200,000 per year.Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.