Title: PRIVATE CLIENT ADVISOR - San Diego
Location: CALIFORNIA-SAN DIEGO
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $84 billion at September 30, 2011. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operated 404 full-service branches in California, Washington, Oregon and Texas, as well as two international offices, on September 30, 2011. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world's largest financial organizations. Visitwww.unionbank.comfor more information.
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Job Summary:
Superior record of new business development across the wealth management product spectrum.
Proven leadership capabilities.
Demonstrated superior knowledge and implementation of the bank's branded sales process.
Ability to manage the most complex high-profitability client relationships.
Possessing thorough knowledge of Private Bank products (Wealth Planning, Investments, Insurance, Trust, Loans, Deposits) and policies.
Responsible for managing a portfolio of clients with a minimum of $2.5 MM to $3 MM in annual profitability to the bank and 75-125 client relationships.
Reporting to a Wealth Market Executive, the Private Client Advisor is responsible for the overall growth and ongoing management of a portfolio of high net worth clients.
Drives the Private Bank sales process for investments, private banking, trust & estates and insurance by identifying qualified potential clients and leveraging wealth planning.
Initiates contacts, assesses needs, presents array of products and services, and closes sales.
Responsible for the growth and profitability of large, complex relationships as well as the ongoing management and total servicing of the client relationship.
In close collaboration with the Private Bank Team, proactively advises and consults with clients to maximize their usage of all Private Bank capabilities and monitors client portfolio to ensure profitability and deliver a positive client experience.
Major Responsibilities:
60% Business Development- Identify clients for The Private Bank through research and use of resources, including referrals from outside the Bank, existing clients, commercial/retail partners, and other Private Bank partners. Proactively advises and consults with existing clients to maximize their service usage and monitors client portfolio to ensure profitability.Meet with prospects as needed, often outside the office to present the capabilities of The Private Bank. Drives the Private Bank sales process across the wealth management spectrum including wealth planning, investments, private banking, trust & estate services and Insurance to proactively identify the needs of the prospects, matching appropriate products and services and ensuring a team delivery approach by including appropriate specialists within the Private Bank.
Act as advisor by anticipating needs relative to the high net worth segment to ensure maximum profitability and cross-sell opportunities are met by monitoring each client's account and service use as well as changes in their Life. Consult with clients as to various services or product that would be most advantageous for them and keep them aware of new strategies and market trends that would affect them. Provide various options considering tax implications, estate planning, risk tolerance levels and introductions to the appropriate Private Bank team member to maximize multiple team touch points per client and greater client satisfaction.Thoughtfully plan the introduction of clients to other areas of the Bank for special needs.
20% Teaming- Detail specific actions to introduce Private Bank team members to prospects by embracing, leveraging and leading the team through the Private Bank sales process. Acts as the "quarterback" for the Private Bank team to ensure both new sales and client retention goals are achieved. NOTE: greater time will be devoted to "teaming" during early development of their books of business.
20% Service- Ensure proper handling of service programs and respond to problems clients may experience with the handling of their accounts by pro-actively communicating with clients and coordinating the efforts of the internal team.Demonstrates knowledge of and is sensitive to the current regulatory environment; adheres to the Bank's Risk Vision, and risk management policies and programs; recognizes and proactively addresses risk (including but not limited to those associated with Bank Secrecy Act, anti-money laundering, consumer compliance, fair lending, fiduciary responsibilities, and privacy); identifies and appropriately manages risks.
Additional Information:
Experience in a team based partnering oriented model with individual accountability, with a track record of successful sales. Strong negotiating skills and client facing presence. Ability to engage clients in their investments strategy to obtain a "win" opportunity. Ability to identify client needs and related bank services; sells the concept of relationship banking. Ability to prospect, anticipate needs and close sales. Communicate effectively with clients of varying levels of business or financial sophistication. Ability to work with other teams and as a team member. College degree required with an expected exceptional level of professional experience and training. Series 7, 66, (63& 65) and Life and Health Licensed. Certified Financial Planner strongly preferred; MBA or CFA beneficial. Proficient knowledge of computer skills.
This position may be subject to SAFE Act Registration Requirements. Pursuant to the SAFE Act requirements, all applicants for employment who will be engaged in residential loan mortgage originations (as defined by the SAFE Act) must register with the federal registry system and maintain a status in good standing under the SAFE Act requirements. If at any time the Bank determines that your position requires SAFE Act registration, you will be required to register and to submit to the required SAFE Act background check and registration process. Failure to register successfully or to maintain a status in good standing under the SAFE Act will affect your eligibility for continued employment and may result in your immediate termination.
Union Bank is committed to leveraging the diverse backgrounds, perspectives, and experiences of our workforce to create opportunities for our people and our business. EOE. M/F/D/V
