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NFP Wealth Management Associate, Asset Management in New York, New York

Wealth Management Associate, Asset Management

New York, NY US

Apply Now (https://www.applytracking.com/tp/rj6_f45T-y_K)

Who We Are:

Lenox Advisors provides comprehensive financial planning and wealth management solutions to high net worth individuals and their families. We are professional fiduciaries with an entrepreneurial spirit. For our professionals, that means keeping our clients at the center of everything we do while also maintaining a collegial and collaborative environment in which everyone can contribute, develop relationships and further build their business. We have an immediate opportunity for an Asset Management Associate in our Private Wealth Management business. The position is based in our New York City office.

The Role:

The Asset Management Associate (AMA) role serves as the primary point of operational execution and success for the Lenox Asset Management department. Based on a team approach, AMAs’ daily duties include liaising with a variety of internal and external parties, and must maintain the highest level of organization and communication skills. Lenox Relationship Managers (Financial Advisors), Lenox Asset Management’s Sales Team (Asset Managers), and end-clients all rely on the AMA role to assist with new and existing business across managed portfolios, fixed annuities and variable annuities.

Essential Job Duties:

  • Assist new clients through the new relationship onboarding process. Understand what paperwork is needed for every new account by investment and account type when a new account request is made. Communicate with clients, Relationship Managers, Asset Managers, Vendors, and MMLISI (broker-dealer) during the new account onboarding process.

  • Acts as liaison between Asset Managers and other business partners and subsidiaries to ensure that high quality and comprehensive client service is provided to our clients in accordance with defined parameters. Client service includes client calls, transaction processing and the accurate recording in our proprietary CRM (Mosaic), inquiry response/research and account maintenance.

  • Be able to quickly identify complex requests regarding investment accounts, contributions and distributions, policies and procedures, and promptly escalate to Lenox Asset Management Leadership when necessary.

  • Manage all additional deposits and withdrawals from clients’ existing accounts through submission, tracking, and communicating with Clients, Relationship Managers, Asset Managers, and Vendors. Inclusive of expediting all wire transfers, distributions, withdrawals, ACAT’s, portfolio rebalancing, and redemption requests.

  • Generate client proposals with the direction of Relationship Managers and/or Asset Managers.

  • Foster a developing understanding of the various investment programs available through Lenox Asset Management and provide assistance in regularly updating internal marketing platforms (Lenox Intranet) with timely marketing materials.

  • Directly support VP, Operations Manager in the completion of special projects as required.

  • Develop relationships with Lenox vendors in order to facilitate the maintenance of clients’ accounts.

  • Practice consistent usage of Lenox’s proprietary CRM (MOSAIC) and other critical platforms and develop a functional understanding of how these systems interact with one another.

  • Serve as an operational resource to Relationship Managers directly conducting Asset Management business without the assisted involvement of an Asset Manager.

  • Become proficient in evolving broker-dealer technology as pertains to new account onboarding and reporting. AMAs are accountable for maintaining best-of-breed knowledge on system functionality within various technology platforms. Current responsibilities include Lenox’s proprietary CRM (Mosaic), A360, ProGen, WealthScape, Envestnet, Tamarac, RightBridge, Broadridge and DST Vision.

  • Become proficient in evolving custodian technology inclusive of Charles Schwab, Fidelity, National Financial Services (NFS), and more.

Knowledge, Skills & Abilities:

Knowledge

  • Foundational understanding of equity and bond markets, estate-planning documents, and Federal/State regulations pertaining to securities transactions. Knowledge required prior to hire.

  • MOSAIC: Basic skills such as tasking, arrays and overall task-management. More advanced skills such as Net Flow Reporting and AUM analyses. Knowledge required within 2 months of hire.

Skills/Abilities

  • Maintaining positive working relationships with Clients, Relationship Managers and Asset Managers.

  • Learns systems & job procedures quickly and creates a way to organize workload efficiently and effectively handle job responsibilities.

  • Anticipates possible problems and develops contingency plans in advance and quickly identifies the central or underlying issues in a complex situation.

Behaviors/Attitudes

  • Proactive; Self-Starter with the ability to think on their feet.

  • Views problems as opportunities to improve processes and make things better.

  • Has a strong sense of urgency about solving problems and getting work done and genuinely cares about delivering a positive service experience.

Education and Experience:

  • Bachelor's degree

  • 1-3 years prior investment/client relationship/sales experience

  • Familiar with sophisticated investment solutions specifically designed for high net worth individuals and be proficient in the development of asset allocation strategies

  • Series 7 and 66 licenses preferred

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