Principal Wealth Manager, Bethesda
Location
Bethesda, MD | United States
Job description
About Savvy
Wealth management is a massive industry in the US ($545 billion annual revenue) but remains an archaic and inefficient industry with low technology penetration. 75% of wealth managers do not offer any digital communication beyond emails and 62% of them conduct financial planning manually (for example, in Excel). This results in a poor client experience and a low ceiling on the number of clients a wealth manager can support.
Savvy is a technology driven wealth management firm with an emphasis on building software to drive automation and efficiency for wealth managers so they can focus on what truly matters quality time with clients. We are able to grow rapidly by hiring/acquiring wealth managers with existing books of business and supercharging them with our software to make them dramatically more efficient and provide a better digital experience for them and their clients.
We are a team of former founders and operators who have started and sold two companies and bring over two decades of experience from Brex, Facebook, Airbnb, Uber, DoorDash, and Square.
We are backed by top-tier VC firms, including Index Ventures and Thrive Capital, and a panel of A-list executives from the wealth management industry.
The Role
The Principal Wealth Manager role at Savvy is a critical role that will be foundational in shaping how the future of the wealth management industry looks from a fintech lens. In this high-impact role, you will operate in a very dynamic environment as an active wealth manager with clients where you will be responsible for developing and managing high net worth client relationships and portfolios as well as cultivating sources of qualified high net worth prospective clients. You will also work closely with the Product Development and M&A teams to shape the future roadmap of Savvys advisor technology platform, vet and convince other top wealth managers to join Savvy, and train new staff.
What You'll Do
- Develop new client relationships and support Business Development efforts.
- Gather client data, both quantitative and qualitative, and work with clients in understanding and defining their financial planning and investment needs and objectives.
- Review and analyze a clients current financial situation and be able to advise on investment strategy, tax planning, retirement planning, estate planning, stock options, charitable giving strategies, insurance and risk management, and more.
- Identify potential issues the client may have, explain financial planning concepts, clarify client goals, and prepare financial plans.
- Design long-term investment strategy and appropriate asset allocation with clients, as well as implement and monitor investment portfolios and asset allocations.
- Work with third-party service providers across tax, trust & estate, and insurance specialties and guide clients on leveraging each third-party effectively and at the right time.
- Advise the Product Development team on your or your clients pain points in effectively getting things done in order to build the best technology platform tailored to your needs.
- Support the Growth team in Business Development efforts when sourcing, pitching, and closing other prospective advisors on joining the Savvy platform.
What We're Seeking
Must Have
- 10+ years of investment advisory experience
- An existing client book of business that you actively advise today
- Certified to work as an Investment Adviser Representative (Series 65, Series 7 + 66, or equivalent)
- Excited by more ownership and the opportunity to have a meaningful impact
- Excited to work in the Fintech industry
- Thrive in a demanding, fast-paced environment while handling several deadlines simultaneously
Nice to have
- Past professional experience at a technology company
- BS or MS in an analytical or technical degree
- Experience working with clients whose assets are in excess of $1 million
- Depth of knowledge in at least one key area of financial planning
- Experience working with financial planning software
- Excellent organizational, analytical, critical thinking, communication and social skills, a proactive approach to problem solving, and take immediate ownership of your work allowing you to think big, adapt quickly, and act fast
Benefits We Provide
- Access to best in class medical, dental, and vision plans
- Unlimited PTO + paid company holidays
- Solo 401(k)
- NYC office with breathtaking views in the heart of Manhattan
- Competitive total compensation package comprised of Revenue Participation and Equity
- Lunch, dinner, and snacks provided in the office
- Access to Teledoc ($0/visit telemedicine, 24/7 availability, family included)
- Discounts on Alternative Medicine, Chiropractic, Fertility Advocacy, Pet care, Prescriptions, Lab Testing, and Diabetic Supplies
- Access to Health Advocate (Answers questions about plans, claims, and bills, Coordinates care, Books appointments, Family included)
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