Associate Wealth Management Advisor

Northwestern Mutual - Greater Chicago•Lombard, IL

About The Position

The Associate Wealth Management Advisor (AWMA) role requires contracting with the Northwestern Mutual Wealth Management Company (NMWMC) and completing necessary registration requirements. This position is employed by a NMWMC Advisor and involves an Associate Financial Representative Contract. Financial representatives are responsible for ensuring their staff is qualified and trained for assigned tasks. The AWMA, with appropriate licensing and qualifications, may prospect, prepare materials, and service Signature advisory accounts on behalf of the employing wealth management advisor, but cannot enter into an advisory relationship with a client. Specific duties may overlap with the Associate Financial Representative (Registered) role and include case management, scheduling, client communication, compliance monitoring, proposal preparation, account processing, and client service.

Requirements

Associate Financial Representative contract required
Completion of home office Signature advisory training
Familiarity with Microsoft applications and data entry and information retrieval software
Excellent oral and written communication skills
Strong critical thinking and problem-solving skills required
Ability to manage multiple diverse projects and assignments in a timely and quality manner
Strong attention to detail with the ability to work with a high degree of accuracy
Demonstrated ability to maintain effective working relationships with clients
Ability to look beyond the obvious and not stop at the first answers
Willingness to learn
Ability to embrace change and work in a fast-paced environment
Able to work both independently and in a team
Ability to maintain confidentiality

Responsibilities

Handle case notes, processing correspondence, maintaining client case files and filing performance reports, account forms and other advisory paperwork
Maintaining financial representative’s calendar, scheduling and attending follow-up appointments
Responding to home office account inquiries
Maintaining annual review notes in Envestnet and mailing annual review letters to clients
Monitoring and stocking marketing materials for Signature advisory programs
Monitoring industry trends and research
Ensuring NMIS and NMWMC compliance requirements are implemented and followed
Prospecting on behalf of the employing WMA for new advisory clients
Gathering information for WMA meetings with client/prospect
Preparing advisory annual review information
Preparing and modifying PXs and investment/advisory proposals
Preparing letter of instruction for client signature
Preparing investment policy statement, needs-based analysis or financial plan
Recommending fund portfolio options
Preparing and processing all paperwork needed for investment/advisory accounts
Monitoring, processing and following up on asset transfers and on initial and subsequent funding of advisory accounts
Implementing initial and subsequent asset allocation trades
Identifying need for switch letter and mailing appropriate forms to clients
Discussing potential rollover opportunities from other retirement plans for variable and mutual funds
Processing proposal amendments, monitoring alerts and annual reviews in Envestnet
Executing buy or sell orders and rebalancing orders in Envestnet and maintaining asset allocation
Following up on trade rejects and resolving all trade-related issues
Monitoring holdings for program eligibility and administering advisory accounts
Corresponding with clients to handle advisory related service issues
Contacting clients on behalf of the WMA for developing advisory plan
Accepting redemptions/withdrawals from clients and communicating instructions to home office
Maintaining daily tickler system for account follow-ups and service requirements
Performing cashiering functions
Running performance reports in Envestnet, Morningstar and NMCIR