Wealth Management Consultant, Wealth Management Partnerships - Hamilton

Scotiabank•Hamilton, ON

20h•Onsite

About The Position

The Wealth Management Consultant (WMC) serves as the primary point of contact for referrals from Retail Banking into Scotia Wealth Management (SWM). The role actively pursues wealth management opportunities among existing bank customers who are not already clients of SWM, focusing on the High Net Worth and Ultra-High Net Worth segments. The WMC must possess a comprehensive understanding of SWM's offerings, including Investment Management, Private Banking, Will & Estate Planning, Protection, and Philanthropic services. The WMC targets existing bank clients identified as High Net Worth, typically defined as having investable assets of $1,000,000 or more, though clients with over $500,000 in investable assets may be considered if their needs are complex. The role involves educating Retail Bank partners, identifying opportunities, and acting as the single point of contact for referrals into SWM. This includes building relationships within Retail Branches, consulting on client opportunities, and coaching branch staff on wealth offerings. The WMC also plays a key role in facilitating a seamless transition for High Net Worth clients from the Retail Bank to the appropriate Lead Relationship Manager within SWM, ensuring an exceptional client experience throughout the onboarding process.

Requirements

Superior relationship building skills
Sales-driven mindset and ability to coach peers to identify, pursue and refer new business opportunities
Strong presentation skills (including use of technology), ability to think and respond quickly, and able to adapt to change within a rapidly growing and complex area of personal financial services
An in-depth understanding of affluent client’s financial service needs from wealth accumulation through preservation
An ability to build and sell the “Enriched Thinking” value proposition and Total Wealth Solutions
A good knowledge and understanding of multi-need financial planning
Knowledge of Personal Trust services such as Wills, Estate Planning, Executor and Trustee Services, Trusts and Agency Services including Off-Shore Trusts
Strong knowledge and understanding of investment and credit products and services
Knowledge of Wealth Management industry, our competitors and their products and services, including market/customer segmentations and trends
A proven track record in providing client-centric wealth solutions to an affluent client base, both internal and external

Responsibilities

Attract referrals by educating Retail Bank partners, opportunity spotting with these partners and serving as the single point of contact for referrals from Canadian Banking into Scotia Wealth Management.
Build extensive networks of relationships in the Retail Branches.
Act as the key field resource for the Retail Branch, consulting on SWM client opportunities/identification and jointly reviewing client lists to identify existing customers as prospective SWM clients.
Work closely with the Financial Advisor, Small Business Advisor and Branch Manager in all assigned branches with education and coaching on wealth offering and value proposition via skill builds and one-on-one coaching.
Share success stories within the District and ensure that Branch partners understand the SWM value proposition.
Jointly with retail partners, organize and deliver SWM client seminars and presentations, with representation from SWM partners in Private Investment Counsel, Scotia McLeod, Private Banking and Scotiatrust.
Provide education on SWM offerings/value prop to retail bankers.
Provide timely communication on the status of all referred clients and ensure recognition is provided to referral partners on all SWM closed business results.
Take responsibility for branch referral volumes from assigned retail branches into SWM and associated client satisfaction.
Provide consistent coverage for District area Branches and contribute to the District’s sales goals and objectives through effective liaison with other Bank partners (IS, HFA, IFC), SWM partners and the WMBD National Office.
Enhance the client experience with fast and effective teaming by facilitating a seamless transition of the HNW’s client relationship from the Retail Bank to the Lead Relationship Manager within SWM.
Conduct an initial assessment of the client’s situation with the Retail partner and/or meeting with clients who have complex needs.
Follow the defined process and make recommendations, through discussions with the Client Solutions Market Director or National Office, to determine the LRM (i.e. Portfolio Manager, Private Banker, Trust Officer, Wealth Advisor, etc.) within SWM that is the best fit for the client.
Facilitate the introduction of the LRM to the client and coordinate a session with the appropriate Scotia Wealth Management specialists to address the pertinent areas identified during the initial client needs assessment.
Continue engagement with LRM and in order to maintain ongoing communication with the Retail partner to ensure engagement/informing through the client onboarding process.
Ensure an exceptional client experience from client needs assessment with Retail partner to the introduction and immediate transition of the relationship of the LRM, promoting the “Enriched Thinking” value proposition and addressing the holistic total wealth offering.
Contribute to the effective functioning of the Scotia Wealth Management team by building effective working relationships across the team and with various business line and corporate function contacts.
Participate actively in team learning development activities.
Maintain a high level of customer service, including alignment to the Customer Experience Model.
Facilitate a culture of open and honest communication.
Actively participate and contribute to touch bases and team meetings.
Encourage the generation of new ideas and approaches.
Actively share knowledge and experience to enhance the development of all team members.