Wealth Management Specialist - Business Manager

Bank of America•Chicago, IL

4d•$29 - $45•Hybrid

About The Position

Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Wealth Management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance. Merrill’s Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. We believe trust comes from transparency. Our trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America. Merrill is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Merrill, we empower you to bring your whole self to work. We value the unique perspectives in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different skills and experiences that individuals bring from all backgrounds and careers; whether gained through military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. This EGP Trainee is a training program to develop and prepare candidates to further develop and service the FA Teams client base. The Trainee role allows EGP Specialist to become fully license and require the appropriate designations before taking on the full EGP Specialist role. This position operates in a marketing and sales development role by implementing and executing the Elite Growth Practice. Specific accountabilities for the role may vary depending on the teams practice. Performance is measured by the FA or FA team through specific goals, metrics, and behaviors related to the execution of the EGP model. The Business Manager role is a key contributor to a Financial Advisor team in creating strategy and ensuring execution related to multiple metrics and priorities across the teams business plan and goal deliverables. Helps manage the teams business plan and practice financials. Tracks progress with quantifiable business and activity goals and ensures team daily activities aligns with practice metrics, goals and objectives. Coordinates team assignments, projects and key initiatives, and ensures execution of teams client service strategy. Requires a thorough knowledge of the Merrill Lynch Wealth Management business functional area and products. Requires a working knowledge of general bank policies, programs and procedures and financial/accounting practices. This role is an FA Paid Resource. This position may be responsible for the provision of residential mortgage loans, and as such, is subject to SAFE Act registration requirements. Pursuant to the SAFE Act requirements, all employees engaged in residential mortgage loan originations must register with the federal registry system and remain in good standing. Since this position requires SAFE Act registration, employees are required to register and to submit to the required SAFE Act background check. Failure to obtain and/or maintain SAFE Act registration may result in disciplinary action up to and including termination. Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy.

Requirements

Either Series 7 and 66 licenses or Series 7, 63 and 65 licenses; must obtain all state registrations held by the Financial Advisor(s) and Advisor Team(s) they support.
If Series 7, 63/65 or 66 or equivalent are not currently held, must be obtained within a specified timeframe to be eligible for Specialist position.
Strong leadership abilities, communication and delegation skills
Understanding of how to deliver a strong overall client experience
Thorough knowledge and understanding of the suite of Wealth Management products and services
Proven ability to manage risk and make sound decisions by having a deep understanding of industry regulations, supervisory requirements and policies/procedures
Strong analytical skills with ability to identify trends, root cause and effects and implement improved processes to increase growth and mitigate risk
Ability to influence and demonstrate strong and effective leadership through clear communication and collaboration with other partners to make sound decisions with courage and conviction; demonstrated ability to influence to the desired outcome, without direct authority.

Nice To Haves

Administrative Services
Customer Experience Improvement
Project Management
Sales Performance Management
Strategy Planning and Development
Business Acumen
Business Analytics
Candidate Screening
Coaching
Continuous Improvement
Account Management
Process Simplification
Reporting

Responsibilities

Develop and service client segments and the next generation and their next generations and beneficiaries.
Gather additional assets from existing client base and deepen relationships by partnering with all Merrill partners to deliver a full breadth solutions.
Coordinate technological support through the development of portfolio analysis, proposals and direct mail campaigns utilizing Salesforce and other tools and resources.
Provide technical expertise in certain product areas (e.g. Corporate 401(k), Rule 144, Insurance, Wealth Management Workstation)
Provide marketing and organizational support.
Role is designed to allow employees to study and obtain all required registrations.
This position may be responsible for the provision of residential mortgage loans, and as such, is subject to SAFE Act registration requirements.
Partner with Financial Advisors (FAs) and advisory teams to develop, implement, and execute the team’s business plan, ensuring alignment with growth objectives and firm priorities.
Translate strategic goals into actionable initiatives, timelines, and performance metrics.
Monitor business performance across key indicators (revenue growth, asset flows, client acquisition, etc.) and adjust strategies to drive results.
Manage and track practice financials, including revenue, expenses, profitability, and budgeting processes.
Provide insights and report to FAs on business performance, trends, and opportunities for growth or efficiency
Support resource allocation and capacity planning to optimize team productivity.
Establish and maintain quantifiable business and activity goals aligned with firm and team objectives.
Analyze data to identify trends, root causes, and business opportunities.
Develop reporting dashboards and cadence of reviews to ensure accountability and progress tracking.
Oversee execution of the team’s client service model and experience strategy.
Ensure consistent delivery of a high-quality, personalized client experience across all touchpoints.
Identify opportunities to enhance client engagement, retention, and satisfaction.
Coordinate team assignments, workflow, and key initiatives to ensure efficient execution
Act as a central point of organization for projects, ensuring timely delivery and cross-functional alignment
Provide leadership support through delegation, communication, and prioritization of team activities
Maintain deep knowledge of wealth management products, services, and platforms, including investments, banking, lending, and mortgage solutions
Support FAs and clients with appropriate product positioning and solutions alignment
Act as a subject matter resource on firm offerings and capabilities
Ensure adherence to regulatory requirements, firm policies, and supervisory procedures
Proactively identify and mitigate operational, compliance, and business risks
Support SAFE Act requirements and maintain required registrations and licensing standards
Collaborate with internal partners (e.g., banking, lending, operations, compliance, marketing) to deliver integrated client solutions
Influence outcomes and drive decisions without direct authority, using strong communication and relationship management skills.