The WM Financial Planning Officer is responsible for the development of long-term financial plans for clients while recommending financial products and services to support the requirements of the financial plan and the needs of the customer. The Officer will also provide Wealth Management services to clients of the Bank in conjunction with the entire Wealth Management Team. They will perform business development activities and be responsible for the administration of trust accounts, investment management, employee benefit and IRA accounts.
Maintain a thorough understanding of the client’s financial situation and lead clients through the financial planning process by gathering significant and pertinent data as it relates to the clients entire financial life.
Utilize financial planning software, as well as Excel, PowerPoint, and cash flow analysis programs, in order to provide analysis for clients of their current and future financial picture.
Develop financial plans for clients and prepare product illustrations and proposals as needed for client meetings. Recommend products and services which support the long term planning needs and goals of the client.
Review planning deliverables with the client and maintain a comprehensive list of financial planning action items for follow up and resolution.
Business Development & Client Presentations
Work with the Future Track Program Manager to brand the Wealth Management financial planning product as part of the Future Track program. Complete new financial plans from referrals from the Future Track initiative.
Perform business development activities as required in conjunction with other team members. Provide materials for client presentations in conjunction with the Investment Officers assigned to the accounts.
Lead and/or participate in business development through personal contacts in the professional community
Upgrade account relationships and encourage additions to existing accounts where appropriate.
Develop retention strategy for existing relationships.
Trust and Account Administration
Act as the primary advisor for an assigned client base. Responsible for maintaining account relationships, managing all of the administrative and fiduciary functions in each of the accounts assigned pursuant to applicable laws, regulations, policies, procedures and in accordance with trust and account documents for designated relationships.
Advise clients in fiduciary administration, financial, tax and estate planning. Act as the primary liaison with the client’s accountant, attorney and other advisors and create a strong relationship as a team to ensure a comprehensive wealth management plan.
Provide quality service and communicate with clients; schedule and attend client meetings.
Resolve client issues promptly, incorporating appropriate council – legal and /or accounting as necessary.
Review Trust documents and provide a summary of Trust powers and potential items of concern. Work with Trust staff regarding calculation of distributions for Trusts, IRA’s, and Not for Profit clients. Process discretionary distribution requests for trust relationships and submit to discretionary subcommittee when applicable.
Perform administrative account reviews for all designated accounts on an annual basis.
Review client and Bank documentation for compliance, consistency and appropriate execution. Take corrective action and obtain additional documentation as necessary.
Participate as an active member in the Trust Administrative Committee (TAC) and Trust Investment Committee (TIC).
To be considered you must be a Certified Financial Planner (CFP) or in the process of obtaining your certification.
Charter Financial Analyst (CFA)/ Chartered Financial Consultant (ChFC)/ Certified Trust Financial Advisor (CTFA) , or candidates in the process of obtaining certification are preferred
About Union Savings bank
Union Savings Bank has been serving the local area since 1866. And since its inception, our mission has been to work for the benefit of the community rather than for the benefit of shareholders.
As a Connecticut community bank, we live here, work here, and play here. This is our home, and we give back every chance we get, in any way we can.
And in helping to build a better community, we have found it’s helped us to build a better bank; dedicated in purpose and focused in efforts to deliver better products and services for our customers – all while re-investing into the community with grants and service.