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About the Role
This role serves as a specialized resource for Advisor teams, addressing the trust, estate/wealth transfer, and financial planning needs of high- and ultra-high net worth clients. It involves building relationships, performing technical analyses, and developing planning strategies with a focus on the bank's implementation capabilities.
Responsibilities
- Leads the wealth planning engagement process with clients from start to finish.
- Works with Wealth Strategy Specialists and/or Wealth Strategy Analysts to gather information, run analyses, and develop planning solutions.
- Develops holistic, integrated planning strategies, focusing on Bank of America's implementation capabilities.
- Expands existing client relationships and assists Advisors in new business opportunities with high- or ultra-high net worth clients and prospects.
- Demonstrates advanced technical knowledge across trust and estate planning, income and wealth transfer tax planning, investments, retirement planning, cash flow modeling, sale of business entities, and philanthropic planning.
- Stays up-to-date with major developments in trust, estate/wealth transfer and financial planning, and understands the impact of current and proposed tax legislation on clients.
- Builds a network with local centers of influence to create a business referral network.
Requirements
- Ability to gain client's respect and trust by listening to their goals and building effective strategies.
- Advanced understanding of income taxation, stock options, insurance, investments, cash flow modeling, business entities, and business transitions.
- Advanced understanding of the transfer tax system and core tax savings strategies (e.g., irrevocable trusts, SIDGTs, GST trusts).
- Advanced understanding of charitable and non-charitable split interest trusts (CRTs, CLTS, GRATs, QPRTs).
- Proficiency in Word, Excel, and PowerPoint.
- Experience with various Wealth Strategy stochastic models and planning software such as WealthMaster.
Skills
- Critical Thinking
- Oral Communications
- Presentation Skills
- Wealth Planning
- Written Communications
- Active Listening
- Business Development
- Collaboration
- Customer and Client Focus
- Networking
- Issue Management
- Prioritization
Work Type
- 1st shift (United States of America)
- 40 Hours Per Week
Experience Level
- Minimum 7 years of planning-related work experience desired
Education Level
- High School Diploma / GED / Secondary School or equivalent
- JD, CPA, or CFP desired
- LLM, MST, MBA (or in progress) a plus
Benefits
- Competitive benefits to support physical, emotional, and financial well-being.
About the Company
- Bank of America is guided by a common purpose to help make financial lives better through the power of every connection.
- Responsible Growth is how the company runs and delivers for clients, teammates, communities, and shareholders.
- Bank of America is devoted to being a diverse and inclusive workplace for everyone.
- The company hires individuals with a broad range of backgrounds and experiences.
- Bank of America believes in the importance of working together and offering flexibility.
- Working at Bank of America offers career opportunities to learn, grow, and make an impact.
Equal Opportunity
- Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure.