Virtual Financial Advisor

Job Description Summary

Manage relationships with accounts in order to maximize account profitability and expand revenue.

Job Description

Job Summary

Investment Central, a specialized department at the Raymond James home office, provides exceptional service to Raymond James’ clients. Although we operate as a home office department, our approach mirrors that of most Raymond James branches.

Under limited supervision, uses specialized knowledge and skills obtained through experience, specialized training, or certification to provide all levels of financial services in a team environment to clients of the company by combining the traditional roles of the Financial Advisor and Service Associate. The ideal candidate will have a passion for providing excellent customer experience to our annuity contract owners and financial advisors of the firm. The person in this position must understand all aspects of variable annuity products and have the ability to communicate post-issue product details across the organization. This associate is also responsible for coordinating and communicating with carriers on various variable annuity requests as necessary. Fosters and assists in the development of relationships with new clients in a call center environment. Assists clients over the phone on a non-advisory basis by executing unsolicited orders and offering guidance in relation to other associated sales practice activities and requirements. Guidance is provided to perform varied work that is somewhat difficult in character, requiring some evaluation, originality, and ingenuity to make moderately complex decisions.

Essential Duties and Responsibilities

• Perform review of annuity applications and requirements.

• Perform timely entry of initial applications.

• Keep abreast of product changes and deadlines.

• Communicates with insurance companies regarding submitted business or issues.

• Coaches and mentors less experienced Investment Central associates.

• Works in cohesion with other Virtual Financial Advisors to oversee over $3 billion in client assets to ensure proper fiduciary processes and procedures are integrated and aligned with business practices to mitigate risk to the business.

• Provides escalated support and guidance in dealing with client portfolios and various customer queries.

• Informs appropriate management about issues with client accounts that may involve or expose the business to potential liability.

• Assists management to implement adequate controls and quality assurance processes to address potential liability.

• Keeps abreast and maintains working knowledge of current Capital market news and how that can impact our client accounts.

• Researches, interprets and translates investments within portfolios and educates clients based on proper asset allocation and modern portfolio theory.

• Addresses sensitive client issues surrounding AML or other Supervisory alerts generated by the firm.

• Understanding complex business models and constantly evolving practices.

• Assists clients, branches, advisors, and back-office operations with general questions on all aspects of our business and intertwined departments.

• Assists in sales practices, oversight of the account opening process, the execution of client unsolicited orders, and offering guidance/supervision in relation to other associated sales practice activities and requirements.

• Manages, reviews, and approves all clients’ activity. Educates and guides our clients regarding services and products offered.

• Establishes and manages client brokerage accounts while maintaining complete client information in accordance with internal and external regulations.

• Contact clients to review portfolios, complete the Investment Policy Questionnaire, and provide information on investments and make suitable recommendations.

• Work to acquire additional assets that the client may have held away from the firm.

• Places various trades, including large volume trades, while performing due diligence and mitigating risk to the business.

• Ensures firm and regulatory policies are followed within compliance standards.

• Performs other duties and responsibilities as assigned.

Qualifications

Knowledge of

• Post issue product details spanning various annuity products.

• Riders, living benefits, death benefits, surrender charges, and 1035 exchanges.

• Concepts, practices, and procedures of the securities and banking industry.

• Fundamental investment concepts, practices, and procedures used in the securities industry.

• Principles of banking and finance and securities industry operations.

• Financial markets and products including annuities, UITs, structured products, alternative investments, mutual funds, and stocks.

Skill in

• Communicating detailed information provided by the insurance company to clients with status and course of action.

• Relaying information to insurance carriers to help ensure best practices.

• Identifying potential issues related to annuity processing.

• Organizational and time management skills sufficient to prioritize workload, handle multiple tasks, and meet deadlines.

• Detail orientation to ensure quality standards are met without impairing workflow.

• Follow-up to ensure resolution and completion of tasks.

• Reviewing trades and disbursements that may expose the firm to potential liability.

• Research all forms of client queries that relate to various types of brokerage accounts.

• Gather information and prepare oral and written reports for clients.

• Preparing and delivering written and oral presentations.

• Investigating relevant irregularities.

• Identifies gaps in client portfolios based on the client’s objectives and goals using modern portfolio theory.

• Effectively and concisely communicate with clients.

• Operating standard office equipment and using required software applications to perform research and produce e-mails, memos, spreadsheets, and reports.

• Identifying the needs of customers through effective questioning and listening techniques.

Ability to

• Use effective oral and written communication skills sufficient to interact effectively and guide clients, financial advisors, and back-office staff on various operational issues.

• Execute instructions and request clarification when necessary.

• Partner with other functional areas to accomplish objectives.

• Provide a high level of customer service in a calm, courteous, and professional manner.

• Facilitate meetings, ensuring that all viewpoints, ideas, and problems are addressed.

• Attend to detail while maintaining a big picture orientation.

• Gather information and convey appropriate solutions to client queries or needs.

• Use independent judgment on a wide variety of monetary issues with potentially significant liabilities to the firm.

• Work under pressure on multiple tasks concurrently and meet deadlines in a fast-paced work environment with frequent interruptions and changing priorities.

• Maintain confidentiality.

• Work independently as well as collaboratively within a team environment.

• Establish and maintain effective working relationships at all levels of the organization.

• Review a client’s financial profile and determine if the product they are purchasing is appropriate for their risk tolerance, income needs, and goals.

Education/Previous Experience

• Bachelor’s Degree (B.A. / B.S.) in a related discipline and a minimum of four (4) years of experience in the financial services industry.

• A minimum of three (3) years’ experience in the areas of variable annuities and life insurance products.

• OR ~

• Any equivalent combination of experience, education, and/or training approved by Human Resources.

Licenses/Certifications

• SIE is required, provided that an exemption or grandfathering cannot be applied.

• FINRA Series 7 required.

• FINRA Series 66 or 63 & 65 required.

• Insurance License required.

• FINRA Series 24 or 9/10 preferred.

Education

Bachelor’s: Accounting, Bachelor’s: Business Administration, Bachelor’s: Finance

Work Experience

General Experience - 3 to 6 years

Certifications

Securities Industry Essentials Exam (SIE) - Financial Industry Regulatory Authority (FINRA)

Travel

Less than 25%

Workstyle

Hybrid

At Raymond James our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence and a conservative, long-term view. 

We expect our associates at all levels to:
•  Grow professionally and inspire others to do the same
•  Work with and through others to achieve desired outcomes
•  Make prompt, pragmatic choices and act with the client in mind
•  Take ownership and hold themselves and others accountable for delivering results that matter
•  Contribute to the continuous evolution of the firm

At Raymond James – as part of our people-first culture, we honor, value, and respect the uniqueness, experiences, and backgrounds of all of our Associates.  When associates bring their best authentic selves, our organization, clients, and communities thrive. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs. 

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