Director of Financial Planning & Practice Development

Duties & Responsibilities

Type of Role: Director; Functional Leadership

Area of Responsibility and Purview: Directs all financial planning and practice development activities for Private Wealth Management

Role Specific Job Duties:

• Oversee the team of financial planning professionals across the business
• Partner with Advisors, Managing Partners and practice teams on driving practice efficiencies and growth strategies
• Grow the number of planning engagements (both personal and business) in Private Wealth
• Support practice teams in the development and execution of their business plans with regards to sales goals and other KPI’s
• Integrate a planning led approach across all advisor practices
• Set the strategic direction and establish priorities for the ongoing growth of financial planning and practice development
• Manage annual budget and execution of the business transformation plan for the function
• Establish KPI’s for the function that will allow Private Wealth Management to measure and monitor success
• Align the resources in the function with the annual operating plan and drive hiring needs in partnership with human resources
• Manage team and practice performance across function, working with managers to regularly update the associate 9-box and developing specific professional development plans for each associate
• Implement and manage a learning and development program to ensure all financial planning associates and advisors adopt industry best practices

Function Specific Job Duties:

• Meet regularly with direct reports and managing partners to proactively understand trends, risks, and opportunities to deliver financial planning solutions to clients
• Meet regularly with Managing Partners and practice teams to provide practice assessments and to drive and support practice growth and efficiencies to maximize overall business health scores
• Provide ongoing support and accountability to Managing Partners in key areas of practice management including client experience, business growth and development, establishing a clear vision and strategy, and strong business and financial management
• Work with internal business partners to ensure the highest level of support and service for Advisors
• Direct and orchestrate the delivery of comprehensive analysis and advice, for both personal and business planning, to Private Wealth current and prospective clients
• Engage Managing Partners and practice teams in the adoption and integration of firm technologies and resources
• Assist in the recruiting, onboarding and assimilation of new wealth advisors
• Routinely review financial planning outputs to ensure quality of financial advice provided, client experience, maximize scale and minimize risk
• Partner with business analysis team and IT to implement technology solutions to improve client experience, quality of financial advice and drive operational scale
• Design, implement and monitor specific programs aimed to increase client retention and engagement (wallet share)
• Based on client interactions and input from team managers, proactively identity new service offerings and growth opportunities
• Ensure there is a well-defined financial planning process, including meeting preparation, meeting presentation and client follow up within each advisor practice
• Document, deliver and enforce sufficient controls to prevent financial planning errors, breaches of client confidentiality or omissions
• Other duties as assigned

Requirements

MINIMUM:

• Bachelor’s degree in relevant field or combination of education and experience that provides and equivalent background
• 10+ years of applicable experience within Financial Services
• 3+ years of demonstrated functional leadership experience within a wealth management institution
• CFP or advanced designation
• Must have, or possess ability to obtain, the Series 65 registration within 120 days of employment

PREFERRED:

• Demonstrated financial advisor or wealth management sales experience

Knowledge & Skills

MINIMUM:

Job Skills:

• Systems thinking and complex problem solving
• Attention to detail, yet ability to grasp big picture
• Highly organized and can effectively multi-task
• Great communicator with strong interpersonal skills
• Exceptional written communication and presentation skills
• Strong knowledge of investment, tax and estate planning strategies
• Knack for understanding how technology can improve client experiences and front office operational processes
• Experience in designing and managing financial planning processes
• Proven Experience in working with advisor practices to drive organic growth
• Proficiency in analyzing business processes and client journeys, and working with others to drive change
• Able to balance a client experience mindset when managing and controlling business risks
• Builder and communicator of analytical frameworks that define and measure success
• Demonstrated strong math skills
• Effective financial research skills

Technical Skills:

• Strong proficiency of Microsoft Office Suite (Word, Excel, PowerPoint, SharePoint)
• Strong proficiency with eMoney client portal and financial planning software

Work Environment

• Type: Office Centric (60% In Office)
• Location: Downtown, Kansas City or Leawood, KS

Supervision/Management:  Responsible for managing other managers within the function. Performs considerable short and long-term planning, scheduling, and coordinating of resources.  Responsible for the growth and development of direct reports. Accountable for assisting with the planning and management of budget, including delivery of end results for the function.   

Compensation Range:

The posted compensation range on this listing represents UMB’s standard for this role, but the actual compensation may vary by geographic location, experience level, and other job-related factors. In addition, this range does not encompass the full earning potential for this role. Please see the description of benefits included with this job posting for additional information

UMB offers competitive and varied benefits to eligible associates, such as Paid Time Off; a 401(k) matching program; annual incentive pay; paid holidays; a comprehensive company sponsored benefit plan including medical, dental, vision, and other insurance coverage; health savings, flexible spending, and dependent care accounts; adoption assistance; an employee assistance program; fitness reimbursement; tuition reimbursement; an associate wellbeing program; an associate emergency fund; and various associate banking benefits. Benefit offerings and eligibility requirements vary.

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