BMO Financial Group Wealth Planning Consultant in Nova Scotia, Canada
Leveraging their background and experience in financial and wealth planning, the Wealth Planning Consultant (WPC) and Senior Wealth Planning Consultant (SWPC) roles are professionals who help BMO Personal Wealth clients meet their long-term, financial objectives by analyzing the client's status and setting a program to achieve the client's goals. As a key BMO Personal Wealth (Private Bank and Nesbitt Burns) partner, a critical objective for incumbents in this role is to enhance the Client and BMO Advisor experience. The WPC/SWPC is accountable to partner with the client’s lead Relationship Manager (i.e. Private Bankers, Investment Counsellors, and/or Investment Advisors) to deliver a client-focussed planning experience culminating in a documented, client wealth planning strategy that will guide the client relationship on an ongoing basis..
The roles’ overall objective is to responsibly and proactively support the growth and retention of client assets. They provide wealth planning advice/guidance to broaden the dialogue with clients with a goal of assisting in efforts to consolidate assets and increase revenue to BMO thus driving increased profitability, improved share of wallet and NPS scores. Within a dedicated banking region and for a BMO Personal Wealth line of business (LOB) ( i.e., BMO Private Banking and/or BMO Nesbitt Burns), the roles are accountable to manage the end-to-end client wealth planning experience - from discovery to financial planning analysis, development of the financial plan and recommendations, to the final presentation to the client. This includes, as appropriate, proactively identifying opportunities for or responding to client’s inquiries about advanced or specialized planning and investment needs and aligning the client’s planning conversations with BMO Wealth Management partners
Lead and facilitate a goals based discovery process directly with clients. Ensure standards relative to data capture and plan creation are met after the conversation to maintain effective knowledge management within BMO Wealth (Private Banking and/or Nesbitt).
Apply well developed consultative sales and financial planning principles, practices and techniques in their interactions with clients.
Develop detailed and complex financial plans using NaviPlan to support High Net Worth clients; the planning process for these clients requires sophisticated knowledge and execution skills to gain the trust of clients to provide a comprehensive picture of their financial dreams, personal goals and objectives. Planning deliverables may include (but are not be limited to) statements of net worth, cash flow and asset allocation reports, retirement projections, life insurance / disability / long-term care needs analyses, education fund scenarios, basic tax and will & estate planning and charitable gift giving strategies.
Leverage expert planning resources in the field of taxation, estate & trust and business succession planning where appropriate to properly assess and provide insights to our most valued clients.
Compliance – ensure all planning activities and conversations are complaint within the jurisdiction they practice in.
Ensure that the region’s client experience standards for Financial Planning are met.
Client Relationship Management
Develop and implement strategies to increase the scope of services to existing and potential clients.
In partnership with the other members of the client strategy team, accountable to ensure that the region’s client experience standards for Financial Planning and Client Relationship development are met
Identify and engage other professionals to create a client strategy team for the client based on needs discovered and solutions needed.
Business Strategy and Execution
Act as a key advisor to provide professional support to team members and partner within BMO Wealth (Private Banking and/or Nesbitt Burns) to offer an integrated team of wealth management professionals (investment, banking, trust, sales) to achieve/exceed business objectives.
Develop and implement strategies to increase the scope of services to existing clients to expand share of wallet and grow overall business results.
Risk Management and Control
Ensure proper adherence to all aspects of First Principles Our Code of Conduct and Ethics
Protect the Bank’s assets by adhering to all banking, investment and lending regulations (as appropriate), Policies and Procedures, legal and ethical requirements, process requirements, bank guidelines and established risk guidelines
Maintain a high standard of care and accuracy in the creation of financial plans
Adhere to all appropriate regulatory bodies governing an incumbent’s designations
University degree required
Financial Planning designation (minimum CFP, IQPF (Quebec)); Able to build, discuss and deliver plans with clients. Leverages support from specialized planners (Tax, Estate, Succession etc.) where required
WPC – minimum of 1-3 years of financial planning experience
SWPC – minimum of 3-5 years of financial planning experience
Expert knowledge of financial planning software (knowledge of NaviPlan is an asset).
Experience with Salesforce.com desirable
In-depth experience dealing with High Net Worth clients
Knowledge of tax and/or estate planning viewed as an asset
Expert knowledge and technical proficiency related to wealth planning strategies, issues and trends.
In-depth knowledge of Bank products, services, organization and Banking Group interrelationships viewed as an asset
In-depth knowledge of investment management principles, economics and financial markets viewed as an asset.
Proven track record in developing and growing a profitable financial or related client services business.
Expert discovery and interpersonal skills. Ability to interview a client and have them open up about personal goals and objectives so that we can create personalized and meaningful client plans
Comfortable dealing with entrepreneurs, corporate executives and the external market.
Expert Practice Management capabilities – ability to operationalize business development strategies for the team and market.
Strong proactive nature both with team and with clients to drive identification of new opportunities and proactive client contact.
Attention to detail and ability to efficiently and effectively build plans and roadmaps
‘Generalist’ with good knowledge of our business in order to identify solutions that may meet the clients’ needs (the Lead Relationship Manager will be the specialist to deliver and confirm the solution required)
Strong team player – supports lead relationship managers and works collaboratively with them to deliver a plan to their clients
In-depth business development and relationship management skills.
Expert communication and interpersonal skills.
Expert presentation skills (both written and verbal) with large groups and in an individual setting.
Strong work ethic, works well under pressure and in a high stress, fast-paced and changing environment.
Ability to communicate complex planning advice in a comprehensive and practical manner.
Ability to be decisive in light of complex, critical and significant decisions to make, often in time-sensitive conditions.
Flexible and empathetic, able to work effectively in a variety of situations
Ability to manage numerous demands that need to be prioritized within tight deadlines.
Well-developed sales acumen – proactive, self-starter, confident.
Ability to establish rapport and credibility quickly with an audience.
Ability to offer solutions to a magnitude of diverse, complex and ambiguous issues/situations in a creative manner.
Expert understanding of complex financial planning concepts.
Experience with financial planning for Holding Companies and corporations.
At our company, we have been helping our customers and communities for over 195 years. Working with us means being part of a team of talented and passionate individuals with a shared focus on working together to deliver great customer experiences. We stand behind your success with the support you need to turn your potential into performance.
To find out more visit our website at www.bmo.com/careers .
BMO Financial Group is committed to an inclusive, equitable and accessible workplace. By embracing diversity, we gain strength through our people and our perspectives. We welcome and encourage applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.