Purpose: The Wealth Management Analyst provides technical and analytical support for the Senior Advisors of Wealthstream Advisors. Such support includes financial planning analysis, identification of client needs/obstacles, development of recommendations, investment research and portfolio analysis, and preparation for client/prospect meetings.
Reports to: Senior Advisors/Principals
Job Overview: This job requires a detail oriented individual. Tasks may include impromptu projects which require project management and analytical skills. Clear and frequent communication between Analyst and Senior Advisors is critical to successful performance of this job. Comfort in communicating with clients is also essential to the position. This job provides a clear career path towards becoming a Senior Advisor.
Financial Planning • Analyze client assets, income, cash needs, and goals. • Complete cash flow projections with alternative scenarios, including insurance needs analyses. • Identify client Financial Planning issues/deficiencies related to Retirement Planning, Estate Planning, Tax Planning, Insurance (Life, Disability and Long Term Care), etc. and provide recommendations/solutions for addressing these issues. • Execute recommendations/solutions by managing/facilitating implementation of agreed upon action items. • Attend client meetings. Responsible for meeting preparation, meeting participation, taking detailed notes, and working with Senior Advisor and Operations Team to follow-up on all outstanding items. Meeting preparation includes the running of performance reports using Orion and updating drafts of Estimated Net Worth in E-Money. • Prepare/create Advanced Planning Mind Maps detailing total client picture/profile. • Prepare periodic reports, statements and other documents as requested by Senior Advisors.
Portfolio/Investment Management • Provide investment recommendations based on rebalancing and tax loss harvesting opportunities in client accounts. Also provide recommendations in instances of cash withdrawals/additions. All trading recommendations should take into consideration the tax implications to the client. • Review all trades (post-trade) to ensure trade affected properly and accurately. • Review (daily) Prior Day Client account transactions. • Analyze prospect/client outside accounts and create second opinion analyses using Morningstar Direct and additional resources. • Research and develop new and improved client presentation tools. • Monitor existing client investment vehicles/portfolios.
Additional Responsibilities • Participation in internal firm Estate Planning, Investment, and Financial Planning meetings/committees. • For Investment Committee, work with team to: o Examine new asset classes and investment vehicles to determine if appropriate for clients. o Review asset class universes’ on annual basis and/or as needed. o Carry out Wealthstream Advisors’ investment philosophy in setting up, monitoring and maintaining client portfolios. o Perform monthly/quarterly review of investment vehicles and provide reports to Senior Advisors. • Research law changes and new developments in aforementioned fields and help recommend/implement new firm policies based on current environment. • Assist in firm marketing.
Qualifications: • Bachelors Degree (in Finance, Financial planning, Accounting or Economics preferred). • 1-4 yrs. experience in Financial Planning, Tax Preparation, Asset Management, or related field. • CFP® Designation preferred. Additional certifications encouraged. • Skilled in Excel. • Strong analytic and communication (written and verbal) skills a must. • Detail oriented with strong ability to multi-task. • Comprehensive Investment Knowledge preferred.
Resources Required to Accomplish Job: Software: Microsoft Excel, Morningstar Direct, Fidelity Wealthscape, TD Ameritrade Veo, Orion, Junxure E-Money.
Wealthstream Advisors is an independent boutique wealth management firm built on meaningful relationships with a select group of clients. Our roots go back to a practice founded in 1996 with the goal of offering comprehensive wealth management services.
Today, Wealthstream Advisors offers personalized, in-depth financial planning and unbiased investment management services. We are fiduciaries, bound by law to act in your best interest. Your Wealthstream team has years of experience in the financial industry and has earned designations and credentials, including Certified Financial PlannerTM practitioner, Certified Public Accountant, Chartered Financial Analyst® and Personal Financial Specialist.
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Formed in 1974, the Independent Bankers Association of Texas (IBAT) represents Texas community banks. The Austin-based group is the largest state community banking organization in the nation, with membership comprised of more than 2,000 banks and branches in 700 Texas communities. Providing safe and responsible financial services to all Texans, IBAT member bank assets range in size from $10 million to $20 billion with combined assets statewide of nearly $165 billion. IBAT member banks are committed to supporting and investing in their local communities.