COO of Wealth Management - Transcend Practice Management

Chief Operating Officer

Location: Glastonbury, CT

Compensation: $230,000 - $250,000

Hours: Full-time, In Office

The best and brightest always have choices in the wealth management arena. We are a Wealth Management advisory firm headquartered in Glastonbury, CT. We are currently seeking an experienced Chief Operating Officer to join our rapidly growing team.

Our team is close and tight knit, working collaboratively to bring our values to the table each day: a client-first approach, integrity, authenticity, humility, and abundance. We take pride in having an entrepreneurial culture that embraces collaboration, empowers team members to excel, and serves clients first - always. We are committed to delivering high-quality, high-touch experiences to our clients so that, no matter whom they work with, clients know that they are receiving our utmost attention. Being their advocate is the highest honor for us.

The Chief Operating Officer will report to the Principal Advisors and serve as an integral member of the C-Suite team. The Chief Operating Officer will provide the leadership, management expertise, and vision necessary to ensure that the firm has the proper operational controls, administrative and reporting procedures, and people systems in place to effectively grow and to ensure financial strength and operating efficiency.

As the Chief Operating Officer, you will be responsible for developing, monitoring, and evaluating overall corporate strategy in unison with the C-Suite team with emphasis on bottom line performance. You will also provide useful financial insights to help make better decisions about formulating and executing strategy. The ideal candidate will have extensive experience within the financial services industry with a mix of financial, business, and management expertise. Additionally, this candidate will be proficient with the practices, policies, and procedures within wealth management.

Leadership & Team Development

• Serve as a subject matter expert in the wealth management and retirement planning industry, as well as the liaison between Commonwealth Financial Network and the firm.
• Demonstrate a comprehensive understanding of the roles and responsibilities for each position within the firm with the ability to fill in when necessary due to absence.
• Design and deliver practical solutions and improvements in partnership with every vertical of the firm as needed, while taking ownership of every step from the “game plan” to execution.
• Manage the Relationship Manager team, including continued education on wealth management job components.
• Conduct monthly training sessions using internal and external resources tailored to areas requiring improvement.
• Coordinate weekly staff meetings, monitor action steps, and ensure timeliness of completion.
• Streamline processes amongst Advisors, Paraplanners, Certified Financial Planning Analysts and Relationship Managers. Develop improvements to established procedures and create new methods and processes that enhance efficiencies or expand capabilities.
• Develop and promote policies that ensure positive interactions between Advisors, Paraplanners, Certified Financial Planning Analysts, and Relationship Managers.
• Coordinate training on new systems and technology for Advisors and staff.
• Work with the Marketing Director to create ideas and content about wealth management topics to help drive firm growth.
• Ensure that all team members have the tools and support needed to be successful.

Operations & Compliance

• Conduct research and stay up to date on the latest CRM and investment technology. Determine new tools for Advisors, Paraplanners, and Certified Financial Planning Analysts to be used both internally and externally with clients.
• Maintain integrity of CRM and filing systems with up-to-date information.
• Coordinate, monitor, and document all investment related administrative processes, such as establishing new accounts, processing client contributions and withdrawals, gathering required forms and signatures from clients and agents, submitting finalized investment forms, and following up with outside companies to ensure all requests are completed with accuracy and in a timely manner.
• Take initiative to anticipate the future needs and dilemmas that the firm might face in an evolving wealth management industry, as well as opportunities that may be available.
• Direct the business and wealth management operations of the firm by identifying, monitoring, and continually improving the firms’ key metrics and deliverables.
• Lead integration of any newly acquired firm including technology, paperwork, messaging, client onboarding, compliance. Communicate directly with CEO/partners of acquired firms.
• Assist in the legal protection of the firm by ensuring compliance with all applicable laws and policies.
• Establish internal and external processes and key performance indicators for the firm while measuring effectiveness and providing timely, accurate and complete reports as requested.

Strategy and Vision

• Develop short-term and long-term strategies as part of the annual business planning process.
• Develop and implement a system for tracking and reporting on strategic plan progress.
• Communicate regularly with internal departments and strategic partners to ensure service delivery expectations are met.
• Evaluate overall firm strategy using financial insights to help make better decisions about formulating and executing strategy.
• One-off projects and other duties and responsibilities as assigned.

Requirements and Qualifications:

• Proven track record of success facilitating organizational change within a growing firm; experience with mergers and acquisitions; specifically, M&A integration of best practices and strategic objectives.
• Proven experience in a leadership/supervisory role, preferably in a COO or similar capacity.
• In-depth knowledge of positions within a wealth management firm. The ideal candidate will have previous experience in a client services or analyst role with advancement to a leadership role.
• Experience managing the operations of high-net-worth individuals and their businesses. Commonwealth Financial Network, Schwab, or Fidelity experience a plus.
• Bachelor’s degree required. Advanced education: CPA, CFP, CFA, or Master’s degree preferred.
• Superior management skills with the ability to mentor and develop employees using a supportive and collaborative approach.
• 10+ years of industry experience; 5+ years in operations leadership
• Ability to establish and monitor priorities; evaluate and report results.
• Exceptional judgement, problem solving, negotiation, and conflict resolution skills. Maintain a high level of integrity and confidentiality.
• Polished written, oral, interpersonal and presentation skills.
• Professional behavior according to the GSWM Employee Manual. Observe and honor GSWM core values.
• Comply with all SEC and Commonwealth regulations; satisfy continuing education requirements.

We welcome a diverse pool of applicants from various backgrounds and urge you to apply to learn more about what our firm offers and see if it might be an attractive fit for both us and you. We look forward to meeting you!