Managing Director - Baystate Financial

About Us:

Baystate Financial is an award-winning financial firm that has been in operation since 1901. With headquarters in Boston, MA and 16 office locations throughout New England, we specialize in financial planning, business and estate planning, retirement planning, and a variety of protection and investment products. Our mission is to help clients gain clarity, leverage, and financial independence by providing informed and appropriate financial solutions.

Summary of Responsibilities:

The primary purpose of the Managing Director is to recruit, train, supervise, retain, and grow a unit of Advisors at various stages of professional advancement and experience. These activities should be driven by the business plan of the Firm and should be consistent with MassMutual and Baystate’s business planning objectives. This is a hybrid role, with candidates able to work from our Wellesley, MA or East Providence, RI offices.

Principal Responsibilities:

• Manage, supervise, develop and coach a unit of Advisors at different career stages (from very inexperienced to very experienced). This includes:
  - Joint sales calls, regular team meetings, and individual sales planning conferences.
  - Create a business and performance plan with each Advisor that addresses development needs, marketing plan and team selling opportunities. Ensure that each plan reflects the Firm’s and MassMutual and Baystate’s overall goals and objectives.
  - Coach Advisors on increasing sales, meeting the objectives of their business plans, as well as overall presentation skills and product knowledge. Provide key support in Advisors’ professional development
  - Manage performance of Advisors and participate in employment-related decisions, including identifying, hiring, onboarding and termination.
• Actively work with the Director of Recruiting to develop and execute recruiting strategy to attract qualified IXP and EXP recruits. Assist the Director of Recruiting in identifying strong candidates by sharing Centers of Influence and driving active recruiting strategies.
• Proactively contribute to Firm’s diversity and recruiting objectives.
• Actively partner with the Director of Marketing when developing marketing plans to achieve greater market penetration, increase sales results and heighten brand awareness within the community.
• Assess Advisors books of business to identify new markets for growth.
• Evaluate the training needs of team and work with the Director of Training to address those needs.
• Maintain a thorough knowledge of MassMutual’s products and effectively transfer that knowledge to Advisors.
• Maintain an ethical and professional work environment..
• Ensure that each Advisor is compliant with and adheres to all MassMutual/Baystate Financial policies and practices with respect to Compliance, Human Resources and Legal Affairs inclusive of MassMutual good business practice processes. Escalate concerns as appropriate.
• Personally adhere to and enforce Compliance, Human Resources and MetLife/New England Financial rules and guidelines. Partner with senior management, Compliance and Legal as appropriate.
• Stay current on MassMutual/Baystate policies, systems, tools and with industry trends regarding field management best practices.
• Actively participate in MassMutual-sponsored-management and leadership development programs
• Possess financial insight, problem-solving, management, leadership, communication, and interpersonal skills.
• Complete continuing education requirements to maintain licenses. Obtain professional designations and FINRA registrations, as required.
• Maintain a general knowledge and understanding of employment-related laws and seek guidance from Human Resources and Legal business partners as needed.

Knowledge, Skills, Competencies Required:

• Demonstrated skill in teaching and coaching Advisors on how to build and improve their practices.
• Possess financial insight, problem-solving, management, leadership, communication, and interpersonal skills.
• Knowledge of FINRA/SEC compliance regulations and policies and ability to apply MassMutual specific policies and procedures appropriately.
• Ability to learn marketing systems, methods to identify markets and ability to provide direction to Advisors to identify markets.
• Ability to learn Firm’s operational processes and compensation levers.
• Demonstrated experience overseeing major transactions.
• Knowledge of industry trends and ability to understand and apply field management best practices.
• Knowledge of professional organizations and professional designations.
• Ability to partner effectively with others to achieve results.

Job Requirements:

• Bachelor’s degree preferred.
• Appropriate licensing and FINRA registration: Life/Health insurance, Series 6, 63 (Series 7, 24 and 53 preferred).
• Licenses necessary to sell MassMutual and MMLIS products.
• 4+ years as a Producer preferred, and 3+ years as a Managing Director in an organization that is highly structured and has commission-based sales.
• Track record of success in financial services sales or sales management.

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