Investment Consultant I, Miami FL
The Investment Consultant I (IC1) is responsible developing new business and implements investment plans relying on securities, investment products and advisory programs that have been previously analyzed and pre-selected by product specialists. Monitors investment portfolios and rebalances to ensure alignment of asset allocation with client's investment objectives and risk tolerance. Manages medium to large sized accounts. Responsible for meeting KYC and AML and all other corporate and regulatory compliance standards. Ensures documentation is up to date and complete.
Duties and responsibilities include:
- IC1s develop own leads and those brought by Amerant Bank banking officers and Relationship Managers:
- Once prospects are identified, IC1s establish contact either by phone, during visits or while customer is in the office.
- IC1s deliver introductory presentation, gather customer feedback and prepare initial proposal.
- If prospect demonstrates interest, IC1s start a thorough suitability assessment, establishing the number and type of brokerage or advisory accounts required as well as the purpose for each one of them and the investment approach or model portfolios that best suit customer needs and constrains.
- Once suitability is assessed, IC1s gather account opening documents (duly completed and signed forms and agreements, IDs, and KYC, as per procedures), prepare new account folder and submit for approval to Principal as per supervisory procedures and operations manual.
- IC1s follow-up account opening process and initial funding.
- For all Private Banking customers, a very close coordination with Relationship Manager in charge of the customer is expected, including previous validation of proposals involving changes or new products/strategies, pricing guidelines, and immediate reporting of issues of interest that may affect overall customer experience and level of satisfaction with the Group.
- IC1s provide assisted execution to brokerage customers, including the provision of incidental recommendations as part of the brokerage services; the preparation of lists of suitable products as well as the explanation of them to customers; obtaining execution orders; executing directly via NetX360 or through Customer Trading Desk; making sure funds are available before settlement; following-up on settlement date as per execution instructions; monitoring account activity for signs of abnormal patterns and/or AML flags; following up with Sales Assistants for funds due cover; intervening if W-8BEN update is not flowing through regular channels; performing call back whenever customer initiates a wire transfer; processing pledge account opening, funding and release, among others, and as laid-out in supervisory and operational manuals.
- IC1s provide investment advice to advisory customers. IC1s apply investment profiling interview to facilitate portfolio selection, prepare and explain proposals on recommended model portfolios, provide periodic performance information and remain aware of changes in portfolio performance or customer profile by maintaining and documenting regular contacts with customers.
- With support from Account Documentation staff, IC1s periodically review account and customer files as per supervisory and operational procedures performing maintenance of customer information, account and customer KYC, investment profiles, and countries/states of residence, among others, and as laid-out in supervisory and operational manuals.
- IC1s maintain licenses in good standing by adhering to policies and procedures, including completing firm and regulatory trainings, and by raising awareness of any issues that may affect the good stance of their personal licenses or the Firm's.
- IC1s remain current on market news and events by dedicating work and personal time reading and browsing financial news and media
- IC1s must also remain current on general investments and products knowledge by their active and enthusiastic participation in scheduled courses, trainings and product meetings.
- IC1s might be asked to participate in or validate assumptions in the development of new products and services.
- IC1s bring to the Firm any market intelligence obtained from conversations with customers and prospects.
- IC1s identify, evaluate, monitor and make any recommendation deemed necessary to their respective Executive Committee member in order to assess, reduce, eliminate or control any current or prospective risks to earnings or capital arising from violations of, or non-conformance with, laws, rules regulations, prescribed practices, internal policies and procedures or ethical standards.
Minimum Education and/or Certifications Requirements:
Bachelor's degree in business administration, finance or economics.
Otherwise, the supplement of a masters' degree (Business, Finance, and Economics) or of a professional certification (CFA, CFP, or CIMA) are required.
Series 7 and 66.
Minimum Work Experience Requirements:
2+ years' relevant experience managing a book of business in the provision of securities brokerage and/or investment advisory services.
Technical and/or Other Essential Knowledge:
Must have proven interest in capital markets and advanced financial knowledge.
Proficiency using Microsoft Office 365 products including MS Word, MS Visio, MS Excel, MS Teams, and MS PowerPoint