Merchants Bank established in 1875 is a growing, employee-owned company, dedicated to a philosophy of community banking with total company wide assets of over $2.5 billion. Due to continued growth, we are searching for an Associate Investment Advisor to grow and service our investment area and customer in the Winona, Minnesota area market.
The Associate Investment Advisor is responsible to contribute to the growth and profitability of the Bank through management of sales, marketing, and continued customer relationships. This role is designed for intentional career growth as it is a precursor to becoming an Investment Advisor/Executive.
The successful candidate will be enrolled in a Professional Coaching Program designed to provide comprehensive training curriculum with a foundation of operations, sales, and service skills. The program will culminate with the Associate Investment Advisor being fully licensed and trained to start attracting, onboarding, servicing, and retaining investment services clients. Throughout this time, the Associate Investment Advisor will work with a team of current Investment Services professionals.
This position desires a college degree in Accounting, Finance or Business Administration and sales experience is a strong plus. This position will work out of our Winona downtown location.
Competitive hourly pay and benefit package provided, including an ESOP. Apply online at www.merchantsbank.com/about/careers, mail resume and cover letter to Merchants Bank, Attn: Beth Ede, CHRO, 102 East 3rd St., Winona, MN 55987, or email your resume and cover letter to firstname.lastname@example.org.
Deadline for external application is May 12, 2021.
The Associate Investment Advisor’s role is to contribute to the growth and profitability of the Bank through management of sales, marketing, and continued customer relationships. The role is a precursor to becoming an Investment Advisor/Executive. This role is designed for intentional career growth. The Associate will be enrolled in a Professional Coaching Program, administered by Securities of America, Inc. and the Advisor Group. The Associate program is designed to provide a comprehensive training curriculum, with a foundation of both operations, sales, and service skills. The program will culminate with the Associate being fully licensed and trained to start attracting, onboarding, servicing and retaining investment services clients.
The Investment Associate will work with a team of current Investment Services professionals. The Associate will focus on enhancing the image of the Bank in the community and increasing ancillary business. The Investment Associate is responsible for establishing and retaining excellent relationships with existing and prospective customers. The Investment Associate will also be responsible for providing referral training to Bank personnel and creating sales and cross selling awareness that prevails Bank-wide. Developing long term relationships with existing clients and developing new customer relationships is essential. The Investment Associate must be an unbiased, trusted advisor with strong ethics. Developing and maintaining good internal relationships is essential.
- Ability to work independently and be responsible for own production and for maintaining strong client contact and service.
- Complete Securities Industry Essentials (SIE) immediately, then pass the Series 7 License within first 6 months, then pass the Series 66 License within the next three months. Next the Associate Advisor Training will commence and strive to complete within the next four to five months. Lastly, pass the insurance license exam within the next three months. Associate accountable to earn all licenses within 12 to 15 months of employment.
- Accustomed to working under deadlines, meeting time-based, production-oriented goals.
- Knowledge of financial planning, financial products and markets.
- Ability to help Bank customers identify their savings and retirement needs and offer products appropriately.
- Knowledge of other Bank products and the ability to cross-sell these products to customers.
- Ability to work well with people including customers and employees.
- Ability to generate new accounts and relationships from non-bank customers.
- Excellent public speaking skills, including teaching and training ability.
- Assist with Coordinating Investment Sales promotional campaigns with the Bank’s Marketing Department.
- Maintain contact with existing customers periodically reviewing client’s goals and needs.
- Ability to develop a team approach with other Bank employees and departments to build a referral network, including conducting referral training for Bank Personnel.
- Regular and dependable attendance is an essential function of the job.
- Adherence to compliance with laws concerning financial institutions, and completion of compliance disks as required for job description.
- Employee will be expected to contribute to a positive working environment through words and actions.
- Employee will be expected to take responsibility to ensure that internal and external customers receive outstanding service.
- College Degree – Accounting, Finance or Business Administration preferred
- FINRA Series 7 and Series 63 & 65 or 66 Insurance License by the end of the 15 month time horizon (or sooner)
- Past sales experience a strong plus
- This position works out of the Winona Downtown location
Work is performed in an inside working environment, low noise levels, comfortable working surroundings and conditions. No chemical environmental hazards. Will be required to plan seminars for potential customers, and position will require limited travel, as needed, for seminars, etc.
Reports to the Regional President for duties, responsibilities, and for proper interpretation of role.