Wealth Management Associate Director

4 weeks ago

Minnetonka, Minnesota, United States Cresset Full time

About Cresset

Cresset is a leading, independent, multi-family office and private investment firm that aims to revolutionize the way people experience wealth. By providing access to top talent, innovative ideas, and investment opportunities, Cresset offers deeply personalized wealth management, investment advisory, and family office services through Cresset Asset Management, an SEC-registered investment advisor with over $50 billion in assets under management. The firm is widely recognized for its excellence and frequently ranked as a top RIA firm by Barron's and Forbes.

Job Description

Cresset is seeking a highly skilled Associate Director, Wealth Advisor to join its wealth management team. The successful candidate will provide comprehensive support to high-net-worth clients by working closely with experienced Wealth Advisors. This role is ideal for those who wish to develop client advisory skills under the guidance and mentorship of an experienced Wealth Advisory team.

Key Responsibilities

Client Relationships

  • Proactively support the Wealth Advisor by providing excellent client service and maintaining a high level of client satisfaction
  • Build a strong wealth management acumen with an understanding of Cresset's investment philosophy and ongoing general market outlook, portfolio construction and management, goals-based financial planning, risk management, alongside estate, tax and philanthropic planning considerations
  • Prepare client meeting materials; may attend client and/or prospect meetings
  • Manage completion of deliverables from start to finish with the Client Associate and/or various internal and external parties as needed

Financial Planning

  • Assist in the production and maintenance of net worth statements, financial plans, cash flow projections, and wealth forecasting models
  • Where appropriate, attend prospect and client meetings to gather information to create financial plans
  • Review and understand estate documents (entity structures, estate plan, wills, beneficiaries, trustees) and tax returns; collaborate with other internal teams (Wealth Planning, Wealth Strategy, Tax) and external providers as needed
  • Learn and understand current wealth planning trends, legislative developments, and techniques; partner with the Wealth Advisor to enhance client planning

Portfolio Management

  • Review client portfolios and assist in the development, presentation, and implementation of investment recommendations to clients, including portfolio construction, proposals, rebalancing, phase-in planning, and quarterly performance reviews
  • Collaborate with the National Investments Team to apply the firm's best thinking to client portfolios while considering client-specific needs regarding cash flow, taxation, liquidity, risk, and other considerations
  • Assist with the implementation of client portfolio trades, including execution, margin maintenance, and settlement
  • Develop and maintain investment policy statements (IPS)

Operations

  • Coordinate with the Client Associate to ensure tasks and requests are handled, including new client onboarding, account maintenance, new investments, redemptions, transfers, and money movement requests
  • Document client notes, investment changes, and activities in Salesforce
  • Review clients' quarterly performance reports and collaborate with Reporting to identify and resolve issues

Education and Experience

  • Bachelor's Degree required; strong preference given to MBA, CFA, or CFP professionals or those on track to earn any of these designations
  • Previous work/internship experience in financial services required; 4+ years' experience preferred
  • Series 65 license required; unlicensed candidates required to obtain the license within 120 calendar days of employment

Skills and Abilities

  • Highest ethical standards with willingness to learn and comply with SEC and other company required rules and regulations
  • Initiative, problem-solving ability, adaptability, and flexibility
  • Effective speaking and presentation ability
  • Excellent writing proficiency and communication skills
  • Strong numerical aptitude
  • Outstanding organizational skills and the ability to prioritize and balance multiple projects simultaneously
  • Ability to work independently over time with limited guidance
  • Coachable with the ability to work in a team environment and independently when necessary
  • Learning and development mindset and drive for continuous improvement
  • Personal commitment to continuing education for professional development and growth
  • Proficient with Microsoft Office suite; knowledge of eMoney, Salesforce, Addepar, and custodial platforms is a plus

What We Offer

At Cresset, we prioritize our people and focus on creating a supportive and collaborative work environment. Our competitive compensation package includes an annual incentive and a comprehensive benefits program, including medical, dental, vision, life insurance, 401(k) retirement plan, health savings accounts, short and long-term disability insurance, voluntary critical and accident insurance, and pre-tax parking and transportation programs. All employees receive equity in Cresset, aligning employee and organizational interests.

Equal Employment Opportunity

Cresset is committed to ensuring equal employment opportunity for all employees and applicants without regard to race, color, religion, sex, pregnancy (including childbirth, lactation, or related conditions), national origin or ancestry, age, disability, veteran status, uniformed servicemember status, sexual orientation, gender identity, status as a parent, genetic information (including testing and characteristics), or any other characteristic protected by applicable federal, state, or local law.

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