Director of Wealth Management Sales and Strategy

6 days ago

Chicago, Illinois, United States Midland States Bank Full time
Job Summary

The Director - Wealth Management Sales is a senior leadership position responsible for driving the growth and development of the wealth management division at Midland States Bank. This role requires a seasoned professional with a proven track record of leading high-performing teams and developing effective sales strategies.

Key Responsibilities
  • Leadership and Team Management
    • Manage a team of professionals in a customer-centric culture to excel in a fast-paced environment.
    • Complete coaching and feedback sessions as needed and appropriate to development plans and succession management as well as managing the annual performance review process with direct and indirect reports.
    • Identify high-potential employees for advanced training and development opportunities.
    • Effectively manage poor performers.
  • Business Development
    • Recruit, lead, and develop Financial Advisors, Wealth Advisors, Client Service Associates, and Retirement Planning Services talent to engage in business development, retention, deepening, while also referring clients and prospects to Midland Trust Company and other areas of Midland State Bank.
    • Design, implement, and grow a Branch-based and Virtual/Remote Advisory business model and team. Establish plans to scale and grow a remote advisor (Centers of Excellence) approach to expand our reach beyond current geographic footprint.
    • Collaborate with Wealth Executives to design, implement, and gain usage traction on self-directed and hybrid investing technology and solutions.
    • Lead the sales growth process by monitoring and setting sales goals to achieve growth and revenue and profitability targets for wealth management.
    • Actively call, prospect, and develop high-value prospects and clients of the Bank to market trust and investment management services, as well as work with centers of influence to cultivate similar types of business.
    • Proven track record accelerating organic growth in fee-based AUA.
  • Strategic Initiatives and Client Relationship Management
    • Partner with Senior Leadership to design and implement business processes to improve client experience, practice management, overall service, and profitability while minimizing business risks to accommodate growth of the organization.
    • Collaborate on Salesforce design for wealth and API integration to platforms.
    • Promote One Midland, One Wealth behaviors to increase referral activities.
    • Elevate usage of digital, co-browse, account aggregation tools to ensure staff and client engagement.
    • Collaborate with support and operations on process improvement and operational integrity.
    • Establish and manage a planning as central mindset and disciplined rituals to grow and deepen client relationships. Planning penetration with both new and existing tiered clients in all sales leadership areas.
    • Lead cultural and process changes in bank and advisor book acquisition strategies.
    • Collaborate and plan client events, virtual forums to engage clients and prospects.
    • Leverage Advisor support tools and Investment Asset Management expertise to provide the most appropriate solutions for clients.
    • Model the way on recruiting, selling, and client engagement strategies while also meeting and serving top clients.
    • Manage and represent the advisor group to represent the Bank in community organizations and activities to enhance the Bank's image.
    • Participate in strategy, business review, and financial forecasting practices as necessary.
    • Uphold all ethics and sales incentive program parameters while monitoring risk.
    • As a working manager, provide joint calling assistance, referrals, and support to the team.
    • Meet and exceed all team goals related to items such as revenue, pipeline targets, calling, and referrals.
  • Other
    • The role requires regular travel for training and team meetings, and willingness to travel periodically, to locations within market as needed. Mandatory in-person employee and client meetings.
    • Requires work in a Midland office to ensure collaboration and support of internal and external customers.
    • Maintain compliance with all applicable regulations, including, but not limited to, the Bank Secrecy Act (BSA).
    • Other duties as assigned.

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