Key Responsibilities and Required Skills for Investment Advisor Assistant

🎯 Role Definition

The Investment Advisor Assistant (IAA) is a client- and operations-focused professional who supports financial advisors and portfolio managers by coordinating client onboarding, executing and reconciling trades, preparing client-facing communications, maintaining accurate account documentation, and ensuring regulatory and firm compliance. The IAA acts as a key liaison between clients, custodians, product partners and internal teams to deliver a seamless, high-touch advisory experience while enabling advisors to focus on strategy, business development, and portfolio management.

📈 Career Progression

Typical Career Path

Entry Point From:

Client Service Representative at a broker-dealer or RIA
Operations Associate supporting trading or custody desks
Paraplanner or Junior Analyst in wealth management

Advancement To:

Senior Investment Advisor Assistant / Lead Client Service Associate
Paraplanner / Associate Financial Planner
Registered Investment Advisor / Financial Advisor (with licenses)
Operations Manager or Portfolio Administrator

Lateral Moves:

Trade Operations Specialist
Client Success Manager (Wealth Tech/FinTech)
Compliance Analyst (Advisory Operations)

Core Responsibilities

Primary Functions

Support financial advisors by preparing and maintaining comprehensive client files, ensuring all account documentation, signature cards, trust documents, powers of attorney, and suitability forms are complete, accurate, and uploaded to the CRM and custodian portals.
Coordinate full-cycle client onboarding including account transfers (ACAT), new account paperwork, beneficiary and entity documentation, tax forms, fee scheduling, and custodian setup to accelerate time-to-first-trade.
Execute and monitor trade orders in custodial/trading platforms (e.g., Schwab, Fidelity, Pershing), including market, limit, rebalancing and model trades, ensuring correct symbols, quantities, and settlement instructions.
Reconcile daily trade blotters and settle discrepancies by investigating breaks with custodians, broker-dealers, portfolio managers, and internal trading desks to meet cut-off times and reduce exceptions.
Prepare and deliver polished client communications: meeting invitations, agendas, post-meeting summaries, performance reports, account statements, billing notices, and customized portfolio explanations using CRM and reporting tools.
Run portfolio performance and attribution reports using Morningstar Direct, Bloomberg, or internal reporting platforms; validate data integrity and escalate anomalies for timely correction.
Assist with portfolio rebalancing and model implementation, ensuring tax-aware trades and cash management are considered and trade execution aligns with client objectives and risk tolerances.
Maintain client contact calendars, schedule client meetings (in-person and virtual), prepare pre-meeting materials (risk profiles, updated financial summaries), and document meeting outcomes and action items in the CRM.
Process routine account maintenance requests including beneficiary updates, address changes, distributions, IRA rollovers, transfers, and account closures, following firm policies and custodial procedures.
Conduct and document KYC, AML, and suitability reviews: gather source-of-funds information, update risk assessments, flag unusual activity, and support compliance audits and regulatory requests.
Support fee billing and reconciliation processes: calculate advisory fees, prepare fee invoices, submit custodial fee authorizations, and resolve client billing inquiries.
Coordinate and administer proxy voting, corporate actions, dividend reinvestment elections, and corporate event notifications; ensure clients are informed and instructed appropriately.
Manage document production and delivery: assemble account opening packets, investment policy statements (IPS), financial plans, and regulatory disclosures; ensure secure transmission and archival.
Assist advisors with investment research and manager due diligence by compiling product materials, performance snapshots, strategy summaries, and suitability notes to support recommendations.
Facilitate transfer of assets (internal and external), including inbound transfers, outbound ACATs, and partial transfers, maintaining clear communication with transfer teams, clients, and custodians until completion.
Maintain and update CRM data hygiene: client profiles, contact details, household relationships, notes, tasks, segmentation tags, and campaign lists to enable accurate reporting and compliance.
Prepare documentation and administrative support for client meetings, RFP responses, and new business pitches, including presentation deck assembly and personalized investment summaries.
Support advisor licensing and compliance needs by tracking continuing education requirements, maintaining copies of registrations (Series 65/66/7), and assisting with firm supervisory processes.
Monitor cash sweeps, holdbacks, margin calls, and short positions; coordinate with trading and compliance teams to manage liquidity and avoid block trades or settlement fails.
Handle inbound client service requests by phone and email for transaction inquiries, portfolio clarifications, and basic financial planning questions, escalating complex issues to advisors or specialists as required.
Maintain operational KPIs and SLA commitments (turnaround times for transfers, trade confirmations, onboarding) and proactively identify process improvements to increase efficiency and reduce operational risk.
Participate in quarterly account reviews and annual plan updates by assembling performance histories, tax-loss harvesting opportunities, rebalancing proposals, and compliance-ready documentation.

Secondary Functions

Support ad-hoc data requests and exploratory data analysis.
Contribute to the organization's data strategy and roadmap.
Collaborate with business units to translate data needs into engineering requirements.
Participate in sprint planning and agile ceremonies within the data engineering team.
Assist in the development and maintenance of internal operations playbooks, SOPs, and training materials for consistent advisor support.
Serve as a backup for trade desk and operations during peak periods or staff absences to maintain service continuity.
Coordinate vendor and third-party relationships (custodians, fund providers, portfolio reporting vendors) for issue resolution and system integrations.
Participate in client events, webinar logistics, and meeting follow-up to enhance client engagement and relationship retention.

Required Skills & Competencies

Hard Skills (Technical)

Advanced Microsoft Excel: pivot tables, VLOOKUP/XLOOKUP, INDEX/MATCH, macros/basic VBA for reconciliations and reporting.
CRM proficiency (Salesforce, Redtail, Tamarac, Black Diamond): client data management, task automation, and workflow configuration.
Familiarity with custodial platforms and trading portals (Charles Schwab Advisor Center, Fidelity WealthCentral, Pershing, TD Ameritrade Institutional).
Experience with portfolio reporting and research tools (Morningstar Direct, FactSet, Bloomberg Terminal) and the ability to validate performance data.
Trade execution and order management experience including rebalancing tools and model implementation software.
Strong understanding of KYC/AML processes, regulatory requirements (SEC, FINRA), and suitability documentation.
Basic tax-aware trading and tax-loss harvesting knowledge to support after-tax rebalancing.
Experience with fee billing systems and custody billing reconciliation.
Document management and e-signature workflows (DocuSign, Laserfiche) for secure client onboarding.
Familiarity with account types (individual, joint, trust, IRA, SEP/SIMPLE, corporate) and specialty account processing.
Comfortable with financial planning software (e.g., eMoney, MoneyGuidePro) to support paraplanning tasks.
Data reconciliation, exception resolution, and familiarity with accounting/settlement cycles.

Soft Skills

Exceptional client service orientation with a polished, professional phone and written presence.
Strong attention to detail and accuracy under deadline pressure.
Excellent written communication and the ability to draft clear, client-facing summaries and meeting notes.
Time management and prioritization skills to handle competing advisor requests and operational deadlines.
Problem-solving mindset with the ability to investigate issues and coordinate cross-functional resolution.
Team player who collaborates effectively with advisors, operations, compliance, and custodial partners.
Discretion and confidentiality when handling sensitive client financial and personal information.
Adaptability to fast-paced change and ability to learn new platforms quickly.
Initiative and ownership mentality to drive process improvements and reduce manual work.
Customer empathy and persuasive interpersonal skills to manage expectations and deliver high-touch service.

Education & Experience

Educational Background

Minimum Education:

Bachelor's degree in Finance, Economics, Business Administration, Accounting, or related field; OR equivalent combination of education and relevant work experience.

Preferred Education:

Bachelor's degree with coursework in investments, financial planning, or accounting; certifications such as CFP® (candidate or certified), CFA (candidate), or FINRA registrations (Series 65/66/7) are a plus.

Relevant Fields of Study:

Finance
Economics
Business Administration
Accounting
Financial Planning

Experience Requirements

Typical Experience Range: 1–4 years in wealth management, financial advisory, brokerage, or investment operations roles.

Preferred:

3+ years supporting financial advisors or portfolio managers at an RIA, wirehouse, or independent broker-dealer.
Demonstrated experience with custodial platforms, trade execution, KYC/AML, and client onboarding processes.
Prior exposure to portfolio reporting tools and financial planning software; familiarity with compliance exam preparation and documentation preferred.