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Key Responsibilities and Required Skills for Registered Wealth Management Client Associate

💰 $60,000 - $95,000

Wealth ManagementClient ServicesFinancial ServicesRegisteredCompliance

🎯 Role Definition

The Registered Wealth Management Client Associate provides trusted, high-touch operational and client support to financial advisors and wealth management teams. This role is responsible for account opening and maintenance, trade and settlement support, regulatory compliance (KYC/AML), delivering client‑facing reporting and statements, and maintaining advisor workflow through custodial platforms and CRM tools. The ideal candidate is licensed (Series 7/63 or 7/66 and SIE), detail-oriented, and excels at translating complex investment and operational processes into exceptional client experiences.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Client Service Associate / Client Service Representative (brokerage or advisory)
  • Operations Analyst / Trade Support Analyst
  • Paraplanner or Junior Client Relationship Associate

Advancement To:

  • Senior Wealth Management Client Associate / Lead Client Associate
  • Registered Client Service Manager / Operations Supervisor
  • Financial Advisor / Associate Advisor
  • Portfolio Operations Analyst / Platform Specialist

Lateral Moves:

  • Paraplanner / Financial Planning Associate
  • Compliance Analyst (KYC/AML focus)
  • Custody/Operations Specialist (clearing firm or custodian-side)

Core Responsibilities

Primary Functions

  • Serve as the primary operational and client-service contact for a book of high-net-worth and UHNW households, ensuring timely responses to calls, emails, and secure messages while maintaining a high level of professionalism and confidentiality.
  • Execute and monitor client transactions across brokerage and advisory platforms including trade entry, trade allocation, settlement instructions, and trade exceptions to ensure accurate and timely execution and delivery.
  • Open, maintain, and review complex account types (individual, joint, trust, IRA, rollover IRAs, custodial, corporate) ensuring account documentation, signatures, and disclosures meet firm and custodian requirements.
  • Lead new account and onboarding processes: coordinate paperwork, verify client identity (KYC), perform AML screening, obtain tax documentation (W-9/W-8), and liaise with custodians (Schwab, Fidelity, Pershing) to accelerate client acceptance and funding.
  • Collaborate with advisors to prepare for client meetings: compile performance reports, portfolio holdings, fee / billing summaries, model portfolios, trade blotters, and meeting agendas with clear, polished materials.
  • Maintain advisor CRM data hygiene (Salesforce, Redtail, Tamarac) by logging activities, updating household information, tracking tasks, and supporting pipeline management to enhance client retention and prospecting efforts.
  • Prepare and reconcile monthly and quarterly client statements, performance reports, and billing statements; investigate and resolve any discrepancies promptly with custodians and internal teams.
  • Support fee calculation and advisory billing processes, including fee schedules, prorations, billing disputes, and invoice generation for AUM and advisory fee models.
  • Coordinate complex transfers and account consolidations (ACATs, IRA transfers, Trustee transfers), including resolving transfer holds, signature requirements, and coordination with receiving/ delivering firms.
  • Monitor and manage cash positions, wire requests, check requests, ACH transfers, and margin maintenance; ensure compliance with margin requirements and advisor instructions.
  • Administer tax-related requests and reporting: process 1099/1099-R inquiries, prepare necessary paperwork for distributions, and coordinate with tax professionals for client-specific tax documents.
  • Support trade compliance and supervisory reviews by preparing trade documentation, surveillance exception packages, and documenting rationale for discretionary and directed trades.
  • Conduct periodic account reviews for completeness and regulatory compliance, including review of account owners, beneficiaries, fee authorizations, and suitability/Know Your Customer (KYC) refreshes.
  • Triage and resolve client escalations related to account maintenance, trade processing, and custodial discrepancies, partnering with operations, compliance, and custody teams to deliver timely resolutions.
  • Assist with model portfolio implementation, rebalancing activities, and tax-sensitive trade routing including tax-loss harvesting and wash sale avoidance processes in coordination with portfolio managers.
  • Manage inbound and outbound transfer of assets, mutual fund exchanges, and corporate actions communications ensuring client notifications and elections are processed accurately.
  • Support advisor-driven client service initiatives such as onboarding projects, client events, and new product rollouts by coordinating logistics, client communication, and follow-up tasks.
  • Maintain and renew required FINRA state and firm registrations (Series 7, Series 63/66, SIE) and continuing education; ensure personal licensing is current and compliant with firm policies.
  • Generate and maintain operational documentation and process checklists to standardize workflows, minimize operational risk, and support team scaling and cross-training.
  • Participate in periodic audits, supervisory spot checks, and regulatory examinations by collecting and preparing requested client and trade documentation and responding to inquiries in a timely fashion.
  • Use reporting tools and custodial portals to monitor account exception reports, unsettled trades, failed trades, and margin calls and take corrective action to resolve issues.
  • Assist in fee disputes, arbitration documentation, and client complaint handling by compiling case files, timelines, and relevant communications for the compliance team.
  • Train and mentor junior client associates, interns, and support staff on standard operating procedures, client communication best practices, and platform usage to strengthen team competency and continuity.
  • Act as the liaison between advisors, product specialists, custodians, and internal operations teams to ensure seamless delivery of wealth management services and escalation handling.
  • Proactively identify process improvement opportunities and collaborate with operations and technology teams to automate repetitive tasks, reduce manual errors, and improve turnaround times.

Secondary Functions

  • Prepare ad-hoc client and management reports, data pulls, and analytics to support business development and strategic initiatives.
  • Support CRM and workflow optimization projects, including data migration, report building, and template standardization.
  • Participate in internal training sessions, cross-departmental initiatives, and product education to stay current on investment products and platform enhancements.
  • Assist compliance and supervisory functions with ongoing training, policy updates, and the creation of client-facing disclosure templates.
  • Support business continuity planning and operational resilience activities, including periodic disaster recovery tests and backup support.

Required Skills & Competencies

Hard Skills (Technical)

  • FINRA Series 7 and Series 63 or 66 required; SIE strongly preferred. State insurance licenses (life/health) and CFP/CFA progress a plus.
  • Hands-on experience with major custodial platforms: Schwab Institutional, Fidelity Institutional, Pershing/BNY Mellon, Fidelity NetX, Schwab Advisor Center.
  • Strong trade support and operations knowledge: trade entry, allocations, settlements, trade exceptions, ACATs, mutual fund exchanges, corporate actions, and margin management.
  • Proficient in CRM systems (Salesforce, Redtail, Wealthbox) for activity logging, pipeline management, and client data governance.
  • Experience with advisory platforms and portfolio accounting/reporting tools (Envestnet, Tamarac, Orion, Addepar) and fee billing systems.
  • Solid working knowledge of KYC/AML procedures, OFAC screening, CIP rules, and regulator-driven documentation requirements.
  • Advanced Excel skills (pivot tables, VLOOKUP/XLOOKUP, basic macros) and ability to build reconciliations, billing models, and reporting templates.
  • Familiarity with account opening document generation tools, e-signature workflows (DocuSign), and secure client communication channels (ShareFile, RightSignature).
  • Experience preparing client performance reports, composite reporting, and handling third-party consolidated statement issues.
  • Strong documentation skills and experience preparing materials for audits, regulatory examinations, and supervisory reviews.

Soft Skills

  • Client-first mindset with a professional demeanor and the ability to build rapport with high-net-worth clients and multi-generational households.
  • Exceptional attention to detail and a process-oriented approach to minimize operational risk and errors.
  • Clear written and verbal communication skills for drafting client correspondence, fee invoices, and internal escalations.
  • Strong organizational skills with the ability to manage competing priorities across multiple advisors and deadlines.
  • Problem-solving orientation with a track record of identifying root causes and implementing sustainable solutions.
  • Team player who collaborates effectively across advisor teams, operations, compliance, and custodians.
  • High integrity and discretion when handling confidential financial information.
  • Resilient under pressure and capable of maintaining service levels during market volatility or peak operational cycles.
  • Continuous learner mindset with the ability to adopt new platforms and adapt to regulatory changes.
  • Coaching and mentoring skills to train junior staff and improve team knowledge.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Finance, Economics, Business Administration, Accounting, or related field; or equivalent professional experience.

Preferred Education:

  • Bachelor’s degree with coursework or certification in financial planning, investments, or compliance.
  • Advanced credentials (CFP, CFA level I/II, or equivalent) preferred but not required.

Relevant Fields of Study:

  • Finance
  • Economics
  • Business Administration
  • Accounting
  • Financial Planning

Experience Requirements

Typical Experience Range:

  • 2–5 years of client service or operations experience in wealth management, brokerage, or investment advisory supporting financial advisors.

Preferred:

  • 3–7 years supporting high-net-worth advisor teams with custodial platform expertise, licensing (Series 7 + 63/66), and demonstrated trade/operations proficiency.
  • Prior experience in a registered role at a bank, broker-dealer, RIA, or family office.
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