Head of Wealth Planning

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Job Description

Responsibility for the FCA regulated and non-regulated UK Wealth Planning capability at the Bank on a restricted advice basis. This should include succession planning, asset protection, life insurance, and personal and family wealth restructuring.

Responsibility for the overall direction and management (policies and guidelines) of the established Wealth Planning function in the UK.

As a Wealth Planner, provide UK & international advice & information to the Bank's clients customised to reflect individual client investment objectives, tax constraints, and life insurance and pensions considerations.
Duties / Responsibilities

As Head of Wealth Planning UK:

• Be responsible for the UK wealth planning (WP) offering in coordination with Global Head of WP and Regional Head of Private Banking,
• co-ordinate and oversee activities of Wealth Planning specialists covering CROs and clients in the UK region.
• Work closely with the Global Head of Wealth Planning on the achievement, monitoring and regularly reporting of financial performance and business development efforts in the UK.
• Contribute to content for publications etc generated by Global Wealth Planning team.
• Organise and offer WP related training sessions to CROs.
• Coordinate and conduct awareness training/discussions with EFG CROs on relevant technical product/market updates relevant to the wealth planning space create a regular stream of technical updates for CROS, WP team and clients.
• Lead the wealth planning product development effort.
• Ensure that the UK WP team draws upon their well-established networks of external specialists and provides clients with the best possible solutions to meet their needs ensuring compliance with the complex regulatory requirements.
• Identify new business opportunities during client interactions or reviews and contribute to net new assets (NNAs) acquisitions and/or product cross-selling for the Bank.
• Actively manage performance of UK WP tea.
• Develop and maintain strong network of external advisors (Lawyers, Accountants, etc.), Insurance brokers and other counterparties.

As Wealth Planner:

• Focus on UK-centric wealth advice which can include UK resident clients, UK resident non domiciled clients, and international clients with a banking relationship in the UK.
• Work with CROs and clients (&prospects) to identify opportunities regarding client wealth planning needs and objectives.
• Deliver FCA regulated wealth planning advice in the areas of estate planning, life insurance, pensions, tax efficient investments and tax efficient wrappers.
• Be the EFG leading global specialist in the area of UK WP planning topics with a focus on resident non domiciled clients.
• Work with EFG Wealth Solutions (trustees) to facilitate the establishment of EFG trust structures for clients.
• Conduct in-depth reviews of the Bank clients' financial circumstances, current provision and future aims.
• Analyse information and prepare plans best suited to individual clients' requirements.
• Complete risk analysis.
• Research the marketplace including Bank's and the Group offering and provide clients with information on new and existing products and services.
• Design financial strategies.
• Assist clients to make informed decisions.
• Research information from various sources, including providers of financial products.
• Review and respond to clients' changing needs and financial circumstances.
• Negotiate with product suppliers for the best possible rates.
• Produce financial reports.
• Contact clients with news of new financial products or changes to legislation that may affect their savings and investments.
• Meet the regulatory aspects of the role, e.g., requirements for disclosure, costs of the services provided and also the advised products.

Person Specification
Required knowledge, skills and experience:

• Seasoned Wealth Planner with strong UK res dom experience and market knowledge.
• Familiar with the UK legal and tax systems as well as pensions and life insurance markets and, ideally, knowledge of one or more additional jurisdictions.
• Ideally, international experience or at least international outlook on business.
• Demonstrable experience of working with U/HNW clients and providing structuring solutions for private individuals.

Required qualifications:

• More than 10 years of experience with demonstrated track record of managing wealth planning business ideally in a private bank/trust company/ insurance brokerage/law or accounting firm.
• University degree in Law or Finance related discipline; holding additional qualifications linked to the area of interest (e.g., TEP, LL.M. in tax).

Relevant professional qualifications:

• Level 6 Advanced Diploma in Financial Planning or Chartered Financial Planner status.
• Up-to-date Statement of Professional Standing (SPS)
• Chartered tax advisor or qualified lawyer with private client background
• STEP member

Required competencies:

• Strong analytical, problem-solving and synthesising skills relating to wealth planning, tax and estate planning, accountancy, insurance, banking and investment.
• Astute business sense and can identify new business opportunities during client interactions or reviews and can contribute to net new assets (NNAs) acquisitions and/or product cross-selling for the Bank.
• Excellent communication skills and sales capabilities with the ability to express things simply and directly while maintaining a focused and controlled discussion.
• Strong managerial credentials with a demonstrated proficiency for leadership, motivation, coaching, communication, planning and successful implementation.