Bank of America Wealth Strategies Advisor in Palo Alto, California

Job Description:

Business Overview

U.S. Trust, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. Clients are served by teams of experienced advisors offering a range of financial products and services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration and family trust stewardship.

U.S. Trust is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage. U.S. Trust employs more than 4,100 professionals and maintains 135 offices in 33 states.

An Associate Wealth Strategist in Wealth Planning Solutions addresses a clients estate and other financial planning needs by performing a variety of analyses and then creating specific recommendations for the client based on those analyses. In most cases, the Associate Strategist will assist a Strategist. In some cases, especially for clients in the $3-10 million range, an Associate Strategist will have primary responsibility for a clients planning services and will work with an Analyst.

Description of Role

A Wealth Strategist in Wealth Planning Solutions (WPS) assists a client with estate and financial planning by performing a variety of analyses, creating specific recommendations for the client based on those analyses and integrating those recommendations into a holistic plan designed to achieve the clients goals. In addition, the Wealth Strategist plays a key role in driving increased revenues by partnering with Private Client Advisors/Private Client Managers/Trust Officers/Portfolio Managers on client/prospect calls, and with regional and market leadership to develop client-focused initiatives.

Specific Duties

  • Oversees the planning engagement from start to finish, including cash flow, gift and estate tax planning, wealth transfer and intergenerational planning and tax consulting.

  • Develops holistic, integrated planning strategies, with a focus on how U.S. Trust can implement those strategies for our clients

  • Incorporates a wide range of topics in analyses, such as investment portfolio, insurance, tax situation, retirement plans, philanthropic goals and executive compensation arrangements, as appropriate

  • Delegates effectively to Associate Wealth Strategists and Wealth Strategies Analysts

  • Gathers data, runs analyses and develops solutions based on analyses

  • Assists in developing and executing marketing and sales efforts, including speaking at seminars and writing articles for publication

  • Proactively assists the Regional Presidents and Market Executives in meeting their goals

  • Participates actively in developing new WPS capabilities, such as white papers and software tools

  • Keeps current with major developments in estate and financial planning

  • Mentors and/or supervises Associate Wealth Strategists and Wealth Strategy Analysts

Key Skills Requirements:

  • Gain client's respect and trust by listening to the client's goals and then building an effective and creative strategy for achieving those goals.

  • Advanced understanding of a wide range of subject matters including income taxation, stock options, insurance, investments and cash flow modeling.

  • Advanced understanding of the transfer tax system and core tax savings strategies such as annual gifts and GST trusts. Advanced understanding of charitable and non-charitable split interest trusts (CRTs, CLTS, GRATs, QPRTs).

  • Expand existing client relationships, assist advisors in new sales, and represent the firm in the marketplace.

  • Word, Excel and PowerPoint. Various WMC stochastic models. WealthMaster.

  • Delegate effectively to Associate Strategists and Analysts. Occasionally work on WMC-wide issues


  • Minimum eight years of planning-related work experience required

  • JD or CPA required

  • MST, MBA (or progress thereto) a plus

Bank of America will consider for employment qualified applicants with criminal histories consistent with San Francisco ordinance 17-14 and federal law applicable to Bank of America.

Posting Date : 01/09/2017

Location : US-CA-San Francisco, US-CA-Palo Alto

Travel : Yes, 10% of the time

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

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