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Key Responsibilities and Required Skills for Wealth Strategist

💰 $120,000 - $300,000

FinanceWealth ManagementAdvisoryPrivate Banking

🎯 Role Definition

A Wealth Strategist is a senior client-facing advisor who designs and implements comprehensive wealth plans for high-net-worth and ultra-high-net-worth individuals, families, and trust entities. This role blends deep technical expertise in investment management, tax and estate planning, retirement and cash-flow modeling, and alternative investments with exceptional relationship-building and advisory skills. The Wealth Strategist partners with internal specialists (tax, trust, lending, insurance, and investment teams) and external professionals (CPAs, estate attorneys, family office members) to deliver coordinated, outcome-focused financial strategies that protect, grow, and transfer wealth across generations.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Senior Financial Advisor / Private Banker with HNW client base
  • Portfolio Manager or Investment Analyst transitioning to client advisory
  • Wealth Associate or Family Office Associate with exposure to tax and estate matters

Advancement To:

  • Director of Wealth Strategy / Head of Wealth Advisory
  • Chief Investment Officer (Private Wealth) or Head of Multi-Family Office
  • Partner / Managing Director in a private wealth or family office firm

Lateral Moves:

  • Family Office Advisor or Family Office Principal
  • Trust Officer / Fiduciary Services Lead
  • Private Banking Relationship Manager

Core Responsibilities

Primary Functions

  • Develop and deliver holistic wealth plans tailored to HNW and UHNW clients, integrating investment strategy, tax planning, estate and trust planning, philanthropic planning, retirement income design, and intergenerational transfer strategies.
  • Lead client discovery and onboarding: conduct detailed financial fact-finding, goals identification, risk tolerance assessment, and current-state analysis to establish measurable objectives and deliverables.
  • Construct and implement strategic asset allocation and portfolio construction recommendations, including public equities, fixed income, alternatives (private equity, hedge funds, real assets), and bespoke positions aligned with client objectives and liquidity needs.
  • Coordinate integrated tax optimization strategies in partnership with CPAs and tax specialists—year-round tax planning, capital gains harvesting, tax-loss harvesting, tax-efficient asset location, and entity structuring.
  • Design and execute estate and trust strategies: trust funding, beneficiary design, generation-skipping transfer planning, family governance, and succession planning in coordination with estate attorneys and trust officers.
  • Model cash flow and retirement income scenarios using Monte Carlo and deterministic techniques to stress-test plans and quantify probability of success relative to client goals.
  • Analyze and recommend customized lending, credit and leverage solutions for liquidity, concentrated stock management, and tax-efficient financing, collaborating with private banking and lending teams.
  • Serve as lead relationship manager for assigned households, orchestrating multi-disciplinary teams, managing ongoing communications, and ensuring exceptional client service and retention.
  • Conduct due diligence and manager selection for third-party managers and alternative investments, preparing detailed investment memos, risk-return analysis, and monitoring ongoing performance and fees.
  • Prepare and present clear, persuasive client-facing materials and periodic performance reporting—quarterly reviews, annual plan updates, and ad hoc strategy briefings—tailored to sophisticated investor audiences.
  • Drive business development for the wealth practice: cultivate referrals, attend estate and family meetings, cultivate CPAs and attorneys, respond to RFPs, and onboard new clients while expanding existing relationships.
  • Manage complex concentrated equity strategies and executive compensation (RSUs, options, deferred compensation) with tax-efficient diversification plans and hedging when appropriate.
  • Design philanthropic strategies, including donor-advised funds, private foundations, and charitable remainder trusts, aligning charitable intent with tax and legacy planning objectives.
  • Oversee risk management and insurance needs analysis—life, disability, long-term care, and liability coverage—and collaborate with insurance specialists to implement recommended solutions.
  • Ensure fiduciary and regulatory compliance across client relationships: maintain KYC/AML documentation, suitability and risk disclosures, and adhere to firm policies and industry regulations.
  • Lead high-touch family governance and education initiatives: run family meetings, create governance charters, facilitate wealth transition discussions and financial literacy programs for heirs.
  • Provide integrated multi-jurisdictional wealth strategies for clients with cross-border exposure—tax treaties, foreign asset reporting, residency, and estate implications.
  • Mentor, train and coach junior advisors and associates; review client deliverables, model assumptions, and advisor communications to sustain quality and scale the practice.
  • Maintain market and macroeconomic research: translate market insights into actionable portfolio adjustments, scenario planning, and tactical positioning for clients.
  • Participate in investment committee meetings and contribute to firm-wide product and platform selection, technology adoption, and policy development.
  • Negotiate and monitor fee schedules, service agreements and custodial relationships to ensure client value and operational efficiency.
  • Manage transitional events (liquidity events, business sales, divorce, death) with sensitivity—coordinate the execution of immediate cash management, tax elections, estate settlements, and restructuring of long-term plans.
  • Prepare high-quality proposals, RFP responses and pitchbooks for prospective clients and institutional partners highlighting the firm’s wealth strategy methodology and outcomes.

Secondary Functions

  • Support cross-functional reporting and analytics efforts to continuously refine segmentation, pricing and service models for HNW and UHNW clients.
  • Contribute to thought leadership and marketing content: white papers, market commentaries, webinars and seminars that position the firm as a leader in wealth strategy.
  • Assist with technology and platform implementations (financial planning tools, CRM, performance reporting) to enhance client experience and advisor efficiency.
  • Participate in compliance reviews, training programs and audit responses to uphold regulatory, ethical and firm standards.
  • Help triage ad-hoc or complex client requests that require a rapid, coordinated response from tax, legal, lending, and operations teams.
  • Support succession planning for the advisory team and contribute to hiring and performance evaluation processes.

Required Skills & Competencies

Hard Skills (Technical)

  • Advanced financial planning and wealth design: cash flow modeling, retirement income planning, legacy transfer techniques, and Monte Carlo modeling.
  • Investment management competency: asset allocation, manager selection, portfolio construction, risk budgeting, and performance attribution.
  • Tax planning and optimization: capital gains strategies, entity structuring, tax-efficient distributions, and working knowledge of carry, AMT and state tax issues.
  • Estate and trust mechanics: trust drafting concepts, funding strategies, estate tax calculations, generation-skipping transfer planning, and fiduciary duties.
  • Alternative investments due diligence: private equity, hedge funds, real assets, structured products, and manager operational due diligence.
  • Proficiency with planning and portfolio tools: eMoney, MoneyGuidePro, Morningstar Office, Black Diamond, Envestnet, Excel (advanced modeling, VBA optional), and CRM systems (Salesforce, Tamarac).
  • Licensing & credentials: CFP®, CFA®, CPA, or ChFC preferred; securities registration such as Series 7/65/66 or equivalents, and life & health insurance licenses where required.
  • Lending and credit solutions: understanding of securities-backed lending, margin lending, mortgage and bespoke credit structures for HNW clients.
  • Regulatory and compliance knowledge: KYC/AML, suitability, fiduciary responsibilities, SEC and FINRA frameworks (as applicable).
  • Data-driven analysis: constructing decision-support materials, scenario analysis, and preparing investment committee memoranda.

Soft Skills

  • Exceptional client communication and storytelling: translate complex financial concepts into clear, actionable recommendations for sophisticated and family audiences.
  • Relationship management and emotional intelligence: build trust with clients, multi-generational families, and professional centers of influence.
  • Strategic thinking and problem solving: synthesize tax, legal, investment, and personal objectives into cohesive strategies.
  • High integrity, confidentiality and discretion in handling sensitive financial and personal information.
  • Project management and organization: manage complex deliverables, timelines, and multiple simultaneous client engagements.
  • Collaborative leadership: lead multi-disciplinary teams and influence without direct authority to drive outcomes.
  • Presentation and public speaking: deliver compelling proposals, family meetings, and firm events.
  • Negotiation and conflict resolution: mediate family dynamics and align stakeholder objectives during transitions.
  • Adaptability and continuous learning: keep pace with market, regulatory and product changes impacting wealth management.
  • Coaching and mentorship: develop junior advisors and contribute to a high-performing advisory team culture.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Finance, Economics, Accounting, Business, or related field.

Preferred Education:

  • Master’s degree (MS Finance, MBA) or advanced professional designations (CFP®, CFA®, CPA, ChFC).

Relevant Fields of Study:

  • Finance
  • Economics
  • Accounting
  • Wealth Management / Family Office Studies
  • Taxation / Estate Planning

Experience Requirements

Typical Experience Range: 6–15+ years of professional experience in wealth management, private banking, family office advisory, or investment management with progressive client-facing responsibility.

Preferred:

  • Demonstrated track record advising HNW/UHNW clients and managing household relationships with meaningful AUM (e.g., managing or influencing $50M+ in client assets).
  • Experience coordinating tax, trust, insurance and investment services across internal and external specialists.
  • Proven business development ability or originations experience and a referral network of CPAs, estate attorneys, and multi-family offices.
  • Hold relevant licenses and at least one recognized professional designation (CFP®, CFA®, ChFC, CPA, CIMA).
  • Prior exposure to alternative investments, private markets and multi-jurisdictional planning is strongly preferred.
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