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Vice President, Institutional Relationship Manager

Company: Fidelity Investments
Location: San Francisco
Posted on: September 18, 2023

Job Description:

Job Description:
The Vice President, Institutional Relationship Manager (IRM) will be responsible for managing a number of complex institutional client relationships with financial advisory firms (typically MFOs) and their advisors serving Ultra High Net Worth (UHNW) client and families on behalf of Fidelity Charitable. The IRM may also work with national law and CPA firms serving a similar client base. By engaging strategically with your clients and by using the breadth of Fidelity Charitable and other Fidelity Investments connection points, you will be responsible for growing these relationships and ensuring high client happiness levels. The position will report to the VP Strategic Accounts.
This role is a critical member of the Strategic Accounts team. The IRM will have primary accountability for the development and execution of strategic plans for significant institutional client relationships. This individual will implement these client strategies to effectively expand the Fidelity Charitable relationship with the firm, build a network of productive, engaged relationships with key Centers of Influence (COIs) across the firms, and drive growth in Fidelity Charitable Giving accounts, charitable contributions, and the number of \u201Creferring advisors\u201D within these firms.The Team
Fidelity Charitable is a 501(c)(3) public charity. We help donors improve their generosity through our donor-advised fund, called the Giving Account. Established in 1991, Fidelity Charitable is the nation s top grantmaker, distributing $7.3 billion to charities in 2019. As the largest grantmaker in America, Fidelity Charitable\u00AE helps make charitable giving accessible, simple, and effective.The Giving Account streamlines the process of strategic giving for donors, allowing them to contribute many types of assets and plan their giving more systematically, helping donors give more to the causes they care about. Fidelity Charitable\u00AE accepts a broad range of financial assets, from cash and checks to stocks and even non-publicly traded assets like private business interests.
The Expertise You Have

  • Bachelor s degree required. MBA preferred
  • 12-15+ years of financial services industry experience direct RIA/MFO industry expertise a must
  • 12-15+ years of direct client and/or financial services experience in Sales or Relationship Management function
  • Experience in wealth management and/or investment experience serving the needs of ultra-high net worth or registered investment advisors (RIAs) which focus on the ultra-high net worth ($25 million plus liquid net worth)
    The\u00A0Skills You Bring
    • Ability to successfully build and manage relationships with demanding and complex Advisors and Firm Leaders and COIs as well as ancillary advisors/firm partners/influencers (CPAs, Attorneys, PE Investment Firms, Philanthropic Advisors) in a highly competitive environment.
    • Build trust and credibility with C-level executives.
    • Ability to develop and execute a Strategic Account Plan in collaboration with clients
    • Working initially in the MFO arena, the Vice President, IRM will partner with existing and new client relationships with overall responsibility for creating and maintaining these key relationships. The Relationship Manager will be accountable for increasing the number of referring advisors, penetration rates with existing referring advisors, new accounts, new contributions, additional contributions to existing accounts, client satisfaction and increasing overall economic impact of each relationship.
    • Interest in the philanthropic sector and the role of financial advisors.
    • Complex Asset understanding including private investments, control and restricted stock and equity comp.
    • Ability to be successful with clients and prospects in face-to-face meetings, phone-based relationships and via email.
    • Ability to balance a high level of expectation for flawless service and personalized, rapid support with attractive economics for Fidelity Charitable and the need to enable Fidelity Charitable and cross-Fidelity partners to successfully execute their roles.
    • Financial business analysis/consulting and client brokerage operations experience a plus
    • Outstanding communicator with outgoing approach to proactively create client interactions
    • Strong multi-tasking, project management and organizational skills with ability manage and follow up
    • Interest in and an understanding of financial markets, and solid knowledge of both traditional and alternative asset classes.
    • Outstanding communications and listening skills and demonstrated skills in client profiling
    • Ability to build strong internal relationships to influence outcomes with clients
    • Ability to lead, empower and influence a wide spectrum of people internally and externally
    • Ability to work independently including decision making think and act like a CEO and/or business owner
    • Positive, driven, energetic, and excited by challenge; able to roll up his/her sleeves to get the job done and to motivate others to operate similarly
      The\u00A0Value You Deliver
      Strategic relationship planning, development, and leadership
      • Own and manage Strategic Account Plans for client relationships with significant regional or national distribution networks
      • Develop and manage a growth strategy for the achievement of contribution, new accounts, and additional referring advisor/firm targets
      • Demonstrate the highest levels of engagement with the team and commitment to service
      • Define and implement creative solutions to segment clients / firms, develop engagement strategies, and work closely with engage clients in partnership with Fidelity Charitable and cross-Fidelity partners
      • Provide overall client accountability and book management of a complex portfolio of clients. Lead the relationship management team comprised of a Philanthropic Strategist, an Investment Analyst, Complex Asset Attorney, a Client Service Manager (PSAM) and a Reporting Services Manager with a common goal of overall client satisfaction
      • Develop key strategic relationships with the principal decision makers of each client relationship
      • Provide proactive consultations to senior individuals within each relationship by clearly prioritizing a strategic plan and objectives. Develop true partnerships with the client by helping them successfully manage and build their business while enhancing the business relationship
      • Conduct comprehensive quarterly and/or annual relationship reviews. Fully understand and address needs by working with the client service managers on resolutions for operational issues, including customer concerns
      • Grow annual grantmaking and contributions and complex asset donations as viewed at the firm, advisor and account level
      • Work with the investment team to ensure execution of complex charitable investment and grantmaking and philanthropic consulting solutions
      • Build and maintain a strong ability to document client activities, business opportunities and all communications with clients in the CRM on a timely basis
      • Develop referrals from existing client relationships.
        Client Outreach, Fundraising, and Opportunity Management
        • Work with prioritized firms and advisors to educate on charitable giving and encourage incorporation of charitable giving into financial planning
        • Develop pipeline of opportunities and manage through account opening and funding.
        • Maintain proactive outreach activity to target firm COIs and advisors.
        • Increase total number of referring firms and advisors, new accounts, and total contribution results.
        • Meet or exceed stated firm and advisor goals.
          Internal Partnerships
          • Build productive relationships with Fidelity Family Office Services MFO Relationship Managers
          • Collaborate with FC marketing to build engagement plan for each segment of MFO/prioritized clients.
          • Develop strong partnership with FC business partners Program and Investments, Service Delivery, Finance, Risk and Compliance, and Technology.
            Business Management
            • Drive advisors and firms to FC online tool adoption.
            • Monitor operational issues and collaborate with Service Delivery partners on resolution.
            • Measure and assess activities and results against agreed upon goals.
            • Revise plans as needed based on findings and found opportunities / challenges.
              Industry Knowledge
              • Stay knowledgeable of changes and trends in the wealthy family marketplace from the findings from our client activities and industry research. Be an active contributor our collective intelligence to better serve our clients and make recommendations for product/service enhancements.
              • Stay informed of changes in the client s business, competition, industry, and marketplace, through proactive solicitation and/or research, in order to inform and drive client satisfaction activities within book of business.
              • Monitor charitable giving trends and find opportunities to communicate these to client firms.
              • Develop industry relationship networks to drive awareness and referrals, including attorneys, CPAs, and VC/PE professionals
                How Your Work Impacts the Organization
                • The Relationship Manager is expected to be a leader in the culture of Fidelity Charitable
                • This RM will need to exude Fidelity and FFOS and Fidelity Charitable values. This includes a spirit of collaboration and partnership with all associates within Fidelity Charitable and FFOS and across the Fidelity organization.
                • Clients will be located primarily on the East and West Coasts and will have a national footprint.
                • Ideally this RM will be based in San Francisco / CA. Other locations will also be considered.
                  • The VP, IRM should expect 25% travel, to a maximum of 40-50%. Travel is based on critical need for in-person engagement and is dependent on the trajectory of Fidelity and client policies regarding in-person meetings.Certifications:Company OverviewFidelity Investments is a privately held company with a mission to strengthen the financial well-being of our clients. We help people invest and plan for their future. We assist companies and non-profit organizations in delivering benefits to their employees. And we provide institutions and independent advisors with investment and technology solutions to help invest their own clients' money.Join UsAt Fidelity, you'll find endless opportunities to build a meaningful career that positively impacts peoples' lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. Honored with a , we have been recognized by our employees as a Best Place to Work in 2022. And you don't need a finance background to succeed at Fidelity-we offer a range of opportunities for learning so you can build the career you've always imagined.Many of our associates are continuing to work remotely temporarily due to COVID-19. When Fidelity employees eventually return to the office, our goal is for most people to work flexibly in a way that balances both personal and business needs with time onsite and offsite through what we're calling \u0022.\u0022We invite you to Find Your Fidelity at .Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Leave of Absence/Accommodation Team by sending an email to -, or by calling 800-835-5099, prompt 2, option 3.

Keywords: Fidelity Investments, San Francisco , Vice President, Institutional Relationship Manager, Executive , San Francisco, California

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