Position Description

Transcription

1 Position Summary POSITION REPORTS TO DIRECT REPORTS REMUNERATION Financial Planner Business Unit Manager Nil Adviser Tiered Remuneration Structure OVERVIEW A Financial Planner's role is to demonstrate Invest Blue s point of difference by understanding our clients needs, challenging them to articulate their goals, informing them of considered strategies, empowering them to take action and supporting them to achieve their goals, and reviewing their situation to help keep them on track. PURPOSE MAIN DUTIES SECONDARY DUTIES To deliver quality advice to customers that is valued and meets all licensee and relevant legislative requirements To generate upfront and ongoing revenue through new and ongoing client business to Invest Blue Identify new business opportunities whilst ensuring existing clients receive continued support and quality advice Provide a high quality customer experience to clients by actively understanding their needs and recommend appropriate strategies to allow the client to achieve their goals and objectives Build and maintain a portfolio of clients sourced from within Invest Blue and the planners own natural markets, strategic alliances and referral sources Provide relevant and quality advice that accurately assesses client s needs, objectives and risk tolerance and formulate an effective financial plan strategy and/or risk management strategy Deliver Invest Blue s client experience through adherence to defined workflow and process Utilisation of Invest Blue client management software to efficiently and compliantly deliver advice, ensuring client information is correct and relevant to advice sought and provided Manage and implement sales plan to meet defined revenue targets for new business and ongoing revenue, and performance Key Performance Indicators (KPI s) In conjunction with internal resources, conduct presentations and marketing activities with existing and potential clients alongside Invest Blue advisers, including seminars etc with the intent of attracting new clients to the business Deliver ongoing service to clients, including regular reviews and communication aligned to Invest Blue s value proposition Manage the ongoing client relationship in-line with the sales and service offering, to achieve the desired retention levels for each segment Meet the compliance requirements and the relevant legislation, and comply with the company standard documents, policies and procedures including inputting into Invest Blue s client relationship software and programs Ensure all client contacts adheres to appropriate compliance and professional standards, policies and regulatory requirements Quality assurance of financial plan requests and financial plans as required. As required, participate in the development and implementation of business improvement initiatives and Invest Blue projects to drive improvements to productivity, service and quality standards Maintain up to date technical/professional knowledge and reference materials Page 1 of 7

2 Incumbent Profile COMPETENCY Client Focus Adapting & Problem Solving Organising & Executing Leading & Deciding Industry Knowledge & Risk Awareness Innovating & Influencing BEHAVIOURAL DESCRIPTOR Actively listens and ask the right questions to elicit client's perspectives, needs and objectives Anticipates client needs and recognises the importance of using targeted language and strategies in response Sets high standards for quality, timeliness and positioning of servicing client requests Acts with a commercial focus to prioritise the highest and best use of time / resources Resolves conflicting priorities to accomplish work on time, despite pressures and challenges Demonstrates a commitment and willingness to learn Thinks laterally about own work, considering a variety of information and different ways to approach problems Adapts own behaviour to meet the needs of different people and circumstances Prioritises and manages workload effectively Takes accountability and ownership of tasks and is proactive in the achievement of results Ensures commitments to clients are met Ensures client deliverables are delivered in line with agreed budgets Pushes self hard when faced with difficult targets, putting in extra effort when required Takes calculated risks rather than missing opportunities when responding to client needs Recognises when a decision has to be made and acts in a considered and timely manner Focuses on the bigger picture, ensuring all deliverables are appropriate and in line with Invest Blue's brand Simplifies complex information and strategies into language clients understand Recognises key industry trends and translate them into commercial opportunities with clients Displays financial responsibility and demonstrates an understanding of commercial issues and risk management Keeps abreast of technological, economic and political changes and considers the implications in service delivery Produces new ideas, approaches or insights to execute entrepreneurial advice opportunities Uses supporting data and facts in a clear and constructive manner Articulates features and benefits of ideas or approaches, and handles objections convincingly Gains clear agreement and commitment from others by persuading, convincing and negotiating KNOWLEDGE & SKILLS Financial Technical knowledge related to financial planning (desirable, dependent upon level of entry Tiers 1-5) Knowledge of regulatory and legislative obligations (e.g., contracts) Organisational Knowledge Products and services Invest Blue business systems and operations (e.g., IT, HR, database reporting) Invest Blue structure and internal stakeholders Invest Blue history and culture External partners and providers General understanding of business and office management/coordination Page 2 of 7

3 EXPERIENCE Experience providing Financial Planning advice to clients, dependent upon level of entry (Tiers 1-5) Client facing customer service / business development experience Demonstrated ability to build and maintain effective relationships with a variety of stakeholders Demonstrated ability to plan, prioritise and schedule work targets / activities with minimal supervision Proven ability to work towards and meet agreed targets Experience with using financial planning software (e.g., Openwealth) desirable, but not mandatory Experience in AMP FP advice framework, compliance and products desirable, but not mandatory QUALIFICATIONS ADFS (FP) or ADFP qualified Tertiary qualifications in business discipline or related field Tertiary qualifications desirable in business discipline or related field Current CFP or must be willing to become CFP accredited Current non-restricted driver s license for the relevant state or territory Standard background checks including but not excluded to criminal history, bankruptcy, ASIC PERSONAL ATTRIBUTES Adaptable Innovative Socially confident Achievement oriented Competitive (with self or others) Motivated by: Financial incentive Achieving results / success Connecting with others Able to cope with: Operating within a technical / risk-focused environment Changing priorities Adapting approach to different individuals and needs Page 3 of 7

4 Operational Summary Minimum Duties REQUIRED EMPLOYMENT STANDARDS* Delivery of all primary and secondary duties outlined in this Position Description to a satisfactory standard Our Shareholders (Quantitative) Financial: Tiers 1-5: Minimum received upfront according to Adviser Tiered Remuneration Structure Our Clients (Quantitative) Compliance: Meet AMPFP compliance requirements Process: Adherence to identified key client experience and compliance steps HOW MEASURED Management and Own assessment Financial Reporting Maintenance of AR status & Competent or Passing score in Audit File audits * Required Employment Standards: Required employment standards are minimum performance results that must be achieved to maintain employment in your role. Results are measured over the budget period, and progress towards these targets is discussed monthly. Should you not achieve the minimum results required for your role within the budget period, the outstanding result still to be achieved will be carried forward to the next budget period, increasing your minimum target for the period. This will form the new basis for your required employment standards. If a shortfall occurs in consecutive budget periods, courses of action may include (in no particular order): one on one intensive monthly KPI management regression to a previous tier reduction in base wage to the legislative award minimum until the shortfall is recovered dismissal Page 4 of 7

5 REPORTING STRUCTURE AND KEY COMMUNICATIONS Direct Report: Business Unit Manager This position works closely with: Client Support Manager Financial Advisers Business Unit Manager Managing Directors Practice Management team External Paraplanners Virtual Assistants Internal & External Clients Product Providers RESOURCES PROVIDED Suitable office/working space, IT and HR services Staff value program and employee share scheme Regular reviews of performance Flexible working conditions Educational support Defined and automated financial planning process with comprehensive tools to deliver a consistent client experience CHALLENGES TO THIS POSTION Client satisfaction every client has a different set of needs and wants, which requires a flexible approach to business Keeping a consistent flow of clients coming into the business to ensure individual and team financial budgets/targets are met Contributing to the development of complex financial strategies where every client has differing goals and background making each strategy different Keeping up to date and compliant with changing legislation and awareness of how this affects our clients Keeping up to date with new and changing products to ensure we are offering the best strategy available for our clients Continually contributing to systems improvements to ensure a more effective and efficient service Moving workflow through the Invest Blue process in a timely manner Page 5 of 7

6 OPERATIONAL COMPLIANCE Ensure sound operational knowledge of legislative, regulatory and Code of Conduct requirements including (but not limited to) Financial Services Reform Act, FOFA, Privacy Act, Workplace Health & Safety, Complaints Handling and Dispute Resolution Ensure a sound knowledge of Invest Blue s policies, procedures, products, services and systems to comply within the authorities and restrictions in relation to the duties of your role Ensure adherence to confidentiality of information, conforming to the requirements of Invest Blue and the Privacy Act when dealing with/accessing client details Adherence to AMPFP Professional Standards Manual (PSM) Ensure compliance with Invest Blue s policies surrounding intellectual capital Whilst performing duties on behalf of Invest Blue staff shall: take reasonable care for your own health and safety; take reasonable care that you do not adversely affect the health and safety of other persons; follow the procedural requirements of the Invest Blue WHS System; participate in WHS consultation via VOP meetings; report any hazards as soon as you notice them; report all incidents, whether or not someone was injured; report any incidents of bullying and/or harassment in the workplace; attend WHS training as required; participate in WHS activities such as inspections, investigations, evacuation drills, WHS meetings and risk assessments as required from time to time; report any physical or psychological conditions that may affect your ability to safely perform the duties that form part of your role; assist in the return to work process for you or any work colleagues following injury; and Do not misuse or interfere with anything which is provided in the interests of workplace health and safety. PROFESSIONAL DEVELOPMENT Ongoing self-development in relation to the position is a key requirement. Specifically this will be demonstrated by: A willingness and capacity to become better equipped to perform job responsibilities by transferring new knowledge and skills gained through training to the workplace Ensuring the successful completion of individual training and development activities to update knowledge and skills relating to legislative, policy, systems, procedure, product and service requirements inherent in current duties. Page 6 of 7

7 Acceptance of Responsibilities I have read the requirements and responsibilities outlined in this position description and agree to meet and have my performance monitored and evaluated in relation to my performance in the role as detailed throughout this document: ACCEPTED & AGREED Signed Name Position Date Financial Planner MANAGEMENT SIGN OFF Signed Name Position Date Business Unit Manager Page 7 of 7