Associate Wealth Planner London (GB)

LGT Wealth Management UK LLP is a UK-based partnership, wholly owned by the private banking group LGT, which is in turn owned by the Princely Family of Liechtenstein. When we set up LGT Wealth Management in 2008, our aim was to offer a fresh approach to wealth management. Alongside the LLP we also have two other entities which focus on US and Jersey based clients. Our head office is based in London however we have a presence in Edinburgh, Jersey, Leeds, Birmingham and Bristol. The plan was simple: put our clients first by providing a transparent service, designed around what is right for each of them. By drawing together in-depth knowledge and experience from across the industry, we provide a flexible, bespoke service adapted to each of our clients’ needs.
Our mission is to create long-term value for all stakeholders. Our culture encourages individuals to generate, develop and implement ideas which will strengthen our business. Belonging, respect, integrity, conviction and entrepreneurship are our core values. As our brand recognition grows, we are fast becoming an employer of choice in our sector. We have over £29 billion in funds under management and circa 700 staff.

 Business Unit

The Wealth Planning team is responsible for the provision of comprehensive financial planning advice to individuals, companies, partnerships and trusts. We work with our clients to create a bespoke financial plan, considering the whole of the market in order to find the best financial planning solutions. We are involved in a broad range of activities including:

• Cash flow analysis
• Psychometric risk profiling
• Retirement planning
• Pension aggregation
• Income tax planning
• Inheritance tax planning
• Business planning
• Protection for death
• Protection for illness
• Savings
• Long term investments
• Offshore and international planning for non-domiciled and non-resident clients
• Venture Capital Trust, Enterprise Investment Scheme and Business Relief advice

Brief Role Objective:

Your primary role is to provide a full professional and technical support function to Wealth Planners. This would be in the following key areas:

• Writing of wealth planning report, research and technical assistance to Wealth Planners in the delivery of regulated advice to LGT Clients. (80% of responsibility)
• Certified Status – The support role would focus on providing limited technical and advisory services to clients of LGT focusing on areas such as; defined contribution pension transfers & retirement planning, insurance solutions such as investment bond, court of protection cases and comprehensive wealth planning to include utilising of cash flow modelling analysis etc. Specific areas where you are authorized to provide advice will be communicated by line manager (also see progression map for further guidance)

Writing of own wealth planning reports with administrative support from the wealth planning administration team. All advisory work to be introduced and all cases to be signed off by LGT Wealth Planners before delivery to client/investment managers. (20% of responsibility)

Key Responsibilities:

Preparation and maintenance of client files

• Collect and analyse financial information obtained from clients to determine strategies for meeting client’s financial objectives.
• Ensure that all compliance paperwork is recorded in line with procedure manual and FCA guidelines.
• Accurately record client information and documentation within the CRM system.
• Confirm client risk profile is determined and recorded.
• Discuss client objectives with Wealth Planner.
• Identify and obtain the information necessary to compile financial cash flow forecast (if required).

Build cash flow models (if required)

• Ensure that quantitative data used by the cash flow modelling tool is correct.
• Interpret qualitative data received from Wealth Planner and build scenarios using cash
• flow modelling tool.
• Compile net worth statement; income and expenditure statements and financial cash flow
• forecast and discuss with Wealth Planner.

Prepare advice and recommendations

• Prepare and transfer client information into client reports such as cash flow, retirement plans
• or financial plans.
• Provide technical support to Wealth Planners regarding advice specific queries.
• Record relevant technical research where it endorses advice.
• Undertake research both independently and with the Wealth Planner to identify suitable solutions
• to meet the client’s needs.
• Record relevant product research on file including up to date provider due diligence (if required).
• Prepare calculations for comparison purposes including (but not limited to) critical yield analysis
• and hurdle rates.
• Suggest solutions to Wealth Planner where appropriate and ensure advice and recommendations are suitable.
• Liaise with client’s investment manager, legal and tax advisers, etc (where applicable).
• Prepare recommendation reports to be discussed / signed off by Wealth Planner in a clear, concise, jargon free manner.
• Prepare accurate suitability letters in accordance with the agreed recommendations in a clear, concise, jargon free manner.
• Prepare and update report / letter templates and technical pages in line with changes in legislation.
• Ensure relevant checks and peer reviews are conducted prior to issuing of advice or recommendation.
• Review and analyse third party analysis reports

Oversee implementation of recommendations

• Ensure all compliance paperwork is in order before passing to administration team for new business submission.
• Oversee the completion of application / proposals forms prior to issuing to client. Oversee implementation of the agreed recommendations including discussion with Administration Team (where necessary).

Prepare for client reviews

• Act as main point of contact with providers / third parties through effective communication.
• Update cash flow models following review meetings.
• Provide all relevant research needed for annual reviews.

Administration

• Although the team has an Administration team who will be primarily responsible for liaising with third party suppliers; the onus is on the Assistant Wealth Planner to ensure the administration is completed in a time-efficient manner. This may involve: letter writing, chasing letters of authority and chasing information from third parties.
• Where appropriate, the Assistant Wealth Planner will be expected to undertake their own administration.

Certified Function (maximum 20% time allocation)

• Will be required to attain a certain number of successful client meeting as specified in KPIs (exact numbers to be determined  and communicated in appraisal). Typically most cases advising on will be transactional work but may include a small number of on-going clients inherited from existing wealth planners (target of no more than 10% of existing client book). Responsible for report writing/paraplanning for own wealth planning advisory cases.
• Providing wealth planning advice to LGT Wealth Planning Clients for cases introduced by Wealth Planners.  Setting and managing client/investment manager in relation to service delivery until completion of the wealth planning project.
• Working in a team with the professional support staff, ensure client instructions are executed in a timely manner and follow LGT Wealth Planning process standards
• Responsible for remaining competent and up to-date on legislation as a Certified individual through qualifications, attendance at conferences, training and maintenance of a Statement of Professional Standing

Employees will also be required to carry out any other work allocated to them by the Wealth Planner, compliance team or line manager.

Key Skills and Technical Requirements:

• RDR compliant qualifications relevant for advising on Retail Investment Products .
• Achieved CII Level 6 Advanced Diploma in Financial Planning or equivalent.

Other Skills and Attributes:

• Minimum 5 years’ experience working within a paraplanning or adviser support role.
• Excellent understanding of the financial planning process.
• Excellent understanding of the compliance requirements within a wealth planning team.
• Bespoke report writing skills.
• Methodological and practical approach to work and delivering advice.
• Experience using cash-flow software preferable.
• Experience of Avelo, Synaptics, Exchange.
• Good planning and organisational skills. Able to prioritise own workload.
• Able to manage expectations for both internal and external individuals.
• Keeping up to date with legislative changes.
• Honesty and integrity.
• Attention to detail.
• Excellent understanding of the financial planning and regulatory process is essential.
• Sound knowledge of legislative and market changes.