What are the responsibilities and job description for the Managing Director- 401K Relationship Manager position at Fidelity Investments?
Job Description
The Managing Director (MD) is entrusted with a book of business of defined contribution plans aligned to key Core Market advisor relationships. The books of business will vary based on each advisor, but typically comprise of 60 - 65 plan sponsor relationships and 5 – 7 advisor relationships. Plan sizes supported range from $10m plans to $60M in assets under administration. In this role you will develop positive relationships with institutional clients and build internal working relationships with Fidelity personnel in support of service delivery.
The Expertise We’re Looking For
The Managing Director is the primary contact for their client and works in a team structure which is collectively responsible for leading, educating, resolving client issues, establishing relationships and meeting the needs of both Plan Sponsors and Advisors. Travel is required, approximately 25% of the time.
The Skills You Bring
In this position you assume a consultative role to acquire a clear understanding of the business needs of relevant issues. You will ensure client satisfaction by seeking feedback and anticipate issues and/or concerns to proactively provide solutions.
Certifications
Series 07 - FINRA, Series 63 - FINRA
Category
Relationship Management
Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite every other week (all business days, M-F) in a Fidelity office.
The Managing Director (MD) is entrusted with a book of business of defined contribution plans aligned to key Core Market advisor relationships. The books of business will vary based on each advisor, but typically comprise of 60 - 65 plan sponsor relationships and 5 – 7 advisor relationships. Plan sizes supported range from $10m plans to $60M in assets under administration. In this role you will develop positive relationships with institutional clients and build internal working relationships with Fidelity personnel in support of service delivery.
The Expertise We’re Looking For
- We require associates in this role to acquire a Series 7 and 63 within the first 3-6 months of acquiring the position.
- Requires 3 – 5 years of Relationship Management or Client Service experience preferred; preferably within the Retirement/401K industry.
The Managing Director is the primary contact for their client and works in a team structure which is collectively responsible for leading, educating, resolving client issues, establishing relationships and meeting the needs of both Plan Sponsors and Advisors. Travel is required, approximately 25% of the time.
The Skills You Bring
- World class customer service to every one of your clients.
- Record keeping and defined contribution administration experience.
- Problem-solving skills.
- Effective communication and presentation skills.
- The ability to consult with your clients to deliver effective solutions to their needs while maintaining strong, positive relationships with key decision makers.
- Setting the strategic direction for the plan and demonstrates ultimate ownership and accountability for the relationship. Acts as the client’s trusted advisor in partnership with the Plan’s Advisor.
- Partnering with the Plan’s Advisor to understand their specific value proposition to the Plan Sponsor.
- Providing additional support to the advisor’s book of business, including participating in advisor book of business reviews (sometimes in person), identifying and implementing plan design opportunities across the advisor’s book, and you will be expected to participate in quarterly advisor updates and training activities, both over electronic channels (i.e. Zoom) and in person.
- Differentiating Fidelity's benefits approach against competitive benefit solutions and offering and implementing Fidelity solutions to address client needs.
- Facilitating discussions with clients regarding legal, regulatory and design issues across the plan.
- Consulting with clients and their advisors on qualified and potentially nonqualified plan design alternatives.
- Coordinating internal resources to provide analysis and recommendations to clients on design alternatives.
- Analyzing investment architecture and providing appropriate alternatives as well as actively facilitating Investment Review Meetings in partnership with the Plan’s Advisor.
- Assisting Plan Sponsors with plan corrections, resolving operational defects, PSW navigation, providing plan and participant literature, and contribution inquiries. This includes problem resolution on behalf of clients to produce a satisfactory outcome.
- Building and developing strong working relationships internally.
In this position you assume a consultative role to acquire a clear understanding of the business needs of relevant issues. You will ensure client satisfaction by seeking feedback and anticipate issues and/or concerns to proactively provide solutions.
Certifications
Series 07 - FINRA, Series 63 - FINRA
Category
Relationship Management
Fidelity’s hybrid working model blends the best of both onsite and offsite work experiences. Working onsite is important for our business strategy and our culture. We also value the benefits that working offsite offers associates. Most hybrid roles require associates to work onsite every other week (all business days, M-F) in a Fidelity office.
