1. Provide brief summary of overall function
The majority of client assets today are with clients in the red zone (i.e., age 55 to 70). These clients are making decisions to consolidate assets. Those decisions are being driven by goals more focused on income than accumulation. We want to become the go to firm for asset consolidation in the red zone by developing a culture that embeds the needs of these clients into our intellectual capital, tools, and products.
In order to achieve that goal, this position works closely with Marketing, Technology, GIC, Wealth Planning, Annuities, CG, Banking and Lending, and other product groups (i.e., Capital Markets, mutual funds, AI, etc.) throughout the organization. The top down strategy of this position to implement retirement income intellectual capital, tools, and resources helps allow us to avoid the need to develop positions in the field to assist Financial Advisors with this opportunity.
. Provide description of specific role
a. Key activities and percentage of time spent on each
Responsibilities include working with key stakeholders such as Marketing, Financial Planning, Annuities, CG, and Capital Markets to integrate retirement income into the culture of their respective organizations. This includes marketing materials, tools, resources, etc.
In addition, the position will build and maintain tools to enable Financial Advisors and the Business Development organization to identify red zone opportunities. This will in turn drive higher success probabilities for the local market plans.
• Interaction with key internal stakeholders: 25%
• Competitive and industry research, strategy and development: 25%
• Implementation of tools and resources (including governance): 25%
• Interactional with Field Management and Financial Advisors: 25%
b. Beneficiaries / “Clients” (e.g., FAs, 3rd-party managers , other businesses, etc), drivers of workload
The work produced by the position will….
• Enable Financial Advisors to more effective cross sell to existing clients and close new opportunities.
• Increase Financial Advisor retention and recruiting by positioning Morgan Stanley as the firm of choice to help clients with retirement income
• Benefit third party managers by increasing the focus on products appropriate to clients who have entered the decumulation cycle.
• Provide an opportunity for the Business Development Organization to improve the success of LMPs by giving them another way to drive product usage
c. Comp and how that compares to existing role if relevant (e.g., looking to increase to stay within market range?)
Maintain current VP officer level and total reward.
Morgan Stanley - 18 months ago
One of the world's top investment banks, Morgan Stanley serves up a smorgasbord of financial services. The company operates...