Director - Wealth Management Sales

Salary: $175,500 - $255,000 annually

At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.

Position Summary

The Director - Wealth Management Sales is responsible for leading all sales, service experience, and human capital aspects of the wealth management division. This leadership position ensures the growth and development for the Wealth, Financial Planning, and Financial Advisory aspects of the business line. This position will report to the EVP – Wealth Management and partner with business line leaders to develop and execute effective wealth management strategies targeted at acquiring, deepening, and retaining wealth clients. This will include strategies for identifying consumer and business investor needs, effectively onboarding new clients, and developing strategies in Salesforce for effective follow up and cross sales. This position will lead and coordinate with various leaders of the division to create consistent client engagement and sales behaviors for all positions across the Wealth division including Financial Advisors, Wealth Advisors and Retirement Planning Services.

Primary Accountabilities

People

• Manages a team of professionals in a customer-centric culture to excel in a fast-paced environment.
• Completes coaching and feedback sessions as needed and appropriate to development plans and succession management as well as managing the annual performance review process with direct and indirect reports.
• Identifies high-potential employees for advanced training and development opportunities.
• Effectively manages poor performers.

Business Development

• Recruits, leads and develops Financial Advisors, Wealth Advisors, Client Service Associates, Retirement Planning Services talent to engage in business development, retention, deepening while also referring clients and prospects to Midland Trust Company and other areas of Midland State Bank.
• Designs, implements and grows a Branch-based and Virtual / Remote Advisory business model and team. Establish plans to scale and grow a remote advisor (Centers of Excellence) approach to expand our reach beyond current geographic footprint.
• Collaborates with Wealth Executives to design, implement and gain usage traction on self-directed and hybrid investing technology and solutions.
• Leads the sales growth process by monitoring and setting sales goals to achieve growth and revenue and profitability targets for wealth management.
• Actively calls, prospects, and develops high value prospects and clients of the Bank to market trust and investment management services, as well as works with centers of influence to cultivate similar types of business.
• Proven track record accelerating organic growth in fee based AUA.

Strategic Initiatives and Client Relationship Management

• Partners with Senior Leadership to design and implement business processes to improve client experience, practice management, overall service and profitability while minimizing business risks to accommodate growth of the organization.
• Collaborates on Salesforce design for wealth and API integration to platforms.
• Promotes One Midland, One Wealth behaviors to increase referral activities.
• Elevates usage of digital, co-browse, account aggregation tools to ensure staff and client engagement.
• Collaborates with support and operations on process improvement and operational integrity.
• Establishes and manages a “planning as central” mindset and disciplined rituals to grow and deepen client relationships. Planning penetration with both new and existing tiered clients in all sales leadership areas.
• Leads cultural and process changes in bank and advisor book acquisition strategies.
• Collaborates and plan client events, virtual forums to engage clients and prospects.
• Leverages Advisor support tools and Investment Asset Management expertise to provide the most appropriate solutions for clients.
• Models the way on recruiting, selling and client engagement strategies while also meeting and serving top clients.
• Manages and represents the advisor group to represent the Bank in community organizations and activities to enhance the Bank’s image.
• Participates in strategy, business review, and financial forecasting practices as necessary.
• Upholds all ethics and sales incentive program parameters while monitoring risk.
• As a working manager, provides joint calling assistance, referrals, and support to the team.
• Meets and exceeds all team goals related to items such as revenue, pipeline targets, calling and referrals.

Other

• The role requires regular travel for training and team meetings, and willingness to travel periodically, to locations within market as needed. Mandatory in-person employee and client meetings.
• Requires work in a Midland office to ensure collaboration and support of internal and external customers.
• Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
• Other duties as assigned.

Position Qualifications

Education/Experience:

• Bachelor’s Degree in Business, Finance, or a related field, or equivalent experience.
• Advanced degree (J.D. or MBA) preferred.
• 10 or more year’s previous experience in financial services, sales/relationship development management, advanced designations and / or preparatory work or guidance may sometimes be assessed in lieu of experience.
• Preferred licensing and experience with Insurance, 6 / 63, SIE, 7 and supervision.
• Preferred Certified Financial Planner (CFP) or additional professional certifications.
• Minimum of 10 years of experience leading teams with demonstrated success coaching and motivating team members.
• Coaching experience leading team-based affluent and emerging affluent advisors, and associates / assistants.
• Sales oriented, friendly, and persuasive personality.
• Professionalism, ethics, and courtesy in dealing with customers and bank employees.
• Effective communicator and engagement catalyst.
• Self-Starter, energetic, assertive, curious, innovative, growth focused.
• Deep knowledge of investment products.
• Excellent oral, written, and interpersonal communication skills with the ability to instruct others, interpret documents, and write reports and correspondence.
• Excellent organizational and time management skills.
• Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.

Competencies:

• Business insight
• Cultivates innovation
• Drives results
• Makes sound decisions
• Being a brand champion
• Collaborates
• Communicates effectively
• Customer focus
• Being Authentic
• Emotional Intelligence
• Self-development
• Being flexible and adaptable

At Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident, and more excited to do great things for our customers, each other and our company. We’re proud to be an Equal Opportunity and Affirmative Action employer. At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.

If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at HR@midlandsb.com.

THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT