Business Development Associate

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Franklin Templeton Investments
  • 20 Oct 17 2017-10-20

Business Development Associate

Fiduciary Trust Company International has been a trusted investment manager for individuals, families and foundations for more than 80 years. With world-class capabilities in investment management, trust and estate services, and custody services, we have the expertise to meet the requirements of the most sophisticated clients and their advisors, and can help assure that their families' needs will be met long into future generations.

In 2001, Fiduciary Trust joined forces with Franklin Resources, Inc., a global investment management company operating as Franklin Templeton Investments. The acquisition presented both companies with an opportunity to expand and enhance their resources, services and global presence by combining complementary areas of expertise.

The Business Development Associate will be responsible for assisting the successful implementation of strategies to increase market share, revenues, and profitability of the high net worth business. This role will collaborate with other Business Development Associates across all offices, senior leaders within the Business Development and Marketing groups, and senior leaders across the firm. The candidate is expected to bring together multiple capabilities such as strong relationship management skills, pragmatic problem solving, and process management strengths. The successful candidate should have already demonstrated capabilities as a successful member within a team environment.

Job Duties/ Responsibilities:

Fiduciary Trust Sales process - Pitch Books / Presentations

    • Design sales presentations for New Business Prospect Meetings which require customization based on prospects needs and concerns.
    • Create current asset allocations and proposed recommendations, Estate plans, Capital Gains analysis and tax implications, etc. by analyzing statements, Trust and other documents provided by the prospects.
    • Review all material with Business Development Officer to ensure all prospects needs and concerns are adequately illustrated. Partner with all subject matter experts to ensure content is both current and accurate based on market, world events, and current income and tax environment. Prepare final sales presentation materials for prospect meeting.
    • Partner with Presentation Group to ensure any customized presentation analyses are derived from or are approved by Legal and Compliance Departments.
    • Research background on prospects, including personal and financial histories (financial transactional activity) and create New Business Opportunity Review Memos that educate Sr Management and the team on prospects background and services. Analyses prospect or client portfolios as necessary and create asset allocation overviews, wealth projections, planning overviews such as balance sheets, etc.
    • Conduct ad-hoc research assignments on prospects, referral sources, competitors, or strategies.
Business Development Sales
    • Act as Jr Business Development Officer by identifying and responding to initial prospect inquiries which come in thru the web or phone about Fiduciary Trust services. Provide detailed information based on prospects need and request and determine next step for follow up.
    • Cultivate business development relationships with junior referral sources. (Young Lawyers and external network)
    • Report sales activity in Siebel (internal sales system) weekly for Business Development Officers (BDOs) and Finance to track asset increases and revenue, which are reported weekly to Fiduciary CEO.
    • Participate in sales and marketing meetings (internal and external as needed) in order to provide updates for the Business Development Officers.
Manage Client Onboarding Process for New Clients
    • Analyze materials from pitch meetings in order to determine required documentation to open an account. Prepare Account Opening checklists, contracts, and forms to send to new clients.
    • Research basic and enhanced due diligence screening on new and existing clients to ensure all compliance requirements are adhered to.
    • Know Your Client form - Analyze data in order to draft the background information and detailed summaries for all the tax structures. Determine outstanding required documentation and follow up with clients and advisors (attorney, Accountant, etc.).
    • Partner internally on the completion of the account opening process with investment or trust officers.
Partner with assigned BDO to accurately respond to RFP/RFI or Due Diligence Questionnaires.
    • Partner with BDOs, Marketing group, and other necessary internal groups (investment management, strategic advisory, custody, etc.) involved in the RFP to understand client needs and to create customized RFP responses that highlight the firm's strategic and competitive advantage.
    • Ensure consistency of look and feel of responses relative to our branded style template.
    • Develop strong relationships with internal subject matter experts with particular attention to developing strong investment/product knowledge.
    • Partner with BDA team to maintain and update RFP responses and relevant data in internal database.
Marketing and Events Functions
    • Manage the client, prospect, and referral source Client Relationship Management database (Siebel/ACT/Outlook, Excel/etc.). .
    • Propose and Partner with BDO and Marketing on event content which includes materials, speakers, etc. Ensure material is timely in regards to current and market events.
    • Determine prospects that should be targeted for specific events based on background analysis of prospects and referral sources.
    • Run reports from internal systems for to manage invitation lists, holiday card mailings, and RSVPs for events. Identify gaps that need to be addressed.
    • Determine specific content materials and thought pieces based on event and audience. Ensure proper marketing supplies from Fiduciary Trust headquarters and parent company are represented at marketing functions.
Miscellaneous (Ad-hoc/Other office support/etc.)
    • Act as backup for teammates/colleagues on vacation.
    • Oversee Administrative Assistants activities to ensure all administrative needs of BDOs are fulfilled.
    • Prepare and submit New Business Award forms and various business development related forms to senior management for review and approval as necessary.
    • Prepare Client Acceptance Committee forms for which are used to substantiate a customized fee schedule in order to win business from a competitor.

  • Bachelor's degree
  • Law degree preferred
  • 1 - 2 years of experience within the finance industry, preferred
  • Prior client service experience preferred

  • Strong communication skills, both written and verbal with emphasis on experience in writing and responding to RFPs/RFIs.
  • Experienced in maintaining a data repository a plus.
  • Exceptional organizational skills with a strong attention to detail required.
  • Ability to multi-task, prioritize, and manage projects consistently with prompt follow through in a fast-paced deadline-driven environment.
  • Team player mentality / collaborative attitude.
  • Strong interpersonal skills and professionalism required.
  • Excellent telephone etiquette with the ability to communicate directly with clients and senior managers.
  • Proficient with MS Office applications (Word, Excel, PowerPoint, Outlook).