Family Office Associate - Houston, TX

Job Description:

Merrill Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Wealth Management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance.

Merrill’s Financial Advisors and Wealth Management Client Associates help clients pursue the life they envision through a personal relationship with their advisory team committed to their needs. We believe trust comes from transparency. Our trusted advisory teams are equipped with access to the investment insights of Merrill coupled with the banking convenience of Bank of America.

Merrill is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Merrill, we empower you to bring your whole self to work. We value diversity in our thoughts, business, and within our employees and clients. Our Wealth Management team represents an array of different backgrounds and bring their unique perspectives, ideas and experiences, helping to create a work community that is culture driven, resilient, results focused and effective.

Job Description:
Primarily responsible for product fulfillment and day-to-day account administration in and analytical support. Prepares account summaries and performance reports for clients. Collects information to assist in developing client recommendations, collecting and organizing client data and generating reports and analysis. Understands the products and services offered to high net worth clients. Develop client service plans and ensure that they are maintained and executed. Responsible for all client relationship operations and activities under the supervision of senior relationship managers. Required 5-7 years working with HNW clients.

Job Summary:

This job is responsible for household accounting services (including, but not limited to, bill payment, bookkeeping and expense reporting) and consolidated financial reporting services (including, but not limited to, investment performance aggregation reporting and personal financial statement reporting) for ultra-high net worth clients.  Knowledge of general ledger accounting is essential. Knowledge of investments and/or aggregation software is preferable.

Key responsibilities may include paying bills for ultra-high net worth clients, working daily in general ledger and investment performance aggregation software, producing accurate and timely deliverables monthly and learning to manage client relationships.

Job expectations include the ability to follow policies and procedures, function independently, manage workload around various monthly deadlines, work well with others including colleagues, managers and clients, be organized, detail oriented and possess good communication skills.

Essential Job Functions:

• Prepare accurate and timely monthly client deliverables such as expense summary and detail reports, investment performance aggregation reports, personal financial statement reports, prior year comparisons and consolidated net worth reports 
• Prepare and reconcile transactions from the client’s main spending accounts, assist in the process of gathering, reviewing and summarizing current as well as historical financial data to prepare client deliverables, review and reconcile monthly investment performance aggregation reports against custodian statements, analyze reports for client review and discussion
• Effectively review and process an array of client payments in a timely and accurate manner, monitor bill pay account balances, track recurring bills and payments, maintain each client’s pre-approved vendor list, transfer funds, as needed, monitor and coordinate domestic payroll with outside providers, reconcile bill pay accounts monthly and follow up on vendor payments to ensure client expectations are met at the highest level
• Communicate effectively in both oral and written forms with colleagues, managers, clients and the client’s team of advisors
• Assist and support colleagues and managers with various requests and initiatives such as vendor payment research, client onboarding, preparing ad hoc reports and fulfilling miscellaneous requests
• Assist with new client onboarding in the setup of the investment performance aggregation accounts and report package, building chart of accounts tailored to the client’s specific situation and organizing newly received client information for team reference
• Safeguard enterprise and client information by adhering to internal policies and procedures, maintaining organized electronic client files, keeping client confidentiality and integrity of client data
• Support relationship managers by conducting research, preparing ad hoc reports and fulfilling miscellaneous requests
• Learn to lead client relationships by working directly with a family office principal on assigned clients

Role Requirements:

• Previous experience with general ledger software and Microsoft Excel is essential
• Previous experience with investments and/or aggregation software is preferred
• Strong accounting background, particularly in accounts payable, expense reporting, chart of accounts and personal financial statement reporting
• Excellent verbal and written communication skills
• Attention to detail, organized, team player and excellent documentation skills
• Knowledge of investment basics is preferred
• Previous experience with ultra-high net worth clients is preferred
• Ability to work independently and manage workload around monthly deadlines is essential

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift:

1st shift (United States of America)

Hours Per Week: 

40