Job Summary:
We’re seeking a highly organized and detail-oriented Manager of Direct Business & SMA Operations to oversee the operational workflows for direct business (e.g., annuities, mutual funds held directly with fund companies) and separately managed accounts (SMAs). This role ensures that all direct and SMA selling agreements are in place and accounts are in-good-order and maintained in accordance with regulatory standards and internal policies.
Key Responsibilities:
- Direct Business Operations:
- Support existing and transitioning advisor offices with establishing firm relationships and client accounts for all RIA direct business, including Alternatives, 401Ks / Retirement Plans, Insurance Policies, Annuities, and 529 accounts, Trust accounts, etc.
- Work with various carriers and advisor offices to maintain selling agreements, initiate new agreements and update or terminate existing agreements as needed.
- Coordinate RIA direct business processing between investments, compliance, operations, billing and compensation departments
- Administrator of Pontera platform or similar platforms
- Facilitate advisor appointments with carriers by gathering, reviewing, and submitting all necessary paperwork and licensing documentation.
- SMA Coordination:
- Serve as liaison between our firm, third-party asset managers, and custodians to ensure timely advisor and client account set up.
- Support existing and transitioning advisor offices with establishing firm-level relationships and operational workflows for custodian and other manager platforms.
- Workflow Optimization:
- Identify process inefficiencies and propose automation or procedural improvements.
- Collaborate with back-office and compliance teams to streamline operations.
- Train advisors, operations and administrative staff on Direct Business & SMA process.
- Account Management:
- Oversee new account setup, maintenance, data feeds, and closures for direct business and SMA accounts.
- Ensure proper documentation, compliance requirements, and custodial forms are submitted and tracked.
- Act as a liaison between the advisors and various NEA departments to ensure timely follow-up
- Advisor & Client Account Support:
- Provide timely updates and support to advisors on account status and service issues.
- Respond to operational inquiries from advisors and/or clients related to their direct business or SMA holdings.
- Collaborate with the compensation & commissions team on direct business payments inquiries, manager fee inquiries.
- Compliance & Documentation:
- Maintain records and document management systems.
- Ensure adherence to all firm policies and regulatory standards (SEC, FINRA, etc.).
- Conduct and manage vendor due diligence on both direct business and SMA relationships.
Skills & Qualifications:
- 3+ years of experience in financial services operations, ideally in an RIA, broker-dealer, or TAMP setting.
- Familiarity with SMA platforms (e.g., SMArtX, Meketa, Vise, etc.) and direct business processes.
- Strong knowledge of custodians (Fidelity, Schwab, Raymond James, Goldman Sachs, LPL Financial) and their workflows.
- Experience with CRM and portfolio management systems (e.g., Orion, Salesforce, etc.).
- High attention to detail, ability to multitask, and strong organizational skills.
- Excellent communication skills—both written and verbal.
- Series 65, 7/66 license, SIE (or willingness to obtain).
- Proficiency in Excel and data reconciliation.
- Passion for continuous improvement and team collaboration.