Elite Growth Practice Business Manager Trainee

Job Description

Business Manager – EGP | Bank of America

The Tone:
This is a full-time, in-office position at Bank of America, based in the United States. Bank of America’s Merrill Wealth Management provides comprehensive wealth management and investment products and services, specializing in goals-based wealth management for individuals, companies, and institutions. This role is a key contributor to Financial Advisor teams, driving strategic execution and managing business plans to support client growth and overall practice success. This position is vital in enabling advisory teams to help clients achieve their life goals through expert guidance and a trusted relationship.

The TL;DR
• Role: Business Manager – EGP
• Type: Full-time
• Location: In-person, US-based

• Team: Financial Advisor (FA) team; FA Paid Resource
• Mission: Drive growth and ensure strategic execution for Financial Advisor teams by managing business plans and key metrics.
• Tech Stack: Salesforce, Wealth Management Workstation

What You’ll Actually Do
• Strategize Growth: Partner with Financial Advisors to develop, implement, and execute business plans aligned with growth objectives and firm priorities.
• Oversee Practice Finances: Manage and track practice financials including revenue, expenses, and profitability, providing insights for growth and efficiency.
• Monitor Performance: Establish quantifiable business and activity goals, analyze data for trends, and track progress through reporting dashboards.
• Enhance Client Experience: Oversee the execution of the team’s client service model, ensuring consistent delivery of high-quality, personalized client engagement.
• Coordinate Team Operations: Coordinate team assignments, workflow, and key initiatives, acting as a central point for project organization and timely delivery.

The Must-Haves
• Background: High School Diploma / GED or equivalent. Thorough knowledge of Merrill Lynch Wealth Management business functional areas, products, and services, alongside a working knowledge of general bank policies.
• Experience: Eligibility for Trainee, Specialist, or Senior level depending on experience and team needs. Required to obtain Series 7 and 66 (or 63 & 65) licenses and an approved designation within a specified timeframe if not currently held.
• Skills: Strong leadership, communication, and delegation abilities. Proven analytical skills for identifying trends and implementing process improvements. Ability to influence outcomes and drive decisions without direct authority.
• Bonus: Understanding of the overall client experience, administrative services, project management, sales performance management, strategy planning and development, and continuous improvement.