What are the responsibilities and job description for the Business Advisor position at Vestwell?
Who Are We?
There are over 30M small businesses in the United States, but only a tiny fraction of them have a workplace savings program in place. As the savings gap in the country widens, it's imperative that every worker has access to and participates in their company's savings program, such as a 401(k) or 403(b). We believe that American workers should have easy access to an inexpensive, flexible, and intuitive solution to save for a brighter future.
Unfortunately, prior to Vestwell, small businesses have been neglected and underserved, with expensive, inflexible, poorly designed offerings built on old, mainframe software. Vestwell is changing that, starting with rebuilding the core infrastructure for the modern era.
Vestwell's north star is to be the engine behind a $30T industry, powering all payroll-deducted workplace savings programs for small-to-midsize businesses, such as 401(k), 403(b), IRA, emergency savings accounts (ESA), health savings accounts (HSA), 529 college savings, and alike.
Vestwell's focus is to build the most flexible, powerful workplace savings and investment platform, delivered through the hands and minds of their financial services partners with the help of payroll provider partners. The team at Vestwell makes the hard stuff look easy, by combining the expertise of financial advice with the sophistication of a technology provider.
As a result, workplace providers are able to bestow the advice and solution employers and employees have been asking for, while growing and scaling along the way. Employers get a cost-effective solution designed for their needs without all the headaches, and employees get a user-friendly portal that helps them achieve their long-term saving goals.
Why Vestwell?
With backing from leading FinTech investors, as well as a growing team of dedicated professionals of strong industry pedigree, Vestwell is at the forefront of a much-needed change in a 40-year old industry. Our team believes in the mission we've set out to achieve and we are working hard to get there. We're ambitious, honest, thoughtful, and fun.
Who Are We Looking For?
A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. 529 plans, legally known as "qualified tuition plans," are sponsored by states, state agencies, or educational institutions. 529 plans are education investment accounts with special rules and tax benefits that help families save for college - and even for K-12 tuition. These plans are available in all 50 states and come in multiple forms: a prepaid tuition plan or a savings plan that allows after-tax contributions toward investments in mutual funds and exchange traded funds.
To support our mission to close the savings gap with the introduction of this new product offering, Vestwell's Operations & Services team is growing! We're looking for a Business Advisor to work closely with Vestwell's service providers and proprietary technology to investigate and resolve outstanding operational and participant issues, as well as participate in related projects as an Ops & Service team member. The ideal candidate possesses the ability to effectively communicate across multiple levels of management within Vestwell, our vendors, and our clients. They will also partner with Vestwell's current and future Broker Dealer community, Fund Distributors, and the NSCC. This role provides an exciting opportunity to expand the level of services that Vestwell State Savings provides to our Broker Dealer Community!
As our product offerings grow to incorporate state sponsored programs like 529 plans, Vestwell is thrilled to be the engine empowering millions more to reach their individual savings goals.
What Will You Be Doing?
- Providing oversight for the daily operations of our 529 Advisor Sold business, including managing the day to day priorities within the vendor operations
- Working with Mutual Fund Distributors on the specifics surrounding Advisor Fees and Fee Schedules, as well as major omnibus broker dealers on the setup of their funds including, but not limited to, spec pack completion, fund file setup, and program disclosure review
- Managing projects specifically around initiatives that affect both the vendor as well as Vestwell State Savings
- Establishing a Corporate Actions Calendar outlining important steps and milestones that must be completed for the line of business within Vestwell State Savings and vendor partnerships, including owning and managing the meetings and meeting agendas
- Participating in audits as needed, gathering responses and coordinating with vendors to gather appropriate data/information for reporting needs
Requirements
The Necessities
- Knowledge of College 529 Advisor Plans, NSCC, DTCC, and Mutual Fund Profile II
- Ability to work independently and manage workload to achieve desired goals
- Professional proficiency in Microsoft Word processing, Excel, and other Office 365 tools, as well as Google Workspace equivalents
- Ability to learn technical flows and optimize workflows for future use
The Extras
- Experience in Distributor relationships
Our Benefits
We're a growth stage startup with lots of exciting milestones ahead. We value health and wellness at Vestwell and in addition to a dedicated Employee Wellbeing Committee, we offer competitive health coverage and an open vacation policy. We have adopted a remote-hybrid office policy, but all employees are welcome at our bright, comfortable office with many workspace options in midtown Manhattan so everyone has a setting that is the most productive for them. We provide our team with all the equipment they need (plus a few perks!) to work effectively remotely. Oh, and naturally we have a great 401(k) plan!
Job Type: Full-time
Salary : $30 - $0
