Field Sales Executive, Wirehouse Channel – Upper Midwest at Vanguard

Minneapolis, Minnesota, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, Investment ManagementIndustries

Requirements

Ten years related experience
Eight years of experience selling to financial advisors
At least five years of prospecting to wirehouse financial advisor teams
FINRA Series 7 & 63
Undergraduate degree or equivalent combination of training and experience
CIMA, CFP or CFA is a plus

Responsibilities

Achieve established sales and retention goals within the spirit of Vanguard’s Code of Ethics
Support the largest sales relationships and independently plan and execute for material segments
Develop a strategic sales plan for the territory and target client segments, identifying and preserving high-quality business relationships
Effectively present Vanguard's investment capabilities and services to prospects, clients, consultants, and industry organizations through written, verbal, and electronic media
Develop positive relationships with senior and executive management of prospect and client organizations
Drive results in raising awareness of Vanguard's investment capabilities and services through targeted prospecting activities
Implement short and long term relationship growth strategies for key territory prospects
Use expertise in market and competitive environments to help position Vanguard's services appropriately
Master knowledge of the regulatory environment, operating in compliance with applicable regulations
Coach, collaborate, and develop less tenured sales partners
Participate in special projects and perform other duties as assigned
Manage territory, develop pipeline, and execute day-to-day activities across the Upper Midwest (MN, WI, ND, SD, NE, IA)
Grow and retain assets with top advisors (inclusive of private wealth) in the wirehouse channel (Merrill Lynch/Morgan Stanley/UBS/Wells Fargo including FiNET)
Exhibit high-producing sales skills and in-depth product knowledge of fixed income strategies and other asset classes while navigating leadership and key decision-making processes

Skills

Key technologies and capabilities for this role

SalesTerritory ManagementPipeline DevelopmentFixed Income StrategiesAsset ClassesFinancial AdvisorsWirehouse ChannelETFsMutual Funds

Questions & Answers

Common questions about this position

What is the territory covered by this Field Sales Executive role?

The role covers the Upper Midwest territory, including MN, WI, ND, SD, NE, and IA.

What sales channels and firms does this position target?

The position targets the top advisors (inclusive of private wealth) of the wirehouse channel, including Merrill Lynch/Morgan Stanley/UBS/Wells Fargo including FiNET.

What product knowledge is required for this role?

The role requires in-depth product knowledge of fixed income strategies and other asset classes.

What is Vanguard's core purpose and focus in this role?

Vanguard's core purpose is to take a stand for all investors, treat them fairly, and give them the best chance for investment success, with a strategic focus on improving fixed income investment outcomes.

What key responsibilities make a strong candidate for this position?

A strong candidate achieves sales and retention goals, develops strategic sales plans, presents investment capabilities effectively, builds senior relationships, and drives prospecting activities.

Vanguard

Client-owned investment management firm offering low-cost funds

About Vanguard

Vanguard provides financial services with a focus on investment management. The company offers a variety of products, including mutual funds, exchange-traded funds (ETFs), individual retirement accounts (IRAs), and 401k rollovers, aimed at individual investors, financial advisors, and institutions. Vanguard's unique ownership structure means it is owned by its funds, which are in turn owned by the clients, allowing it to prioritize the needs of its investors over external shareholders. This model enables Vanguard to offer low-cost investment options, as it primarily earns revenue through management fees that are generally lower than industry standards. Additionally, Vanguard provides personalized investment advisory services, charging fees based on the assets managed. The company's goal is to help clients grow their wealth and achieve their financial objectives through effective investment strategies, while maintaining a competitive performance track record.

Kline Township, PennsylvaniaHeadquarters

1975Year Founded

SECONDARYCompany Stage

Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Best-in-class medical, dental & vision coverage

Onsite health clinic & fitness center

Health Smart Rewards program

Vanguard Retirement Savings Plan

Education Benefits

PTO

Family Planning Benefist

Parental leave

Personal development opportunities

Volunteer Time Off

Risks

Competition from AI-driven platforms like Writer challenges Vanguard's traditional advisory services.

Vanguard's stake in Steelcase exposes it to the volatile furniture market.

New active bond ETFs may struggle in a low-yield environment with increasing competition.

Differentiation

Vanguard is client-owned, aligning its interests with investors, unlike traditional firms.

The firm offers low-cost investment products, making it attractive to cost-conscious investors.

Vanguard's ownership structure allows it to focus on long-term investor value.

Upsides

Vanguard's new active bond ETFs offer diversified, low-cost fixed income options.

The acquisition of Steelcase shares diversifies Vanguard's portfolio into the furniture industry.

Launching the International Dividend Growth Fund appeals to investors seeking sustainable dividend growth.

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