Sales Director - Large Market Retirement Recordkeeping Plans at T. Rowe Price

Owings Mills, Maryland, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Asset Management, Financial Services, Retirement PlansIndustries

Requirements

Four-year college degree required
Minimum 5+ years sales experience in retirement platform sales through intermediaries with an emphasis on recordkeeping
Comprehensive knowledge of 401(k) service components, industry trends, fiduciary responsibility, advisor value proposition and emerging best practices
Polished, articulate, research driven salesperson with consultative selling style leading to success in committee and boardroom presentations
FINRA Series 6 or 7 & 63 license required

Responsibilities

Execute a detailed segmentation strategy to identify and develop the select mid-market advisors and consultants who regularly work in the target market and understand their sales strategy
Maintain and ultimately increase the current close/win ratio including RFPs and finals presentations
Research and maintain an understanding of each client/prospect in order to draft strategic answers to RFP questions
Work collaboratively with dedicated internal Sales Support Liaison to deliver RFPs, maintain a high level of relationship building activity, manage and optimize pipeline, and develop the territory for long term success
Develop strategy and actively participate in finals and site visit deal prep with all team members, including review of all prospect materials
Within the first 6 months: Identify and create specific target lists, based upon defined criteria
Continually profile key advisor prospects to measure current success against targeted goals
Continually develop relationships with advisors and consultants to gain market intelligence and ensure receipt of RFI/RFPs
Describe and create effective sales formula and create a territory business plan that includes: Bi-Weekly 1 on 1 planning and sales discussions; Deal specific win strategy planning; Client specific prep meetings to learn everything relevant about that client
Gather information to better understand each client, organize it, and engage each prospect to provide research about their plans (including accessing all plan documents, 5500s, 10K, etc.) and use that information to better position T. Rowe in closing business
Planned Marketing Events and best practices sessions for Advisors and Consultants
Identify preferred DCIO partners to provide leads and introductions

Skills

Sales Strategy

RFP Management

Advisor Relationships

Consultant Engagement

Segmentation Strategy

401(k) Plans

Recordkeeping

DC Plans

Presentations

Client Research

T. Rowe Price

Global asset management and investment advisory services

About T. Rowe Price

T. Rowe Price provides investment advisory services and retirement solutions to individual investors, financial intermediaries, and institutions. The firm employs a disciplined investment approach supported by extensive research to deliver long-term value. It generates revenue mainly through management fees based on the assets it manages, which amounted to $1.569 trillion as of June 30, 2024. T. Rowe Price serves a wide range of clients, including individual investors, retirement plan sponsors, and institutional investors like endowments and foundations. Its global reach and experienced investment teams enable the firm to offer various investment strategies and products, helping clients achieve their financial goals.

Baltimore, MarylandHeadquarters

1937Year Founded

$78,115.8MTotal Funding

IPOCompany Stage

Quantitative Finance, Financial ServicesIndustries

10,001+Employees

Benefits

Paid Volunteer Time

Parental Leave

Learning & Growth Resources

Matching Charitable Gifts

Health Care Benefits

Generous Retirement Plan

Risks

Increased competition from AI-powered platforms challenges T. Rowe Price's traditional strategies.

Departure of key personnel may impact T. Rowe Price's wealth management capabilities.

High valuations of AI startups could divert capital from traditional asset management firms.

Differentiation

T. Rowe Price offers a comprehensive range of investment strategies across various asset classes.

The firm emphasizes long-term value through disciplined investment and extensive research capabilities.

T. Rowe Price's global reach and diverse client base enhance its market position.

Upsides

Growing interest in AI-driven investment strategies presents new opportunities for T. Rowe Price.

The rise of quantum technology aligns with T. Rowe Price's focus on tech startups.

Collaboration trends in biotech offer potential investment opportunities in genetic medicine.

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