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SalaryThere is a place for you at T. Rowe Price to grow, contribute, learn, and make a difference. We are a premier asset manager focused on delivering global investment management excellence and retirement services that investors can rely on today and in the future. The work we do matters. We invite you to explore the opportunity to join us and grow your career with us.
Summary of Position:
T. Rowe Price, and its affiliates, has more than 7,000 associates and over $1.3 trillion in assets under management globally. This role will support the US Intermediary business, consisting of Wealth Management and Retirement accounts and representing over $650B in AUM. The Wealth Management distribution group strives to build strong long-term relationships through outstanding customer service and a comprehensive suite of investment management solutions to our diverse client base which include Banks, Broker/Dealers, RIA, TAMP’s, and Intermediary Platform providers throughout the United States.
T. Rowe Price is seeking to recruit a Hybrid Alternative Investment Specialist who has experience with distribution of alternatives, including working directly with other Sales professionals at T. Rowe Price as well as with Financial Advisors. This position offers a unique opportunity to expand and deepen TRP’s significant presence in the advisor sold market by expanding our relationship with financial advisors across segments into the alternative space. Combining entrepreneurial opportunity to start and grow a business while partnering with an established team and leveraging the resources of an established global investment firm.
About the Job:
- The position is part of the US Intermediaries (USI) business unit and will report to the Head of Alternative Investment Specialists.
- This role will work with T. Rowe Price sales professionals who are directly responsible for distribution of alternatives products, and as well as peers on partner teams which include Wealth Management (WM), Retirement, and Oak Hill Advisors (OHA) in pursuit of driving sales.
- This is an internal Sales Hybrid role and is responsible for working with external T. Rowe Price Alternatives Specialists to develop and implement business plans for assigned territories, including ongoing management of sales pipeline and utilizing data/analytics to facilitate target Marketing.
- Location: New York City
- Responsibilities include:
- Drive sales of Alternative Investment strategies with targeted financial advisors & intermediaries across all USI WM channels.
- Present TRP’s Alternative capabilities to Financial Advisors and Investors and supporting client service requests as appropriate.
- Proactive outreach to existing clients and prospects (meetings, phone calls, emails), to deliver key messages about T. Rowe Price and OHA alternatives products and capabilities.
- Educate TRPs generalist sales team(s) on available alternative strategies.
- Manage an alternative sales pipeline and CRM opportunity management and pipeline reporting.
- Develop relationships with prospect wealth firms across all WM channels.
- Evaluates the strategic potential of prospects and, in concert with dedicated generalist field sales teams and Alternative Specialists, develops and executes a plan for capitalizing on those opportunities in the near and long term.
- Develops in-depth knowledge of the assigned clients, their sensitivities, and their business needs to effectively influence their decision-making.
Job Summary & Responsibilities:
Accountable for driving sales in alternatives with target advisors in region.
- Partner with dedicated generalist field sales teams and Alternative Specialists in driving sales of alternatives within existing sales regions/channels.
- Prospect new advisor relationships with the goal of directly driving sales across alternative products, and identify sales opportunities and deepen relationships with existing advisors.
- Support efforts with various T. Rowe Price distribution teams on training/education on our Alternative Investments.
- Utilize existing data infrastructure to identify, aggregate and prioritize targets of opportunity (both current clients and prospects) within the assigned territory and segment.
- Appropriately document and update our CRM (Salesforce) to ensure the data integrity and deepening expertise within the system.
- Provide insight and proactive ideas for improvement to optimize team's time and improve client experience.
- Work with internal teams across T. Rowe Price and Oak Hill Advisors to represent industry trends and client preferences and collaborate on designing effective go-to-market distribution strategies that directly result in new AUM.
- Understand and effectively communicate complex alternative investment capabilities pertaining to both private and registered investment vehicles, to existing and prospective clients.
- Maintain a deep understanding of the Alternatives landscape, including: competitor updates, product trends, advisor preferences for both private and registered investment structures.
- Coordinates sales opportunities for assigned clients across T. Rowe Price business units as necessary.
- In partnership with the Alternative Investment Specialist team, deliver on preparation and follow-up items that help ensure team members are prepared in advance of key meetings:
- This includes but is not limited to the following activities: post face to face meeting follow-up emails and outbound calls to advisors/key contacts, preparation work for investment professional meetings and/or due diligence meetings. Build lists and manage deliverables for targeted team member outreach.
Job Requirements:
- Prior experience in private credit
- Proven experience working with Sales professionals and directly with clients related to alternative distribution
- Proven ability to drive sales directly with clients / intermediaries
- Previous experience and proven success with fundraising through RIA relationships (strongly preferred)
- In-depth knowledge of Alts and investment vehicles such as interval funds, BDCs, Non-traded REITS, private funds, etc.
- Minimum of 3-5 years of Alts experience
- College degree required and advanced degree or designation preferred (e.g. CFA, CAIA, CIMA)
- Series 7 & 63 preferred; must obtain within 3 months of hire
- Exceptional communication skills including written, verbal, and delivering presentations
- Experience with the U.S. investment distribution landscape including Broker/Dealers, Registered Investments Advisors, Banks, and Retail Platforms
- Strong organizational, time management, and relationship management skills
- Significant travel required
FINRA Requirements
FINRA licenses are required and will be supported for this role (7 and 63 must be acquired within 3 months of hire).
Work Flexibility
This role is eligible for remote work up to three days a week.
Regional Requirements:
Base salary range:
$102,000 - $185,000 USD
For the location of:
New York
This job posting is expected to be available until 5/31/2024.
Base salary range:
For the location of:
New York, NYPlacement within the range provided above is based on the individual’s relevant experience and skills for the role. Base salary is only one component of our total compensation package. Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.
Commitment to Diversity, Equity, and Inclusion:
We strive for equity, equality, and opportunity for all associates. When we embrace the power of diversity and create an environment where people can bring their authentic and best selves to work, our firm is stronger, and we create greater value for our clients. Our commitment and inclusive programming aim to lift the experience for each associate and builds allies for our global associate community. We know that a sense of belonging is key not only to your success at the firm, but also to your ability to bring your best each day.
Benefits: We invest in our people through a wide range of programs and benefits, including:
- Competitive pay and bonuses as well as a generous retirement plan and employee stock purchase plan with matching contributions
- Flexible and remote work opportunities
- Health care benefits (medical, dental, vision)
- Tuition assistance
- Wellness programs (fitness reimbursement, Employee Assistance Program)
Our policies may change as our working lives evolve. Yet, our commitment to supporting our associates’ well-being and addressing the needs of our clients, business, and communities is unwavering.
T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.
