Wealth Protection Advisor, Service (Hybrid)

First West Credit Union · Penticton

The Wealth Protection Advisor (Service) provides professional and comprehensive less complex, insurance planning, solutions and advice to members requiring term life insurance deals. This role completes a review of the member’s current level of insurance coverage and provides recommendations that meet the member’s life cycle needs for today and the future primarily from a virtual environment. The Wealth Protection Advisor (Service) mines current term policyholders, builds and maintains relationships and takes on referrals from lines of business in the term space, referring more complex insurance solutions to the Wealth Protection Advisor. This role also provides leadership, education, and coaching to branch employees on relevant insurance products and services, as required.

Here’s what would be included as a part of your typical day

Sales and Service Strategy: Mines current regular term life insurance policy holders, provides insurance planning and advice to members, referring complex cases to the Wealth Protection Advisor. Builds and maintains relationships, analyzes member data on income, assets, liabilities and wealth transfer objectives, identifies needs and provides appropriate insurance solutions or refers to product specialist within other FW Wealth Management (FWWM) lines of business; seeks opportunities to assist members in consolidating their financial assets with FWWM; conducts follow-up interviews with members on at least a bi-annual basis to identify changes in circumstances that would require alternate insurance option.
Risk Management: Provides advice and acts in accordance with ethical standards, Life Insurance Council of BC policies and applicable regulatory requirements, ensuring that risk to the member and FWWM are minimized; maintains compliance with FWWM audit and risk management policies and procedures. Keeps up to date with the changes surrounding Life Insurance and Wealth Management practices.
Leadership: Builds relationship with branch leadership and employees and provides subject matter expertise and/or mentoring when required; schedules and facilitates product knowledge sessions with members and/or branch employees; provides input into the performance evaluation for assigned support staff.
Member Transactions: Processes applications; conducts follow-up discussions with insurance vendors and/or contractors and/or medical professionals, as required, to assist with the processing of applications; sets up and maintains accurate member files.

Differentiation between WPA & WPA (Service) role:

The WPA works self-sourced opportunities and complex life insurance referrals solutions that require advanced planning and advice; WPA (Service) mines and works term life insurance deals that require simple planning and refers more complex planning and advice to the WPA
WPA is an outside sales role; WPA (Service) is a centralized role

Required Skills, Experience & Qualifications

Bachelor's Degree in related discipline or equivalent combination of education and experience required
Life Insurance Qualifying Program (LLQP) Required
CLU, CFP or PFP or equivalent designation (within 24 months) preferred
2-4 years in a life insurance sales position or equivalent required
Proven superior knowledge of life insurance products and services preferred
Proven networking and relationship building skills
Superior sales abilities e.g. active listening, identifying business opportunities, influencing, and negotiating to close sale
Demonstrated ability to communicate both verbally and in writing with a wide variety of people
Proficient with computer software programs e.g., Microsoft Office
Displays an understanding of risk and risk ownership by being able to demonstrate adherence to policies and procedures.

Our compensation has 3 parts:

Base Salary
Commission Structure - Competitive, performance-driven commissions with strong earning potential
Performance Bonus - Additional variable compensation aligned to your results

The compensation structure for this role is currently under review. Compensation will include a base salary, commission earnings, and an annual incentive opportunity. Anticipated total compensation for this role is between $90,000 and $120,000 annually.

We are currently seeking a Wealth Protection Advisor (Service) to join our team. This is a hybrid role with an opportunity to work from one of our branches located in Kelowna, Penticton, Duncan, Victoria, Langley or the greater Vancouver area. The Wealth Protection Advisor (Service) provides professional and comprehensive less complex, insurance planning, solutions and advice to members requiring term life insurance deals. This role completes a review of the member’s current level of insurance coverage and provides recommendations that meet the member’s life cycle needs for today and the future primarily from a virtual environment.

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