What are the responsibilities and job description for the 401(k) Specialist position at Diversified, LLC?
Department: Sales and Planning Job Status: Full
FLSA Status: Exempt Reports to: VP, Sales and Planning
Grade/Level or Hourly Rate: Amount of Travel Required: 10%
Work Schedule: M-T 8am-5pm, F 8am-4pm Positions Supervised: N/A
This job may be located in either Wilmington, DE or Wayne, PA and is a hybrid role.
POSITION SUMMARY
The 401(k) Specialist is a dual-purpose role designed to serve as the firm’s primary expert for all employer-sponsored retirement plan matters while providing critical support to firm-wide trading operations. This individual will "own" the 401(k) management process from start to finish, managing everything from initial participant enrollment and troubleshooting to proactive outreach and plan research.
Beyond 401(k) administration, this role is a key member of the investment operations team, executing trades across multiple platforms to ensure lightning-fast execution and a premium client experience. The specialist acts as a vital liaison between the Investment and Advisor teams, reinforcing the breadth of the firm's retirement offerings during client and prospect consultations.
Trading & Investment Operations
- Firm-Wide Trading: Execute trades across SEI, Schwab, and Fidelity platforms to support the broader investment team.
- Held-Away Trading: Manage trading within Pontera and Akoya, including "held-away" assets during onboarding or model changes.
- Efficiency: Prioritize speed and accuracy in trade communication and execution to deliver a high-standard client experience.
- Data Maintenance: Maintain an updated database of plans where SDB options are available.
401(k) Management & Administration
- End-to-End Ownership: Manage the 401(k) lifecycle, including setting up clients on Pontera, Akoya, or Self-Directed Brokerage (SDB) accounts.
- Participant Support: Serve as the first point of contact for enrollment materials, plan rules, distributions, and general inquiries.
- Troubleshooting: Monitor and resolve all connection issues timely to ensure seamless data flow and management.
- Proactive Outreach: Reconnect with clients on firm-managed plans to address issues and ensure they are maximizing their annual contribution limits.
- Expert Consulting: Join client and prospect conversations as the firm’s 401(k) expert and collaborate with the investment team on plan-specific investment options.
- Growth & Strategy: Research plans for new opportunities, communicate best practices for held-away assets, and assist in bringing new plans under the firm's advisory services.
POSITION QUALIFICATIONS
Required Qualifications
- Bachelor’s degree in Finance, Accounting, Economics, or a related field
- Technical Proficiency: Extensive experience with retirement plan platforms such as Pontera, Akoya, and SDB setups.
- Trading Expertise: Demonstrated ability to execute trades across major custodians (Schwab, Fidelity, SEI) with a focus on speed and precision.
- Communication Skills: Ability to translate complex 401(k) tax law changes and plan rules into "low-hanging," easy-to-understand guidance for participants.
- Ownership Mentality: A "soup to nuts" approach to task management, taking full responsibility for resolving issues and following through on client needs.
Desired Qualifications
- Relationship Management: Comfortable acting as a liaison between internal departments (Investment vs. Advisor teams) and external clients.
- Analytical Mindset: Skilled at researching retirement plan documents to uncover new business opportunities or optimization strategies for clients.
- Growth Oriented: Ability to assist in business development by showcasing the firm’s expertise during the prospect onboarding process.