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Business Development Director- Private Client

Company: Cambridge Associates LLC
Location: Boston
Posted on: June 12, 2021

Job Description:

Firm Overview:

We are a leading global investment firm and aim to help endowments & foundations, pension plans, and high net worth private clients implement and manage custom investment portfolios that generate outperformance and enable them to maximize their impact on the world. Working alongside its early clients, Cambridge Associates pioneered the strategy of high-equity orientation and broad diversification, which since its inception in the 1980s has been a primary driver of performance for institutional investors. Today, we deliver a range of portfolio management services, including outsourced CIO, non-discretionary portfolio management, investment staff extension, and asset class mandates. Cambridge Associates maintains offices in major financial centers across the globe, with headquarters in Boston, MA.

Working with some of the world's most sophisticated institutional investors, we bring a deep knowledge of portfolio management best practices to the clients we serve, and select our colleagues with great attention to their potential to become a valuable member of a collaborative, intelligent and hard-working team.

Position Overview:

Cambridge Associates seeks to hire a business development director to join our private client practice. Our private client business targets single family offices and ultra-high-net-worth individuals with investment assets over $200 million. The individual will partner with investment teams to identify, prioritize and commercialize relationships with centers of influence (e.g., attorneys, accountants, and family office service providers) and new family offices as well as to retain and grow existing client relationships. The individual's primary responsibility will be to unearth prospective clients and work with investment teams and business development colleagues to develop and close these opportunities. The sourcing of new opportunities will come from two areas 1) the business development team's efforts to get to know the existing clients of each investment team and leverage these networks for new opportunities, and 2) practice-wide programmatic efforts to leverage broader firm networks with our institutional clients and investment managers

Success will be measured by effective collaboration with investment teams and business development colleagues resulting in new AUA/AUM from private clients, qualified new leads added to the pipeline of opportunities, and developing, cultivating and advancing key and strategically important relationships with family office centers of influence.

The business development professional will leverage Cambridge Associates' colleagues, deep manager research, and thought leadership in marketing and selling the firm's nondiscretionary and discretionary portfolio management services. The individual will report directly to the Private Client Practice Head of Business Development.

Position Description:

The business development director will work closely with the regional Business Development Directors, the Global Private Client Practice Head, Private Client Business Development and Client Relationship Management Leads, and specific investment teams within the Private Client Practice to coordinate coverage of available opportunities among a select group of investment teams. This individual must be able to identify if an opportunity exists and then align prospective client needs with Cambridge Associates' service offering. Once an opportunity with a prospective family is identified, the business developer will work closely with the regional Business Development Director, private client practice leadership and the identified investment team to manage the sales process.

The position requires a great deal of teamwork and collaboration within Cambridge Associates. The individual should be capable of handling a large number of clients, prospects and potential referral sources with a variety of needs.

The primary duties and responsibilities include but are not limited to:

  • Develop a complete understanding of Cambridge Associates' investment services, processes and philosophy and passionately articulate the firm's capabilities with internal and external constituents and prospective clients
  • Work closely with designated investment teams to map ecosystem - clients, prospects, influencers (T&E attorneys, CPAs, other family office advisors)
  • Build the pipeline for a select group of investment teams, identifying relationships with prospective single families and professional advisors who could be in a position to recommend the services of Cambridge Associates. Conduct background research on all groups and individuals
  • Coordinate with regional Business Development Directorand investment teams to execute engagement and outreach plan across clients, prospects, and COIs
  • Field calls with prospective clients. Evaluate opportunities and apply business acceptance criteria to meet business goals for revenue growth and profitability
  • Prepare proposal letters to referral sources, clients, and prospective clients -- communicating all aspects of the firm and its services
  • Prepare PowerPoint materials for meetings with clients, prospective clients, and influencers
  • Schedule and plan for prospective client meetings with investment teams
  • Coordinate client and prospect meeting rehearsals with investment teams to ensure effective sales discussions
  • Be a key contributor to new revenue for the firm through client acquisition and existing client relationships
  • Track all activity in CRM system
  • Attend and network at select conferences and events
  • Work collaboratively and in close partnership with colleagues at Cambridge Associates spanning various groups including business development, marketing, firm & practice leadership, investment directors, legal, and finance
  • Proactively share industry trends, lessons learned, and information on competitors with colleagues at Cambridge Associates

Qualifications for the Business Development position include:

With a professional demeanor, the Business Developer must be motivated, articulate, polished, organized and disciplined and act in a manner that is consistent with Cambridge Associates' collegial culture. A strong networking DNA, business building, organizational skills and the ability to effectively manage multiple tasks with high energy are critically important to the role as is the ability to be flexible and patient. The candidate must work effectively within a team environment and always seek to make the professionals around him/her better.

Specific attributes and qualifications include:

  • 4-10 years of business development experience within the investment industry, ideally working with UHNW families
  • Outstanding communication (written and verbal) and interpersonal skills
  • Strong listening and organizational skills
  • Attention to detail
  • Ability to operate independently with a high level of direct responsibility while also partnering effectively with both fellow business development team members and investment teams
  • The ability to strive for results, setting and achieving goals
  • Competitive attitude / driven to win for the team
  • Capable of managing long-term relationships and initiating and cultivating new client relationships
  • Series 3 (must pass exam within three months of employment)
  • Undergraduate degree is required.

Cambridge Associates is an equal opportunity employer. Diversity and inclusion are essential elements of our culture. We are committed to fostering an environment where individual perspectives, backgrounds, and life experiences make the firm a great place to work, and result in a more satisfying client experience.

Keywords: Cambridge Associates LLC, Boston , Business Development Director- Private Client, Other , Boston, Massachusetts

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