Sales Development Representative, Vestwell
$55-60k
Plus variable. Salary is based on NY and other similar metro areas and may differ based on where the role is ultimately hired
Digital recordkeeping platform for 401(k) plans
Open for applications
Digital recordkeeping platform for 401(k) plans
201-500 employees
Open for applications
$55-60k
Plus variable. Salary is based on NY and other similar metro areas and may differ based on where the role is ultimately hired
201-500 employees
Company mission
To make managing retirement investments cheaper, simpler and safer.
Role
Who you are
- The SDR should be a quick learner who has strong communication skills and an ability to showcase our offerings in a compelling way
- Two or more years of experience in sales, with a track record of exceeding lead targets
- Strong communication skills via phone and email
- Proven, creative problem-solving approach and strong analytical skills
- Displays self-motivation for sales coaching and development
- Strong desire and ability to move up within a sales organization
Desirable
- Bachelor’s degree (or equivalent) or at least five years of relevant work experience
- Experience as a sales development representative, with a track record of achieving & exceeding sales quotas
- Proficiency with Salesforce, Salesloft, or other CRM software
- Financial services &/or small business sales experience
What the job involves
- That’s why we’re seeking a qualified sales development representative (SDR) to find and screen potential customers who could benefit from our range of financial wellness products and services
- As the first line of communication with a prospect, the ideal SDR has a strong understanding of the sales methodology and excels at:
- Engaging new clients through high volume calls and call cadences
- Driving qualification, urgency and intent
- Creating effective sales meetings for sales closers that optimize prospect conversion
- Represent the company’s products and services & deliver Vestwell’s value proposition to new prospects, including both financial advisors and business owners
- Qualify prospects, build intent & generate new meetings for sales through outbound calling
- Manage and maintain a pipeline of interested prospects and engage sales leaders in next steps
- Own your personal growth and development as a Vestwell sales representative by learning the financial services industry, Vestwell’s range of financial wellness solutions, and the mechanics of a modern sales process
- Utilize Salesforce to manage lead lists
- Understand Vestwell partnerships
- Understand the products and services Vestwell offers
- Master talk tracks and ability to qualify prospects
- Utilize Salesloft to make outbound calls focused on generating new sales opportunities
- Set up meetings for prospects with field sales representatives
- Report to sales manager with weekly, monthly, and quarterly results
Application process
- It starts the same for every candidate: getting to know the team members through 1 - 2 conversations about Vestwell, your experience, and your interests
- Next steps can vary by role, but the usual next steps are a skill or experience screen (e.g. a coding interview for an Engineer, a portfolio review for a Designer, deeper experience call for other roles) which leads to a virtual or in-person interview panel after that if the screens go well
- Efore making an offer, our interview process concludes with a references check stage for your recruiter to meet with a current or former supervisor and peer
- We prioritize transparency and lack of surprise throughout the process
Our take
The current landscape of 401(k) retirement plans is stagnant in comparison to the standards of financial software innovation. Vestwell offers a digital record-keeping platform that works directly with wealth management firms to help workplaces save money on their employee retirement plans. Vestwell does this by removing the friction points financial advisors and companies have in establishing and maintaining defined contribution and benefit programs.
The startup faces competition from legacy players such as Boston-based Fidelity Investments who currently keep track of almost $2 trillion in assets in the industry. Furthermore, Empower also focuses on advisor-friendly and customized web tools and functionality, presenting further competition to Vestwell.
Despite this, Vestwell is uniquely positioned to disrupt the stagnant 401(k) system, a stance only strengthened by its substantial rounds of funding through the 2020s. This has been invested into expanding platform functionality and servicing for its partners and clients, releasing two new products in September 2022 - Vestwell Flex and a TPA portal. These additions will make Third Party Administration partnerships more efficient for Vestwell customers, streamlining the recordkeeping systems necessary for such actions. Continued product updates like these will help Vestwell keep pace with its substantial competition.
Steph
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 5 rounds)
Dec 2023
$125m
SERIES D
Jul 2021
$70m
SERIES C
Total funding: $237.5m
Company benefits
- We’re a growth stage startup with lots of exciting milestones ahead
- We value health and wellness at Vestwell and in addition to a dedicated Employee Wellbeing Committee, we offer competitive health coverage and an open vacation policy
- We have adopted a remote-hybrid office policy, but all employees are welcome at our bright, comfortable office with many workspace options in midtown Manhattan so everyone has a setting that is the most productive for them
- We provide our team with all the equipment they need (plus a few perks!) to work effectively remotely. Oh, and naturally we have a great 401(k) plan!
Company values
- Act like an owner - As a mission-driven company, we value our team members and prioritize employee ownership. We believe in creating an environment where each Vestweller feels empowered to support closing the retirement savings gap across the country
- Look for the better way - At Vestwell, you’ll be continuously challenged to find better solutions to address industry norms. We are on the road to revolutionizing workplace savings programs and look to our team of innovators to lead the way
- Embrace the difficult - Vestwell is on a mission to do great things, and the only way to get there is by taking on some incredibly complex challenges. We believe in embracing the difficult to ensure the largest positive impact for our industry, clients, and partner
- Help me, help you, help us - We build relationships based on trust, equality, respect, and support. Our unique blend of diverse perspectives allows us to grow authentically while sharing a common connection to our goals, mission, and vision
Company HQ
Garment District, New York, NY
Articles
Leadership
Aaron Schumm
(CEO)Studied Finance at GIES College of Business and then received an MBA from Duke. Head Equity Research at financial advisory firm Dillon Scott Securities, Product Manager at Fiserv, VP of Product Marketing at Citi.
People progressing
Joined as SVP Finance & HR in August 2017. Was made CFO in January 2020.
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