The Wealth Management Senior Trust Advisor role manages complex wealth management client relationships and delivers high quality fiduciary services. Partner assumes primary responsibility for overall client satisfaction as the relationship manager by collaborating with the service team and appropriate NT resources to ensure timely delivery of high quality fiduciary service, issue resolution, effective communication of client needs to partners, and coordination with client’s professional advisors to identify and implement advisory solutions.
1. Manages assigned account base of wealth management clients by working with client service team, clients and their professional advisors to develop a thorough understanding of the client’s needs and goals. Exhibits thorough knowledge of governing documents and account agreements. Exhibits depth of knowledge of fiduciary duties and applicable laws, including trust and tax law, estate planning techniques, financial planning, asset management and prudent investment principles. Seeks continued development of fiduciary and advisory skills through training and experience.
2. Primarily responsible for leading client conversations for life driven wealth management. Provides proactive advice to clients on NT’s products/services, emerging issues, regulatory/tax changes, and appropriate actions for the client. Combines technical knowledge with fact finding and analysis to develop advice-driven solutions for clients. Explains complicated concepts to clients in a thoughtful way using non-technical terminology. Maintains a working knowledge of various NT resources and utilizes fiduciary knowledge, experience, and NT resources to identify opportunities for relationship enhancement.
3. Focused client service with responsiveness, diplomacy and tact; proactive client contact through written and verbal communication with suitable frequency. Exhibits excellent time management skills.
4. Builds and maintains knowledge of NT fiduciary standards and practices, applies fiduciary knowledge and judgment to fiduciary relationships. Understands and complies with internal policies, processes and procedures to effect prudent risk management and judgment. Recognizes fiduciary risk issues and seeks appropriate resolution.
5. Cultivates relationships with referral sources and external professional advisors to build the business; identifies and develops new business opportunities. Participates in community and professional organizations representing NT. Identifies opportunities to showcase NT expertise and thought leadership.
6. Travels to meet with clients where appropriate considering revenue, new business opportunities, or servicing requirements.
7. Teaches and mentors less experienced partners. Provides leadership on fiduciary projects and committees. Work collaboratively with internal partners and external professional advisors in identifying client needs and goals and developing advice-driven solutions for clients.
8. Seasoned multi-disciplinary expert with extensive technical and / or business knowledge and functional expertise
9. Focus of role is on execution of strategic direction of business function activities
10. Carries out complex initiatives involving multiple disciplines and/or ambiguous issues
11. Displays a balanced, cross-functional perspective, liaising with the business to improve efficiency, effectiveness and productivity
Candidate should have 7-10 years’ experience as a relationship manager in trust administration, estate administration, estate planning, or related fields working with ultra high net worth clients. JD, LLM in Taxation, CFTA, and or CFP or MBA are strongly preferred. Demonstrated success in business development and excellent client servicing skills are also required.
For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 16,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.
We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.
As of September 30, 2017, Northern Trust Corporation had:
$131 billion in banking assets
$7.8 trillion in assets under custody
$9.7 trillion in assets under custody/administration
$1.1 trillion in assets under management