Senior Relationship/Trust Advisor, WM

About the role

The Senior Relationship Advisor II, Wealth Management position at Northern Trust is responsible for managing complex wealth management high net worth (HNW) and ultra-high net worth (UHNW) client relationships. This role involves delivering high-quality fiduciary and administrative services, collaborating with other members of the service team, and coordinating with client's professional advisors to identify and implement advisory solutions.

Responsibilities

• Manage 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 clear knowledge of governing documents and account agreements, 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.
• Pursues ongoing development of fiduciary and advisory knowledge and skills through training and experience.
• Primarily responsible for leading client conversations for life driven wealth management, providing proactive advice to clients on NT’s products/services, emerging issues, regulatory/tax changes, and appropriate actions for the client.
• Maintains a working knowledge of various NT resources and utilizes fiduciary knowledge, experience, and NT resources to identify opportunities for relationship enhancement.
• Proactively builds and maintains knowledge of NT fiduciary standards and practices, applies fiduciary knowledge and judgment to fiduciary relationships.
• Recognizes fiduciary risk issues and seeks appropriate resolution.
• 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.
• Travels to meet with clients where appropriate considering revenue, new business opportunities, or servicing requirements.
• Teaches and mentors less experienced partners.
• Provides leadership on fiduciary projects and committees.
• Works collaboratively with internal partners and external professional advisors in identifying client needs and goals and developing advice-driven solutions for clients.
• Implements complex initiatives involving multiple disciplines and/or ambiguous issues.

Requirements

• 12 - 15 years’ experience as a relationship manager in trust administration, estate administration, estate planning, or related fields.
• Experience in working with high net worth (HNW) and ultra-high net worth (UHNW) clients is preferred.
• Experience managing a complex portfolio of over a million and/or billion in account under management (AUM).
• Knowledge of fiduciary and financial products and services, usually acquired through related work experience.
• Technical knowledge of investments, tax, legal, and operations usually acquired through formal education or related experience.
• Knowledge of fiduciary standards, principles, and applicable laws and regulations usually acquired through training, seminars, or law school.
• Skills in negotiating, problem solving, delegating, leadership, and sales are necessary to service the client relationship.
• A JD, and/or a CFP, CPWA and other related professional designations are strongly desired for this role.
• Leadership and organizational skills are required to determine the Business Unit's goals, resources needed, and to assess and develop the skills of staff.

Qualifications

• Education: Bachelor's degree in finance, economics, accounting, or a related field.
• Experience: 12 - 15 years’ experience as a relationship manager in trust administration, estate administration, estate planning, or related fields.
• Technical Knowledge: Technical knowledge of investments, tax, legal, and operations usually acquired through formal education or related experience.
• Licenses/Certifications: A JD, and/or a CFP, CPWA and other related professional designations are strongly desired for this role.

Skills

• Negotiation
• Problem Solving
• Delegation
• Leadership
• Sales

Benefits

At Northern Trust, we offer competitive compensation and benefits packages that include:

• Health insurance
• Retirement plans
• Employee assistance programs
• Flexible spending accounts
• Life and disability insurance
• Professional development opportunities

Pay

Compensation for this role is commensurate with experience.

Schedule

This role requires travel to meet with clients where appropriate, considering revenue, new business opportunities, or servicing requirements.