Associate Relationship Advisor, Wealth Management

Northern Trust • Cleveland, OH

4d • Onsite

About The Position

About Northern Trust: Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889. Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service. This is an office-based position and for the effective performance of this role, the duties and responsibilities must be carried out onsite. ASSOCIATE RELATIONSHIP ADVISOR, WEALTH MANAGEMENT The Associate Relationship Advisor role is hybrid role that includes client facing responsibilities, ownership of strategic growth initiatives, and selected office management responsibilities. For client facing responsibilities, this role is a transitional role from Account Manager to Relationship Advisor and encompasses responsibilities for both. Under general supervision (but working independently most of the time) partner assumes responsibility for overall client satisfaction on a limited number of accounts where the partner serves as lead Relationship Advisor by collaborating with the service team and appropriate NT resources to ensure timely delivery of high quality account service, issue resolution, effective communication of client needs to partners, and development of advisory relationship with client. In addition to client facing work, this role supports the growth of the Ohio practice by assuming responsibilities for high priority initiatives and projects including our business owner prospecting initiatives, our Client Advisory Board program, and all client and prospecting events. The role will also assume responsibilities for selected office management activities as needed. Specific responsibilities include: Client Facing Responsibilities: Coordinates account management by ensuring prompt execution and follow-up; responds to partner and client service requests by obtaining necessary information and documentation, communicating with client and vendors as required for resolution of issues; executes daily client activity; ongoing written and verbal communication with clients as appropriate in managing daily activity. Develops and maintains working knowledge of governing documents and account agreements Focused client service with responsiveness, diplomacy and tact; proactive client contact through written and verbal communication with suitable frequency. Exhibits excellent time management skills. Maintains a working knowledge of various NT resources and utilizes knowledge, experience, and NT resources to identify opportunities for relationship enhancement; works collaboratively with internal partners and external advisors in identifying client needs and solutions. Over time, Partner assumes responsibility of a limited number of accounts where the partner serves as a lead Relationship Advisor managing assigned account base with wealth management clients by collaborating with client service team, clients and resources to ensure timely delivery of high-quality account service, issue resolution, effective communication of client needs to partners, and development of advisory relationship with client including: Managing assigned account base of wealth management clients by working with clients and their advisors to develop a thorough understanding of the client’s needs and goals. Exhibits working knowledge of agency account agreements and governing documents. Exhibiting working knowledge of Advisory Practice services/offerings (including estate and financial planning), capital markets, banking products/offerings, asset management and prudent investment principles. Exhibiting developing knowledge of fiduciary duties and applicable laws, including trust and tax law, asset management and prudent investment principles. Once trained, exhibits knowledge of goals driven wealth management and holistic advice and ability to begin delivering to clients and prospects. Assisting service team partners with business development, including preparing and making client presentations; cultivates relationships with referral sources and centers of influence to build the business; identifies and develops new business opportunities. Seeks continued development of advisory skills through training and experience. Growth Initiative Responsibilities: Responsible for the creation and execution of the “Business Owner Development” strategy Owns the creation and execution of the Client Advisory Board program Identifies opportunities to improve client satisfaction through the tools like the Client Satisfaction Survey Shares in the various office management responsibilities with other associates

Requirements

• High attention to detail and task oriented to ensure flawless execution on complex client relationships
• High EQ required to effectively communicate with clients across broad personalities and to effectively navigate across organizational boundaries
• Strong project management and analytical skills
• Ability to explain complex information to others in straightforward manner
• Knowledge of fiduciary products and services (e.g. personal trusts, living trusts, wills, investment management, security custody, financial consulting, estate planning), including fee structures, documentation, policies and procedures usually acquired through work-related instruction or work experience is required to respond to account related matters and various sales situations.
• General business knowledge, including knowledge of accounting usually acquired through coursework, is required to oversee client transactions.
• Understands key business drivers; uses this understanding to accomplish own work
• Developing knowledge of investments, advisory relationships, estate planning, financial planning, capital markets, banking, and operations usually acquired through formal education, or related experience is required to service clients and administer accounts
• College or university degree and/or relevant proven work experience with client relationships and wealth planning is required
• Trust system computer skills preferred as well as skills in PowerPoint, Word, and Excel

Nice To Haves

• 5 years in wealth management industry is preferred

Responsibilities

• Coordinates account management by ensuring prompt execution and follow-up
• responds to partner and client service requests by obtaining necessary information and documentation, communicating with client and vendors as required for resolution of issues
• executes daily client activity
• ongoing written and verbal communication with clients as appropriate in managing daily activity.
• Develops and maintains working knowledge of governing documents and account agreements
• Focused client service with responsiveness, diplomacy and tact
• proactive client contact through written and verbal communication with suitable frequency.
• Maintains a working knowledge of various NT resources and utilizes knowledge, experience, and NT resources to identify opportunities for relationship enhancement
• works collaboratively with internal partners and external advisors in identifying client needs and solutions.
• Managing assigned account base of wealth management clients by working with clients and their advisors to develop a thorough understanding of the client’s needs and goals.
• Exhibiting working knowledge of agency account agreements and governing documents.
• Exhibiting working knowledge of Advisory Practice services/offerings (including estate and financial planning), capital markets, banking products/offerings, asset management and prudent investment principles.
• Exhibiting developing knowledge of fiduciary duties and applicable laws, including trust and tax law, asset management and prudent investment principles.
• Assisting service team partners with business development, including preparing and making client presentations
• cultivates relationships with referral sources and centers of influence to build the business
• identifies and develops new business opportunities.
• Seeks continued development of advisory skills through training and experience.
• Responsible for the creation and execution of the “Business Owner Development” strategy
• Owns the creation and execution of the Client Advisory Board program
• Identifies opportunities to improve client satisfaction through the tools like the Client Satisfaction Survey
• Shares in the various office management responsibilities with other associates

Benefits

• Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits.
• Northern Trust also provides a discretionary bonus program that may include an equity component.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees