Senior Relationship Advisor, Wealth Management

Northern Trust•Chicago, IL

1d•$164,600 - $288,000

About The Position

The Senior Relationship Advisor manages complex wealth management relationships with high-net-worth and ultra-high-net-worth clients, delivering fiduciary and administrative services. The role takes primary responsibility for client satisfaction, working with service teams and Northern Trust resources to provide timely service, resolve issues, communicate client needs, and coordinate with clients’ professional advisors to identify and implement advisory solutions. The advisor manages an assigned client account base and develops a thorough understanding of clients’ needs and goals. The position requires knowledge of governing documents, account agreements, fiduciary duties and applicable laws, including trust and tax law, as well as estate planning, financial planning, asset management, and prudent investment principles. The advisor continues to develop fiduciary and advisory knowledge through training and experience. The role leads client conversations about life-driven wealth management, proactively advising clients on Northern Trust products and services, emerging issues, regulatory and tax changes, and appropriate actions. It explains complex concepts in accessible language, offers advisory solutions, and uses knowledge of Northern Trust resources to identify opportunities to enhance relationships. The advisor provides responsive service with diplomacy and tact through appropriate written and verbal communication. The advisor applies fiduciary standards and judgment, complies with internal policies and procedures, manages risk, and identifies and seeks resolution of fiduciary risk issues. The position also builds relationships with referral sources and external professional advisors, develops new business opportunities, represents Northern Trust in community and professional organizations, and helps showcase the firm’s expertise and thought leadership. Travel to meet clients may be required when appropriate for business development or servicing needs. The Senior Relationship Advisor mentors less experienced partners, leads fiduciary projects and committees, collaborates with internal partners and external professional advisors to develop advice-driven client solutions, and implements complex initiatives involving multiple disciplines or ambiguous issues. The role also requires leadership and organizational skills to determine business unit goals and resource needs and to assess and develop staff skills.

Requirements

12–15 years of experience as a relationship manager in trust administration, estate administration, estate planning, or a related field.
Knowledge of fiduciary and financial products and services, typically acquired through related work experience.
Technical knowledge of investments, tax, legal matters, and operations, acquired through formal education or related experience.
Knowledge of fiduciary standards, principles, and applicable laws and regulations, acquired through training, seminars, or law school.
Negotiation, problem-solving, delegation, leadership, and sales skills.
Leadership and organizational skills to determine business unit goals and resource needs and to assess and develop staff skills.
Authorization to work in the United States without current or future employment-based visa sponsorship.

Nice To Haves

Experience working with high-net-worth and ultra-high-net-worth clients.
Ability to manage a complex portfolio of over a million and/or billion in assets under management.
A JD and/or CFP, CPWA, or other related professional designation.

Responsibilities

Manage complex high-net-worth and ultra-high-net-worth wealth management client relationships and assigned account portfolios.
Take primary responsibility for client satisfaction and coordinate service delivery, issue resolution, communication, and collaboration with clients’ professional advisors.
Understand clients’ needs and goals, governing documents, account agreements, fiduciary duties, and relevant laws and financial principles.
Lead client conversations about life-driven wealth management and proactively advise clients on products, services, emerging issues, regulatory and tax changes, and appropriate actions.
Explain complex concepts in non-technical language and provide advisory solutions.
Provide proactive, responsive client service with diplomacy and tact through written and verbal communication.
Apply fiduciary standards and judgment, comply with internal policies and procedures, manage risk, and seek resolution of fiduciary risk issues.
Cultivate referral-source and professional-advisor relationships, identify new business opportunities, and represent Northern Trust in professional and community organizations.
Travel to meet clients when appropriate for business development or servicing requirements.
Teach and mentor less experienced partners and provide leadership on fiduciary projects and committees.
Collaborate with internal partners and external professional advisors to identify client needs and develop advice-driven solutions.
Implement complex initiatives involving multiple disciplines or ambiguous issues.
Help determine business unit goals and resource needs and assess and develop staff skills.