Senior Relationship/Trust Advisor, WM

Northern Trust•Bloomfield Hills, MI

2d•Onsite

About The Position

Northern Trust, a Fortune 500 company, is a globally recognized financial institution operating since 1889, providing innovative financial services and guidance to successful individuals, families, and institutions. With over 130 years of experience and more than 22,000 partners, Northern Trust serves sophisticated clients using leading technology and exceptional service. The Senior Relationship Advisor manages complex wealth management relationships for high net worth (HNW) and ultra-high net worth (UHNW) clients, delivering high-quality fiduciary and administrative services. This role is primarily responsible for overall client satisfaction, achieved by collaborating with service teams and Northern Trust resources to ensure timely service delivery, issue resolution, effective communication of client needs, and coordination with professional advisors to implement advisory solutions.

Requirements

12 - 15 years’ experience as a relationship manager in trust administration, estate administration, estate planning, or related fields.
The ability to manage 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, needed to manage client accounts.
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.
Leadership and organizational skills are required to determine the Business Unit's goals, resources needed, and to assess and develop the skills of staff.

Nice To Haves

Experience in working with high net worth (HNW) and ultra-high net worth (UHNW) clients is preferred.
A JD, and/or a CFP, CPWA and other related professional designations are strongly desired for this role.

Responsibilities

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 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.
Explains complicated concepts to clients in a thoughtful way using non-technical terminology and offers advisory solutions.
Maintains a working knowledge of various NT resources and utilizes fiduciary knowledge, experience, and NT resources to identify opportunities for relationship enhancement.
Proactive client service with responsiveness, diplomacy and tact, using written and verbal communication with suitable frequency.
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.
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.
Work 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.