Fiduciary Wealth Advisor

Fiduciary Wealth Advisor

The Fiduciary Wealth Advisor's role is to serve as the relationship manager for a diverse network of clients as well as manage fiduciary accounts and relationships. These relationships may consist of estates, trusts, investment management, custody, IRA and escrow accounts. This position requires a broad and deep understanding of sophisticated wealth management practices and investment strategies. The Fiduciary Wealth Advisor actively participates in the retention of existing clients, including assisting in the preparation and presentation of client proposals. The ideal candidate will be able to operate in a semi-autonomous and entrepreneurial environment while maintaining a sales and client-centered focus.

RESPONSIBILITIES :

• Responsible for team initiatives, including participation in joint prospect and client meetings and responding to inquiries as appropriate
• Ability to discuss investment performance, economic and financial market trends with ultra-high net worth clients which can be individuals, families or institutions
• Manage client relationships and meet with clients (on and off Bank premises) on a quarterly basis, or as needed, to review portfolio performance and present appropriate recommendations to address their continued needs.
• Actively seek and develop leads and referrals from current clients and outside contacts. Prospect for new clients by asking for referrals from existing clients.
• Cultivate a network through social contacts and community participation by developing a network of external Centers of Influence to help drive referral opportunities
• Prepare and present sales materials to prospective clients
• Implement financial products and services offered through the Wealth Management platform; recommend changes when necessary
• Maintain the internal contact management database and monitor the frequency of client and prospect contact
• Foster open communication with other Bank departments. Develop relationships with internal partners for cross referral opportunities.
• Engage in fiduciary decision making through account management of client trust accounts according to each of the legal document directives.
• Handle risk management and resolution of legal and compliance issues by ensuring that internal compliance and proper documentation requirements are met consistent with internal fiduciary policies and procedures regarding the Trust documents including discretionary actions and all other Bank policies and guidelines. Escalate issues or concerns as needed.
• Perform daily account oversight on various functions pertaining to client accounts such as overdrafts, check issuances, payments of client bills, etc.
• Review pertinent account information on the trust accounting system daily such as cash balances, ensure accuracy of posted transactions. Troubleshoot and resolve any findings.
• Prepare or oversee annual or quarterly account reviews for each account.
• Review performance of investments with the assigned portfolio manager for each account to insure proper investment allocations and profitability
• Maintain relationships and grow assets under management by working with current and remainder beneficiaries for future business potential.
• Prepare, analyze and present requests for all discretionary matters related to their accounts to the Wealth Management Committee according to Trust documents and regulatory guidelines
• Ensure audit exceptions and out of compliance items are managed monthly within appropriate timeframe allowed on each situation
• Stay abreast of current federal and state regulations applicable to taxation and other Trust management related areas as well as changes to the same

Qualifications

KEY COMPETENCIES :

Essential Functions :