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Job Details

Wealth Strategist

Job Summary

  • Company: The Northern Trust Company
  • Location: New York, New York (New York City)
  • Job Type: Full-Time
  • Education Level: Bachelor's (BA/BS)
  • Career Level: senior
  • Years of Experience: 10-15 years

Job Description

As a Senior Wealth Strategist for the Northern Trust New York office you will be responsible for identifying and building high-quality client relationships within the ultrahigh net worth market through direct prospecting, cultivation of both internal referral sources and external sources, and creative networking with key influencers. The Wealth Strategist will need to profile and create strategies specific to prospective clients as well as educate and advise prospects on a wide range of solutions to help them address their specific issues and meet their objectives. He/she will need to effectively communicate to potential clients - and the community in general - the Northern Trust culture, PFS delivery model, investment philosophy, and range of investment and non-investment solutions that are relevant to the prospect.

Skills: Knowledge/Skills

Knowledge of fiduciary products and services (e.g. personal trusts, living trusts, wills, investment management, security custody, financial consulting, estate planning), including fee structures and documentation, acquired through work experience is required to respond to the issues that arise during sales calls. Knowledge of federal, state, and local laws and regulations that apply to personal fiduciary, and estate and tax planning services acquired through formal education and work experience is required to consult with clients. Analytical and sales skills are required to relate individual customer asset situations to specific products. Interactive skills are required to comprehend prospect needs and respond with the appropriate solutions.

Major Duties

1. Sells bank products and services to individuals focusing on trust and investment management products.

2. Utilizes business and personal contacts as well as area files to identify prospective clients. Develops a perspective on individual client situations to use as a vehicle for selling products.

3. Assumes responsibility for complex and sensitive client and account activities as assigned by manager.

4. Researches prospects' financial picture and possible needs to determine how to best provide

5. Develops rapport with prospects and arranges meetings to continue the sales process. Presents bank product materials to prospective client or designated liaison (e.g. attorney, CPA, etc.).

6. Responds to questions, consulting bank partners for additional product/service information when necessary. Conducts additional prospect analysis to further determine services.

7. Consults with clients and their attorneys on the benefits of estate planning products/services. Analyzes property/assets, and develops alternatives (e.g. creation of living or insurance trusts).

8. Consults with clients, their attorneys, and other financial advisors to determine the appropriate plan for estate taxes. Utilizes knowledge of inheritance gift, income, and estate taxes to sell services to clients.

9. Summarizes account assets to determine eligibility, qualifications, and tax classification.

10. Maintains current in-depth knowledge of a full range of trust-oriented services (e.g. personal trusts, living trusts, wills, investment management, security custody, financial consulting, estate, and tax planning).

11. Develops and maintains an understanding of all applicable federal, state, and local laws and regulations pertaining to fiduciary services and estate and tax planning to ensure the compliance of financial planning activities.

12. Initiates and follows through on any request for loan, checking, or savings account services by contacting banking and operations areas as appropriate.

13. Maintains periodic contact with client and acts as a liaison between the client and the rest of the bank for various activities (e.g. setting up accounts, facilitating transactions).

14. Cross-sells relationship improvement opportunities to existing clients by providing
pertinent client update information to partners within appropriate areas of the bank.

15. Sets personal sales goals with manager based on sales history and product knowledge.

16. Represents personal financial planning in various business councils and task forces, (e.g. personal fiduciary service, investment management, financial consulting).

17. Participates in related seminars/presentations and product knowledge training for bank partners.

Experience: Candidates should have a minimum 7+ years of experience as trust and investment sales/rainmaker/business development executive. Must have demonstrated track record of successfully selling to ultra high net worth clients. Professional designations such as MBA, CFP, CFTA, CFA, JD, Series 63, 66, CIMA are strongly preferred.

About us:
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 85 offices in 18 U.S. states and has international offices in 15 locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2009, we have US$78 billion in banking assets, US$3.6 trillion in assets under custody and US $610.5 billion in assets under management. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology.

The quality of all Northern Trust partners, performing as individuals and working together as teams, clearly distinguishes us from our competition. A diversified workforce is one of our strongest assets to best serve our clients, investors, public and company.


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