Additional Information
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.
The Associate Relationship Advisor role is a transitional role from Account Manager, Wealth Management Advisory 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 Northern Trust (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. Role supports other service team client relationships by coordinating account management.
Key responsibilities include:
1. 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
2. Manages 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. Exhibits working knowledge of Advisory Practice services/offerings (including estate and financial planning), capital markets, banking products/offerings, asset management and prudent investment principles. Exhibits 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
3. 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
4. Focused client service with responsiveness, diplomacy and tact; proactive client contact through written and verbal communication with suitable frequency. Exhibits excellent time management skills
5. Assists 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
6. Seeks continued development of advisory skills through training and experience.
7. Looks to grow existing book of business, new relationships and establishing connectivity with centers of influence (COIs).
KNOWLEDGE/SKILLS
- Knowledge of financial products, operations and accounting systems usually acquired through related experience
- 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
- Emerging knowledge of fiduciary standards and practices
- Analytical, negotiating, problem solving and sales skills are necessary to effectively service the client relationship
- Ability to explain complex information to others in straightforward manner
Ntrs · Chicago, IL