Financial Planner & Trust Officer
The Certified Financial Planner & Trust Officer provides Wealth Management services to high net worth clients of the Bank in conjunction with the entire Wealth Management Team. The Officer is responsible for the development of long-term financial plans for clients; recommending financial products and services which support the requirements of the financial plan and the needs of the customer. The Officer is also responsible for the administration of trust, not-for-profit, personal investment management, employee benefit and IRA accounts. This includes managing all accounts in accordance with applicable legal and regulatory requirements, bank policies and procedures, and in conjunction with internal team members and external service providers as appropriate. This position carries Title of VP.
- Lead the planning function to further the Departments long-term strategic goals and progress toward key planning and client experience initiatives.
- Own and drive the financial planning process which includes designing, analyzing and presenting customized plans tailored to each clients facts and circumstances. Areas of emphasis to include goal analysis, estate planning, education planning, charitable giving, tax issues, insurance planning needs and social security.
- Manage the financial planning process and workload. Responsibilities will include meeting preparation, financial plan construction, direct client contact, meeting follow-up and client service.
- Serve as the subject matter expert, staying current on planning issues. Also serve as the expert regarding the financial planning software, as well as Excel and Power Point, and cash flow analysis programs in order to provide analysis of a clients current and future financial picture.
- Develop financial plans for clients, and recommend products and services which support the long-term planning needs and goals of the client. Review all final versions of financial plans prior to client presentations. Provide feedback for improvement and efficiencies to the planning deliverable. Review software enhancements and upgrades as needed.
- Responsible for maintaining strong relationships in order to retain existing clients; track their successes and keep them informed about any changes that may affect their finances.
Business Development & Client Presentation
- Optimize opportunities to grow assets under management through the financial planning process. Add assets held away to existing account relationships and develop retention strategies for at risk accounts.
- Seek, identify and approach new prospects and establish strong relationships with new clients as their trusted advisor.
- Contribute to new business goals by developing new sales opportunities through a variety of different channels both internally and externally. Collaborate with colleagues throughout the Bank to solicit and develop new client relationships and cross sell opportunities among clients. Educate and conduct referral training sessions where necessary.
- Work with team members to prepare marketing presentation materials to perform business development activities.
- Drive business development through community exposure and professional networks.
Trust & Account Administration
- As the primary account officer, responsible for maintaining client relationships, managing all of the administrative and fiduciary functions in each of the accounts assigned pursuant to applicable laws, regulations, policies, procedures and in accordance with trust and account documents for designated accounts.
- Provide quality service and communicate with clients; schedule and attend client meetings. Resolve client issues promptly, incorporating appropriate council – legal and /or accounting as necessary.
- Work with the fiduciary officer to advise clients in fiduciary administration, financial, tax and estate planning. Review trust documents and provide a summary of trust powers and potential items of concern.
- Develop and maintain liaison with attorneys, accountants, and other professionals.
- Work with the team regarding calculation of distributions for trusts, IRA’s, and not-for-profit clients. Process discretionary distribution requests for trust relationships and submit to discretionary subcommittee when applicable.
- Perform administrative account reviews for all designated accounts on an annual basis. Review client and Bank documentation for compliance, consistency and appropriate execution. Take corrective action and obtain additional documentation as necessary.
- Participate as an active member in the Trust Administrative Committee (TAC) and Trust Investment Committee (TIC).
- Maximize the use of the SunGard operation system; Serves as the expert regarding the system to the support staff.
- Team Development: motivate personnel and promote workplace enthusiasm; provide opportunities for professional growth through education/training; provide the tools/skills (cross train) necessary for employee growth at USB.
- Perform the following HR processes: performance/incentive/introductory period reviews, career development, training, disciplinary/corrective actions.