Trust Advisor IV - Ultra High Net Worth
Our Strategic Alliance is a professional collaboration between two great financial firms. Our alliance allows clients to take advantage of Comerica Bank & Trust, N.A.'s professional trust administration capabilities, as well as the services of their Financial Advisor, delivered through a customized, service-driven model. The Trust Advisor IV in our Advisor Solutions group, is responsible for serving as relationship manager for Ultra High Net Worth (UHNW) relationships by providing insight to specific trust documents, overseeing overall estate planning, and working directly with our Financial Advisor partners. This role's direct involvement in business development is expected to contribute to the achievement of the annual net new business goal for the division. Position Competencies
Successful incumbents possess effective communication skills, problem solving skills, appropriate functional and technical skills, the ability to multitask, meet service standards and are focused on the customer.
- Manages Ultra High Net Worth relationships in accordance with the terms of the various governing documents, applicable law, and consistent with the needs of the principals, income beneficiaries, and remaindermen.
- Reviews, analyzes and interprets documents for direction; evaluates accounts for completeness and accuracy, monitors and reviews account transactions, responds to incoming correspondence and any other client requests to ensure compliance with the governing document, applicable law and policies and procedures.
- Works with the Regional Manager in developing solutions to most issues brought forth by principals, income beneficiaries and remaindermen such as requests for special distributions, fee issues or disputes.
- Oversees the opening and closing of accounts, ensures the receipt of proper and legally required documentation, ensures the full and complete transfer of assets, their cost basis, and the proper characterization of cash as income or principal, ensures all tax codes and account administration codes are accurate and oversees tax reporting activities, coordinating with outside CPAs and advisors.
- Provides comprehensive wealth planning advice to clients. May participate in projects which affect the broader business and improves efficiency of delivery of services to clients.
- Communicates directly with our Financial Advisor partners, clients, and internal business partners. Providing timely updates on all account related activity and responding quickly to requests.
- Works with Fiduciary Strategists to develop new business through our partners. Develops referrals through their centers of influence.
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