Sr Associate, Wealth Strategies

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.

The Sr Associate position is a client development and lead producing role for Northern Trust’s wealth management business.  In that regard, the Sr Associate partners with the Wealth Strategists in all aspects of the new business process relating to identification of potential prospects and generating new trust and investment business.

The goal is to develop the Sr Associate, Wealth Strategies by providing the Sr Associate with skills training and mentorship during the Sr Associate’s tenure in the role.  During this time, the Sr Associate will obtain a strong understanding and knowledge of investment management, fiduciary and financial planning matters and will increase his or her community involvement and expand his or her public profile.

Primary duties will include collaborating with the Wealth Strategists in seeking prospects (including active calling efforts); researching and uncovering potential prospects; preparing materials for client meetings and new business presentations; coordination of sales activities around seminars, COI cultivation, participation in community and bank sponsored events; reviewing new business documentation, and ensuring that the sales process is proactive and timely.

More specific activities of the role include:

1. Researches prospects through Factiva and Lexus Nexis. Prepares materials (i.e. letters, agreements, marketing updates) for prospect, COI or client meetings and presentations.

2. Compiles reports for prospects, COI or client meetings and presentations.

3. Makes necessary arrangements for prospect, COI or client meetings involving travel, audio-visual aides, seminar/lunch/dinner reservations, meetings, seminars, etc.

4. Performs special projects (i.e. coordinating reports, preparing account analysis and workflow reports) that require responding to specific account inquiries and issues.

5. Work with prospect database to implement proactive DRIP campaign to convert leads into prospects. Set up files on new business prospects.

6. Reviews and organizes all asset/family information and trust documents to assess the bank's appointment status, and any discrepancies between documents. Reviews all correspondence and accompanying documentation from prospects and attorneys to assimilate all possible information about new business opportunity.

7. Submits account documents to the legal area and external attorneys after inspecting them to ensure adherence to established guidelines and to obtain missing information, correct documents, clarify information, and resolve problem situations.

8. Works with Wealth Strategists to maintain active prospect files and reminders to initiate calls for making forward progress.

9. Composes letters to prospective clients and follows up with telephone calls to arrange meetings.

10. Communicates with partner areas on all aspects of a prospect/client relationship and initiates activity which fulfills a partner's or client's needs.

11. Responds to individual prospects’/clients' inquiries and respond through written correspondence or via telephone.

12. Develop 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). Attend meetings and classes to keep abreast of personal financial planning products and services.

Qualifications:

Undergraduate Degree or equivalent sales support experience.

Strong technical skills: PowerPoint, Word, Excel, etc.

Excellent oral and written communication skills are required.

Organizational and technical skills are necessary to prepare materials for prospect and COI meetings and presentations.

Analytical, organizational and sales skills are required to proactively manage the sales process. Interactive skills are required to understand prospect needs and respond with the appropriate solutions.

Basic knowledge of personal financial planning, trust and investment products and services are a plus.

Knowledge of fiduciary products and services (e.g. personal trusts, living trusts, wills, investment management, security custody, financial consu