Trust advisor

Job Description

Trust Estate Officer IV

The Trust Estate Officer IV serves as a relationship manager to larger and more complex relationships providing comprehensive wealth management advice and counsel on a broad array of wealth planning issues.

This position will act as the fiduciary resource for a specific area of account administration and will ensure proper management and administration for a large variety of assigned accounts adhering to applicable laws and regulations as well as complying with all requisite policies and procedures.

Position will act as the intermediary to the organization on behalf of clients and coordinate service activities with other areas of the organization.

The position'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 integrity and trust, attention to detail, listening skills, problem solving skills, ability to work independently, great analytical skills and interpersonal business communication skills, strong writing and verbal communication skills and the ability to coach and guide staff members.

Position Responsibilities :

• Manages the larger and more complex accounts in accordance with the terms of the various governing documents, applicable law, and consistent with the needs of the principals and income beneficiaries.
• 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
• Ensures application of the Consultative Investment Management Process to accounts for which Comerica exercises investment discretion.

This includes 1) the use of Planning Station's cash flow analysis (where applicable), 2) the completion of a current risk tolerance questionnaire and resulting asset allocation analysis, 3) obtaining an executed Investment Policy Statement, and 4) participate in the review of an investment proposal, as appropriate for the account.

• Responds to client inquiries and coordinates the implementation and review of investment programs
• Independently resolves most issues brought forth by principals, income beneficiaries, and remainder men 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
• Oversees tax reporting activities, coordinating with outside CPAs and advisors
• Oftentimes manages large family relationships and multigenerational trusts
• Provides comprehensive wealth planning advice to clients, ensuring the 13 Wealth Management issues are appropriately addressed.
• Discusses tax strategies, financial planning / retirement planning / educational planning strategies, and wealth transfer strategies.
• Coordinates the delivery of services with other professionals assigned to the client team or from within the organization, ensuring appropriate customer service in meeting the financial needs of the clients.
• Coordinates with client's other advisors, as appropriate.
• Develops new business through referrals from external and internal centers of influence and / or through expansion of business within current book of clients.
• Attends meetings and external presentations with referral sources to encourage business exchange.
• Stays current on fiduciary / tax / legal changes that effect a client's wealth plan or administration of accounts.
• Participates in projects which affect the broader business and improves efficiency of delivery of services to clients.
• May supervise direct reports in day to day support activities.

Last updated : 2024-05-07