Trust Advisor

Choate, Hall & Stewart LLP; Boston (MA); On-site; USD 120,000 - 185,000; Full time

Job summary

Choate, Hall & Stewart LLP seeks a Trust Advisor to work with multi-generational families and administer accounts including trusts, IRAs, investment management accounts, foundations, and partnerships. The role involves direct contact with family members, collaboration with Wealth Management Group, and day-to-day account administration.

The position requires a background in finance/accounting or law, strong tax and investment knowledge, and at least 3 years of experience with high-net-worth

Qualifications

• Financial, accounting, or legal background including a related degree required.
• Strong understanding of income taxes and investments including partnership, trust, estate planning, and estate/gift tax knowledge.
• Minimum of 3 years of experience working with high-net-worth clients required.
• Demonstrated commitment to confidentiality and the ability to handle sensitive information discreetly, with an understanding of when to appropriately elevate matters.
• Able to work well with a wide range of personalities.
• Complex project management skills along with the ability to work on multiple teams and several projects at one time.
• Professional demeanor and presentation consistent with a professional office environment.
• Strong analytical skills and the ability to draft complex reports and spreadsheets.
• Strong Excel skills and a proficient user of MS Office Suite; adaptability to learn and become expert in new applications with limited formal training.

Responsibilities

• Assist Trustees with administrative decisions; ensure that assigned accounts are administered in accordance with their document terms.
• Frequent direct contact with multiple generations of family members in person and via phone and email.
• Support the Wealth Management Group partners and clients on a range of subjects including financial, personal, and estate planning matters.
• Monitor cash flow and perform budget analysis. Assist family members with general financial planning decisions. Coordinate specialized reporting as required.
• Coordinate account activity, including, but not limited to, receipts and disbursements related to assets and beneficiary needs, opening, funding, and closing accounts and facilitating charitable and non-charitable gifts.
• Oversee asset custody (at Choate and outside institutions). Coordinate with external advisors and family consultants.
• Monitor cash levels in accounts to ensure that all client needs can be met at all times.
• Ensure that inter-departmental communication is effective and that all account information is relayed and processed in accordance with established protocols. Coordinate service with other Wealth Management Group departments: investments, tax, operations and legal.
• Assume additional duties as assigned.

Skills

Client communication

Confidentiality

Project management

Analytical skills

Advanced Excel

Attention to detail

Team collaboration

Education

Finance/accounting/legal background

Tools

Excel

MS Office Suite

Job description

Job Summary:

Trust Advisors work with multi-generational families with diverse needs and administer accounts including trusts, IRAs, investment management accounts, foundations, and partnerships, functioning as family investment funds. Trust Advisors are supported by Trust Coordinators to facilitate the day-to-day administration of accounts.

Job Functions:

• Assist Trustees with administrative decisions; ensure that assigned accounts are administered in accordance with their document terms.


• Frequent direct contact with multiple generations of family members in person and via phone and email.


• Support the Wealth Management Group partners and clients on a range of subjects including financial, personal, and estate planning matters.


• Monitor cash flow and perform budget analysis.Assist family members with general financial planning decisions.Coordinate specialized reporting as required.


• Coordinate account activity, including, but not limited to, receipts and disbursements related to assets and beneficiary needs, opening, funding, and closing accounts and facilitating charitable and non-charitable gifts.


• Oversee asset custody (at Choate and outside institutions).Coordinate with external advisors and family consultants.


• Monitor cash levels in accounts to ensure that all client needs can be met at all times.


• Ensure that inter‑departmental communication is effective and that all account information is relayed and processed in accordance with established protocols.Coordinate service with other Wealth Management Group departments: investments, tax, operations and legal.


• Assume additional duties as assigned.

Essential Competencies:

• Work proactively with others to support efforts within a department or function of the Firm.


• Organize and prioritize assignments and serve as a department liaison to ensure collaborative efforts result in meeting or exceeding goals and standards.


• Maintain current knowledge of trends and developments affecting the area of specialization.


• Use innovative thinking and exercise sound judgment to achieve results.

Qualifications:

• Financial, accounting, or legal background including a related degree required.


• Strong understanding of income taxes and investments including partnership, trust, estate planning, and estate/gift tax knowledge.


• Minimum of 3 years of experience working with high-net-worth clients required.


• Demonstrated commitment to confidentiality and the ability to handle sensitive information discreetly, with an understanding of when to appropriately elevate matters.


• Able to work well with a wide range of personalities.


• Complex project management skills along with the ability to work on multiple teams and several projects at one time. Proven track record of success in leading projects to successful completion under inflexible deadlines.


• Professional demeanor and presentation consistent with a professional office environment.


• Strong analytical skills and the ability to draft complex reports and spreadsheets.


• Strong Excel skills and a proficient user of all other MS Office Suite products.Adaptability to learn and become expert in new applications with limited formal training.

Work Authorization:

Applicants must be legally authorized to work in the United States without the need for sponsorship by the Firm (either now or in the future).

Compensation and Total Rewards Package:

Choate offers a comprehensive Total Rewards package to our business professional team members. The firm also offers comprehensive health and well-being benefits, personal and professional development, career growth opportunities and a collegial and supportive culture. The anticipated pay range for this role is listed below and represents our good faith and reasonable estimate of the salary range for this specific position at the time of posting. In addition, this role is eligible for a discretionary bonus based on performance. The actual offered rate for this position will be determined based on job‑related, non‑discriminatory factors, including but not limited to qualifications and experience, education, external market data and consideration of internal equity.

$120,000-$185,000