Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by connecting our capabilities across the firm. RPWS is responsible for the development and execution of a comprehensive set of personal wealth and retirement products and services through Banking, Merrill Edge and Advisory channels. RPWS provides tools and content that enables financial advisors and bankers to help their client’s live better financial lives.
The Trust and Estate Associate (TEA) role, at this core, is the trust new business coordinator for ADG. After the Trust Specialist/Trust Interns Specialist have the commitment from the client, their legal advisor and the FA to proceed with the trust strategy, the TEA takes over. Responsible for the coordination of all new business submissions and must be conversant in various capacity issues such as Trustee vs. Agent as well as Executor.
• Able to interpret complex legal documents to identify appropriate parties i.e. trustee, grantor, beneficiary and executor. Work with the client_x001A_s personal legal counsel to convey MLTC specific required legal language to be incorporated into the trust agreement.
• Work with the predecessor trustees to obtain tax returns, account statements, amendments etc.
• Obtain the necessary approvals on investment platforms spanning Consults, UMA, PIA, ETFs, Blackrock, MFs. Coordinate complex funding strategies (restricted stock) as well as exception diversification plans. Obtain necessary documentation and required approvals for the funding trusts with unique assets i.e. real estate, LLC/LPs.
• Prepare all new account paperwork for the various types of trust business, investment platforms etc.
• Prepare the Trust specialist checklist, the Fee analyzer. The Fee concession form if applicable, the Fee Set-up form which can be very complicated because one relationship can span multiple investment platforms, LOAs. ATF, generating LMA docs once the acct has been established.
• Generate pitch books for client meetings, sending marketing information to FAs as requested.
This is a mid-level administrative support role within a sales team, whose common goal is to provide Financial Advisors (FAs) with appropriate trust solutions in a timely and compliant manner and meanwhile attaining sales goals
Partnering – Regularly communicate and partner with assigned Trust Specialist, Internal Trust Specialist, Regional Fiduciary Officer (RFO), Investment Oversight and Operations.
• Review client documents to determine the nature of case, red flags, etc.
• Understand pricing model and parameters around discounting
• Prepare paperwork for client signatures
• Process paperwork after client signatures are obtained
• Ensure handoff from Trust Specialist / Internal Trust Specialist (ITS) to Trust Officer (TO)
• Act as point person on follow-up between Administration and FAs for outstanding new account documents
Communications – Phone Coverage and Field FA/Client Associate (CA)/Attorney/Client Questions
• Process future fee business
• Generate Pitchbooks and Proposals as requested by Sales Team
• Deliver CA Training on Opportunities and new account onboarding process
• Utilize SalesForce.com
• Manage office supplies and marketing materials
• Maintain Trust Specialist schedule
• Execute Trust Specialist travel arrangements
• Generate Trust Specialist travel and expense reports in a timely manner
• Bachelor’s Degree required; JD strongly preferred
• Previous trust experience strongly preferred
• Understanding of (or the willingness and ability to learn) estate planning concepts, ML Trust Company products, platforms, systems, policies and procedures
• Knowledge of the underlying nature of a client's estate plan through appropriate interface with clients, financial advisors and outside legal and tax advisors
• Must possess strong interpersonal skills
• Strong verbal and written communication skills.
• Detailed oriented, accurate, well organized and possess a strong sense of urgency
Shift:1st shift (United States of America)
Hours Per Week:40
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