Family Wealth Sr Fiduciary Advisor

Keybank National Association - Albany, NY

Albany, NY

Credit Intermediation and Related Activities

About the position

The Sr. Fiduciary Advisor is primarily responsible for fulfilling the fiduciary responsibilities of KeyBank by providing client advisory services to Ultra High Net Worth (UHNW) clients with a net-worth greater than 25MM and their beneficiaries. As a member of the Family Wealth relationship management team, they proactively collaborate with team members to build insights and solutions to attract, retain and grow UHNW client relationships. This role is entrusted with the responsibility of delivering the Family Wealth standard in ensuring consistent, sophisticated advisory delivery, while managing fiduciary risk. For Family Wealth legacy relationships, the Fiduciary Advisor serves as the primary point of contact and manages the day-to-day services and team interactions, in such cases, the role is responsible for the coordination and delivery of all Family Wealth services and ensures the client receives an industry leading family office experience. While serving UHNW clients, the Fiduciary Advisor also identifies opportunities to protect, grow and transition family wealth. They are charged with retaining and deepening client relationships.

Responsibilities

• Leads the delivery of fiduciary advice as part of client servicing and execution of the client experience.
• Develops a strong understanding of family relationships and the needs of current clients as well as beneficiaries.
• Obtain and reviews and monitors all estate planning documents periodically to ensure that they fit individual client's current circumstances.
• Analyzes and interprets legal instruments to determine duties and responsibilities of the bank and to provide well-coordinated estate, tax, and financial planning alternatives to meet client's needs.
• Facilitate the estate, tax, and philanthropic planning process for all relationships regardless of whether Key serves as trustee.
• Identifies a potential trust and estate tax-related issues and works with the client and external advisors to resolve.
• Collaborates with external client advisors (attorneys, accountants, etc.) to deliver advice.
• Works closely with the Family Wealth team to identify and prioritize opportunities to deepen relationships.
• Identifies Investment Management and Trust Opportunities as well as any other banking, lending, or insurance needs.
• Fosters close business relationships to develop client loyalty and new business opportunities.
• Assess client revenue opportunity based on complexity and service required.
• Actively participate in pricing conversations for new KPB opportunities and proactively seek for opportunities to reduce discounts on existing client pricing to move revenue closer to the national schedule.
• Leads the relationship development and engagement for beneficiaries and legacy relationships.
• Leads the onboarding process for new clients in partnership with the Family Wealth team.
• Demonstrates community leadership through active participation on boards and professional organizations.
• Responsible for engaging appropriate fiduciary partners to support administration or expertise in the delivery of client advice.
• If appropriate, may function as the lead contact on a UHNW relationship while engaging a Relationship Manager to ensure that a complete and positive client experience is achieved and maintained.
• Responsible for retaining and deepening the relationship with a client including the next generation.
• Responsible for contributing to the development of the annual client wealth plan and actively participates in the execution.
• Demonstrates experience working directly and independently with clients and families with a broad array of estate and financial planning issues.
• Demonstrates awareness of state specific estate and tax planning issues.
• Maintains deep expertise in fiduciary, investment, tax, and other related wealth issues by keeping current as to estate and tax law changes through legal education opportunities.
• Shares intellectual capital with the Family Wealth Team as part of the pre-call meetings.
• Administers complex accounts with a proactive, disciplined, consistent and comprehensive approach.
• Fulfills Key's fiduciary responsibilities with utmost adherence to all internal fiduciary policies and procedures, regulatory and legal requirements.
• Anticipates and mitigates risk on assigned accounts.
• Assumes accountabilities for all delegated fiduciary administrative work on assigned accounts.
• Advises relationship managers and all other partners on all internal fiduciary issues.
• Work closely with Regional Trust Director and applicable Family Wealth team members on pricing, client service, compliance, and litigation issues, as needed and appropriate.

Requirements

• Experience working with high-net-worth clients.
• Deep tax, investment, estate planning, business succession or fiduciary experience.
• Excellent interpersonal and communications skills (both written and verbal) on full spectrum of client and COI personality profiles.
• Demonstrated dedicated commitment and proven track record in cultivating existing client relationships with a view toward revenue enhancement and profitability.
• Professional Designation preferred - JD, CPA, LLM, CTFA, CFP or advanced degree as appropriate.
• Self-motivated, goal and results driven.
• Demonstrated ability to be accountable for a process and/or delivery from end to end.

Benefits

• Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture.