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Trust Officer

Job ID: R-022423 Date posted: 04/28/2022 Primary Location OH-Cleveland

Are you a team player?

Do you enjoy consulting with clients and fostering relationships?

Excited to learn more? If so, then this could be the role for you!

LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 18,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

Job Overview:

The Assistant Vice President, Trust Officer – The Private Trust Company is responsible for effective trust administration, and providing an overall excellent client experience.  This position will provide day-to-day client management for designated relationships.  The scope of responsibilities includes relationship management, fiduciary and account administration and other functions as required to ensure excellent relationships with clients, business partners, and success with firm-wide initiatives.

Responsibilities:

  • Account Administration: Serve as the trust administrator for designated clients, including preparing summaries and recommendations for discretionary actions, communicating with trustees, beneficiaries and financial advisors, administering special assets, reviewing annual trust reviews and ensuring that fiduciary standards and practices are observed.  In addition, provide daily administration for trust and investment accounts, including transaction management and/or execution, overdraft and tax lot management, review of account set-up and funding, account termination, and other administrative functions in support of The Private Trust Company’s clients.  Consult with the Trust Administration Committee, Trust Counsel, beneficiaries, outside trustees, financial advisors, attorneys and CPAs as appropriate. Analyze and interpret relevant legal documents including wills, trusts, agreements and entity documents in relation to the clients’ overall estate, tax and financial plans.
  • Relationship Management and Client Service: Manage financial advisor and client relationships and provide client service and support for moderately complex to complex relationships.  Identify client needs, address client concerns, resolve issues (with guidance from senior officers where appropriate) and respond to client inquiries while keeping relevant parties involved.  Effectively communicate with clients, financial advisors, external partners and colleagues regarding fiduciary, tax, legal, administrative and investment matters. 
  • Projects: Participate in special projects and initiatives and create effective working relationships with colleagues and peers within the Company and across the firm.  Collaborate with colleagues and associates to enhance best practices, engage appropriate resources and foster strong team dynamics. An understanding of asset classes, allocation, risk and Prudent Investor standards, as well as The Private Trust Company and LPL’s investment philosophy and process, with the ability to effectively communicate relevant basic principles to clients. 
  • Other duties as required.

What are we looking for?

We want strong collaborators who can deliver a world-class client experience. We are looking for people who thrive in a fast-paced environment, are client-focused, team oriented, and are able to execute in a way that encourages creativity and continuous improvement.

Requirements: 

  • Bachelor’s degree preferred. Advanced degree/certification preferred.
  • 5 years’ experience in trust administration, preferably with a broker-dealer or in a traditional bank/trust company. Knowledge of financial planning, philanthropic planning and fiduciary law..

Core Competencies:

  • Strong verbal and written communication skills for effective interactions with clients and financial advisors.
  • Client-centric Mindset
  • Teamwork oriented
  • Top-notch Organizational Skills
  • Detail-oriented, especially with trust administration, tax and investment requirements.
  • Strong use of Microsoft Office and ability to adapt to trust, and tax accounting applications.

Why LPL? 

At LPL, we believe that objective financial guidance is a fundamental need for everyone. As the nation’s leading independent broker-dealer, we offer an integrated platform of proprietary technology, brokerage, and investment advisor services. We provide you with a work environment that encourages your creativity and growth, a leadership team that is supportive and responsive, and the opportunity to create a career that has no limits, only amazing potential.

We are one team on one mission. We take care of our advisors, so they can take care of their clients.

Because our company is not too big and not too small, you can seize the opportunity to make a real impact. We are committed to supporting workplace equality, and we embrace the different perspectives and backgrounds of our employees.We also care for our communities, and we encourage our employees to do the same. This creates an environment in which you can do your best work.

Want to hear from our employees on what it’s like to work at LPL?  Watch this!

We take social responsibility seriously. Learn more here

Want to see info on our benefits?  Learn more here

Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.

Information on Interviews:

LPL will only communicate with a job applicant directly from an @lplfinancial.com email address and will never conduct an interview online or in a chatroom forum.  During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicant’s bank or credit card.  Should you have any questions regarding the application process, please contact LPL’s Human Resources Solutions Center at (800) 877-7210.

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