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Trust Specialist

Job ID: R-007040 Date posted: 11/08/2019 Primary Location OH-Cleveland


The Private Trust Company (PTC), an affiliate of LPL Financial LLC, is a growing, fast-paced, entrepreneurial business headquartered in Cleveland, Ohio, that assists families in transferring, protecting, preserving and managing wealth to future generations, charities and communities.  PTC is a national trust company with a unique business model that focuses on an open architecture investment management style, recognizing that clients are best served with a team of professionals with whom we will work.  We offer clients the sophistication of our experienced trust officers, combined with a high level of customer service.  As a limited purpose national bank, PTC is examined by the Office of the Comptroller of the Currency, a division of the US Treasury. 

Opportunity and Role

PTC has a corporate value of creating a client-centric culture and this role is pivotal to driving that agenda and delivering high quality service levels to clients and advisors. This role is responsible for delivering exceptional customer service experiences, including accurate, timely and effective communication and execution of relational and transactional activities among clients and advisors, including high-net-worth accounts, while working as a team with a trust officer.

Success in this position would lead to higher satisfaction and improved advisor adoption of the PTC open architecture fiduciary model.   The Candidate will participate primarily in general trust account onboarding functions supporting Trust Officers during the critical first months of a new relationship. 

Onboarding Specialist duties will include:

  • preparing, distributing, & tracking all forms and related documentation associated with new accounts,
  • implementing a consistent communication plan with Advisor Teams and end clients throughout the onboarding process,
  • performing AML screening activities in connection with new client onboarding,
  • opening new client accounts on the PTC trust accounting system,
  • opening new client accounts on the LPL brokerage system,
  • setting-up unique investment assets on the trust accounting system,
  • performing reconciliations of trust assets upon funding,
  • coordinating illiquid asset and insurance policy reviews attendant to new account processes,
  • tracking of onboarding processes, communications,  and completion of all associated workflows,
  • coordinating establishment of online client access for new and existing relationships, moving toward paperless delivery of client statements wherever feasible,
  • Working closely with prior custodian’s and trustees to facilitate transfer of information, documentation and assets,
  • monitoring accounts from acceptance through funding, escalating issues as necessary and tracking anomalies
  • prepare volume & throughput summary reports for new account processes for management review

            This individual will interact with other staff to facilitate and execute proper account opening and trust operations & administration functions.       

            This individual will participate in periodic Trust Committee meetings, bringing information about activities and transactions to the Committee for review and reporting of issues and adherence to general procedures and practices.

Other duties may include: interacting with clients and client service providers, handling client requests, research, preparing management reports and spreadsheets.

Education & Experience

An ideal Candidate would have 2+ years’ experience working directly in the trust and fiduciary industry and possess a basic knowledge of trust and estate administration skills, fiduciary knowledge and principal/income accounting.  At a minimum, the Candidate should have 2-5 years’ experience in an administrative role in the trust, legal, brokerage, investment or accounting fields.

The ideal Candidate would also possess a minimum of a Bachelor’s degree and strong Microsoft Office and general computer skills. Candidate should be a self-starter, excellent customer service and communication skills.

The following are critical general skills which the candidate must possess: 

  • Communication – must be able to express ideas clearly, both verbally and in writing and to articulate issues and solutions in a client relationship environment
  • Project and time management skills.
  • Technical skills – must have thorough working knowledge of computer systems including Word, Excel, PowerPoint
  • Listening – ability to listen actively and attentively.
  • Interpersonal skills – relates well to people at all levels; builds appropriate rapport; uses diplomacy and tact.
  • Analytical / problem solving skills, Detail-oriented and organized.

    We offer a competitive salary and benefits package. Please login or create an account to apply to this position at our parent company’s website at Principals only. EOE

About LPL Financial:

LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL and its affiliates have more than 3,700 employees with primary offices in Boston, Charlotte, and San Diego.

Our Culture:

If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees. 

We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.  

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

*As reported by Financial Planning magazine, June 1996-2017, based on total revenue.

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