Estate Specialist (SWS Advisory Spclst (LO) 2)
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Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified financial services company with $1.7 trillion in assets. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 locations, more than 12,500 ATMs, online (wellsfargo.com), and mobile devices. Wells Fargo has more than 265,000 team members in 36 countries across our approximately 90 businesses. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.
Wealth and Investment Management (WIM) is one of the company’s four main divisions. WIM businesses build enduring client relationships through sound, thoughtful and objective advice. We help our clients by developing individualized plans for everything from retirement goals to business succession planning, to family legacy intentions. Services include comprehensive planning and advice, investment management, brokerage, private banking, estate planning strategies, trust, insurance and both individual and institutional retirement.
A fiduciary expert that is responsible for the proactive marketing, promotion, delivery, and oversight of death settlement services related accounts (estates, deceased grantor trusts, marital trusts, agency for personal representative or trustee accounts). This position is seen as a subject matter expert and provides direct interaction with co-fiduciaries, centers of influence, and beneficiaries in a professional and empathetic manner which results in the delivery of outstanding client service by keeping them proactively informed on the death settlement process. Collaborative administration is provided through partnering with the Trust Center, Estate and Fiduciary Tax, Investment Officer, Relationship Managers, FAs, operations, and other internal partners. Responsibilities include: review and implementation of complex estate planning documents, identify problems and issues, offer solutions, manage beneficiary and COI expectations, work with internal partners, make post-mortem elections, oversee the collection of assets, create plans of distribution, review fiduciary tax returns, deliver outstanding client service via proactive communication and status updates., The Advisory Specialist is charged with ensuring that account administration proceeds in an efficient manner and in accordance with post mortem planning, regulatory, statutory requirements, and internal policies; preliminary risk analysis; review and interpretation of estate planning documents; identifying compliance/risk and potential tax issues; and, review of related documents (estate and gift tax returns, income tax returns, accountings, etc.).
High level of expertise in death settlement and estate and fiduciary income tax fields. Position requires a broad base of fiduciary knowledge, including estate administration, post-mortem planning, retirement, insurance, time-value of money, and investments. Must be able to see the “big picture” with respect to a decedent’s estate, issues for the beneficiaries and potential revenue opportunities for the Bank. As such, the Advisory Specialist is responsible for growing the credibility and enhancing the reputation of Estate Services internally and externally. Contribute to growth of the wealth management business by promoting Agency for Personal Representative or Trustee and future fee business internally and externally through presentations, active participation in wealth team meetings, partnering with wealth teammates, and actively seeking opportunities to tell the Estate Services story. Coordinate the marshaling of information necessary to complete a well-informed pre-acceptance process to ensure the acceptance of quality business and proper pricing of services.
Specialty fiduciary expert that applies deep knowledge and skills in the area of trust and estate matters, investment management, wealth transition, and financial planning. May partner with a Relationship Manager or act as Relationship Manager in serving clients. Contributes to growth of the specialty wealth management business by participating in and initiating new client acquisition through leveraging fiduciary skills and specialized knowledge in the marketplace. In some cases, may administer and manage the risk of moderately complex trust accounts in order to develop or expand relationships. As the relationship manager for a book of death settlement business, identifies and addresses issues with clients, underwriting/accepting new accounts, administering, terminating, distributes moderately complex accounts. Proactively engages with clients in specialty wealth planning related conversations; collaborates with partners to develop and propose solutions. Communicates directly with clients, business partners and Centers of Influence including external resources i.e. accountants, attorneys, who are related to the client relationship as part of day to day administration. May be a team lead. This LO position has customer contact and job duties which may include needs assessing and referring those customers interested in a dwelling secured product to a SAFE team member. This position includes assisting customers without taking an application and without offering or negotiating terms of a dwelling secured transaction. Individuals in a LO position also must meet the Loan Originator requirements under Regulation Z (LO) outlined in the job expectations below.
- 6+ years trust/fiduciary experience demonstrated through work, military or education experience
- Wealth management experience
- Excellent verbal, written, and interpersonal communication skills
- Knowledge and understanding of fiduciary law and federal regulations
- Strong presentation skills
Other Desired Qualifications
- 5+ years direct experience in estate, trust, or fiduciary administration, post-mortem planning and/or estate/inheritance tax.
- Ability to read, interpret, and explain will and trust documents, probate laws, tax provisions (estate, gift, and GST, including funding formulas), and investment provisions.
- Ability to work independently.
- Strong attention to detail and ability to prioritize.
- Ability and willingness to actively train others.
- Proficient in Microsoft Word and Excel.
- An undergraduate degree.
- JD, CPA. CTFA, or CFP designation.
- Experience in wealth management with net worth clients of at least five million dollars.
- Extensive knowledge and understanding of financial and estate planning, fiduciary/trust, wealth transfer, leverage, multiple asset class usage, asset allocation strategies, and taxation.
- Individuals in Loan Originator (LO) positions must meet the Consumer Financial Protection Bureau qualification requirements and comply with related Wells Fargo policies. The LO qualification requirements include meeting applicable financial responsibility, character, general financial fitness and criminal background standards. A current credit report will be used to assess your financial responsibility and credit fitness, however, a credit score is not included as part of the evaluation. Successful candidates must also meet ongoing regulatory requirements including additional screening, if necessary.
All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.
0055935 WEALTH INV MGMT/WIM PSI
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