Head of Private Client Management
Company: MassMutual
Location: Windsor
Posted on: October 2, 2024
Job Description:
The Opportunity: -For more than two decades, MassMutual Trust
Company, a private wealth business, has provided complex
investment, fiduciary, trust, and high-end service capabilities
designed to position MassMutual in the private wealth market. The
business' objective is to attract and retain financial advisors and
high net-worth clients by offering concierge-level solutions
tailored to the more complex needs of higher net-worth families.
The company has grown to over $5B in assets under management and
the role of Head of Private Client Management sits at the epicenter
of our business model. You will guide a team of Private Client
Managers in deepening their relationships with both clients and
advisors and you will design and enhance a tailored family office
service capability that continuously differentiates MassMutual
Trust with high net-worth clients.The Team: -Reporting to the
President of MassMutual Trust Company, this leadership role is
critical in driving the growth and success of our private wealth
and trust business. You will lead a team of 15 private client
managers and serve as a key thought leader for designing and
implementing strategies that deepen our client relationships and
position the company to compete at the highest ends of the wealth
management markets. You will be in a position to inspire a
workforce to deliver differentiated family office services and to
help evolve our business to meet the rapid growth expectations of
the business.As a company, it is our role to provide differentiated
fiduciary, investment and trust service capabilities that create an
effective path toward the preservation and transition of a client's
wealth. We work in partnership with financial advisors to extend
the advisor's office by providing them a full suite of concierge
solutions that help them manage the complexities of high net-worth
families. At the core of this offering is your team of dedicated
Private Client Managers.If you are a problem-solver, a
solutions-oriented person with a passion and energy for building a
team, relationships and a business, we want to talk with you.The
Impact: -Leadership of the Private Client Management Team: -The
Head of Private Client Management will oversee a team of highly
credentialed relationship managers and trust officers with
responsibility for over 2,000 client relationships and $5B in
assets under management. You will be responsible for inspiring,
developing and coaching your team to strengthen our client and
advisor relationships from the onboarding of a new relationship to
fiduciary oversight at the client account level.You will be
responsible for continually assessing and assigning private client
managers to key financial advisors and client as these clients
become part of MassMutual Trust. -You will participate in and
manage the daily account acceptance process (which is a component
of new business underwriting) and serve as the primary review and
administrative approver. The responsibilities also include:
- Key voice on senior leadership team and reporting directly to
the President of MassMutual Trust
- Accountability to assist in the design and development of long
term strategy for the business and with the annual objective
setting process for MassMutual Trust
- Voting member of the Trust Investment Committee, Fiduciary
Pricing Committee and Trust Administration Committee - all required
committees by our regulator, the OCC (Office of the Comptroller of
the Currency)
- Organize department resources and documents to drive
performance and achieve consistency of quality and fiduciary
standards
- Lead recruiting, training and development within an expanding
private client manager role including ongoing CTFA training and
individual develop plans
- Guide monthly financial reporting including the review of sales
reports, AUM roll forward reports, fee computation reports, and
consult on sales chargebacks as needed
- Handle escalated service challenges on behalf of your teamSales
Interface: -Given the role of relationship management and case
design, there is critical, daily and ongoing coordination with our
sales team and sales activities. -This role serves as leader of the
new business and account onboarding process and seeks to align
private client managers with the needs of specific advisors and
clients. It serves as the primary leadership interface with
MassMutual's 7,000 financial advisors to ensure problems are solved
and that our team of private client managers/trust officers are
effectively servicing these advisors.Develop, Communicate and
Execute on Strategic Priorities:As a key member of the senior
leadership team, you will be responsible for bringing market and
data-driven insights, along with the voice of our advisors and
clients, into the design and development of the MassMutual Trust
company's long term strategy. This requires having an external
orientation with a strong understanding of the needs of advisors
and high net worth clients. From this understanding, the role will
work closely with the Head of Strategy and President of MassMutual
Trust to create a strategic plan to continue to solve problems and
position the business to compete in a growing private wealth
marketplace.MassMutual Trust is strategically positioned within the
Wealth Management business of MassMutual so that we provide a
spectrum of financial solutions that align with the lifetime needs
of clients. The company's private client and trust services enable
long term financial planning and guide the transition of client
wealth to the people and causes these clients care about. The Head
of Private Client Management serves as a critical thought leader in
the area of private wealth and, just as importantly, serves as an
advocate of the private wealth solutions MassMutual Trust provides
to financial advisors and clients. -Fiduciary Controls & Financial
Reporting:Monitor fiduciary standards within the Private Client
Management team; guide multiple aspects of financial reporting; and
serve as a voting member of internal regulatory committees. -The
Ideal Qualifications:
- Inspirational leadership and the ability to galvanize a
workforce towards delivering an elite level of client and advisor
services
- Ten years of experience higher level client services,
relationship management, and a track record of strengthening client
and/or advisor relationships
- Experience with complex investments, estate planning and trust
administration
- Experience managing, leading, and developing a dispersed
team
- Demonstrated ability to problem solve and to create a team
culture around problem solving
- Demonstrated ability to gather and synthesize voice of customer
insights
- Certified Trust & Financial Advisor designation is
preferred.
- Commitment to enhancing the experience of advisors, clients,
and your team of employees#LI-LS1MassMutual is an Equal Employment
Opportunity employer Minority/Female/Sexual Orientation/Gender
Identity/Individual with Disability/Protected Veteran. We welcome
all persons to apply. Note: Veterans are welcome to apply,
regardless of their discharge status.
If you need an accommodation to complete the application process,
please contact us and share the specifics of the assistance you
need.
Keywords: MassMutual, New England , Head of Private Client Management, Executive , Windsor, Northeast
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