Head of Private Client Management

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 team

Sales 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

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MassMutual 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.