Associate Director, Private Wealth Client Services

2 days ago

Minnetonka, Minnesota, United States Cresset Full time
About Cresset

Cresset is a pioneering, independent, multi-family office and private investment firm that is revolutionizing the way individuals experience wealth. Our mission is to provide unparalleled access to the expertise, ideas, and investment opportunities available to the largest single-family offices and endowments. We offer bespoke wealth management, investment advisory, and family office services through Cresset Asset Management, a SEC-registered investment advisor that has surpassed $50 billion in assets under management. Our firm is widely recognized for its excellence and is frequently ranked as a top RIA firm by Barron's and Forbes.

Job Summary

Cresset is seeking an experienced Associate Director, Private Wealth Client Services to manage the administrative and private banking needs for high net worth and ultra-high net worth clientele. The ideal candidate will serve as a primary point of contact for clients and collaborate with a portfolio manager to build strong relationships and drive retention and growth by providing a superior experience.

Key Responsibilities
  • Manage client relationships on multi-custodial platforms, ensuring seamless execution and exceptional service.
  • Serve as a primary lead for client onboarding, investment implementation, and private banking services, providing tailored solutions to meet their unique needs.
  • Create and implement customized onboarding experiences for high net worth clients, setting the tone for a long-term partnership.
  • Transfer and reconcile assets from contra firms, ensuring accuracy and efficiency.
  • Implement new investment strategies and hire managers as directed by the advisor, staying ahead of the curve in the ever-evolving financial landscape.
  • Prepare client subscription and redemption documents related to alternative investments, ensuring compliance and transparency.
  • Manage client billing, assigning attributes, start/end dates, and raising cash, maintaining a high level of accuracy and attention to detail.
  • Assist with client inquiries regarding inflow and outflows, providing timely and effective solutions.
  • Establish lines of credit/margin, 529 accounts, and manage client donor advised/charitable distributions, demonstrating a deep understanding of complex financial concepts.
  • Attend quarterly client portfolio review meetings as needed, fostering open communication and collaboration.
  • Serve as a liaison between Cresset and client CPA's and attorneys, ensuring seamless coordination and exceptional service.
  • Manage tax document facilitation with client CPA's, maintaining a high level of accuracy and attention to detail.
  • Identify new technology and opportunities to enhance client experience and promote internal scalability, driving innovation and growth.
Requirements and Qualifications
  • Bachelor's degree in Business, Finance, or a related field or equivalent industry experience.
  • 5+ years' financial services experience working with ultra-high net worth clients, with a proven track record of success.
  • Knowledge of Fidelity and Schwab custodial platforms a plus, with the ability to navigate complex systems and technologies.
  • Operate in a dynamic and fast-paced environment, with a strong sense of urgency and a ability to adapt to changing priorities.
  • Approach problems with creativity, innovation, and tenacity, thinking strategically and operating independently.
  • Multitask to successfully manage multiple assignments simultaneously, evaluating and prioritizing tasks to meet deadlines.
  • Organize and create structure for client relationships, collaborating and providing meaningful input to the team.
  • Adapt, improvise, and overcome challenges, quickly and efficiently processing and absorbing information.
  • Strong attention to detail to achieve thoroughness and accuracy when accomplishing a task, establishing and maintaining positive working relationships with clients, peers, CPAs, attorneys, and other professionals.
  • Proactively approach problem solving with strong decision-making capability, handling confidential information with discretion and demonstrating the highest level of client service, ethics, and integrity.
  • Excellent communication skills, both written and verbal, with proficiency in the use of Salesforce, Microsoft Office programs including Word, Excel, PowerPoint, and Outlook.
What We Offer

Cresset is a people-first organization that prioritizes employee engagement and satisfaction. We offer a competitive compensation package, including an annual incentive and a comprehensive benefits package, to all full-time employees. Our benefits include medical, dental, vision, life insurance, 401(k) retirement plan, health savings accounts, short and long-term disability insurance, voluntary critical and accident insurance, and pre-tax parking and transportation programs. Aligning employee and organizational interests, all employees receive equity in Cresset.

Cresset is an equal employment opportunity employer, committed to ensuring equal employment opportunity for all employees and applicants for employment without regard to race, color, religion, sex, pregnancy (including childbirth, lactation, or related conditions), national origin or ancestry, age, disability, veteran status, uniformed servicemember status, sexual orientation, gender identity, status as a parent, genetic information (including testing and characteristics), or any other characteristic protected by applicable federal, state, or local law.

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