Job Title: Client Service Associate - Family Office
Division: Family Office Services
Location: Princeton, NJ
Reports To: Managing Director of Family Office Services
Position Overview: The Client Service Associate will play a critical role in managing the financial affairs of our high net worth clients, ensuring their complex financial needs are met with precision and care. This management/supervisory position will involve regular interaction with clients, their family members, accountants, attorneys, and other advisors, under the supervision of the Director of Family Office Services.
Key Responsibilities:
- Serve as a primary point of contact for ultra-high net worth clients, their family members, accountants, and attorneys, coordinating financial activities and organizing clients’ financial affairs.
- Anticipate and respond to client or advisor inquiries regarding assets, liabilities, risk management, tax implications, and estate planning, in consultation with relevant professionals.
- Oversee day-to-day financial management, including bill payments, bookkeeping, capital calls, wire transfers, and liquidity monitoring, while supervising a team that assists with these tasks.
- Coordinate the distribution of client tax reporting documents, interfacing with accountants and investment advisors to ensure accuracy and timeliness.
- Create and maintain financial calendars to track and meet deadlines for payments such as income taxes, insurance premiums, property taxes, LLC filings, and utilities.
- Work closely with clients' attorneys on legal matters and with insurance carriers on claims management and premium minimization.
- Collaborate with clients' employers to anticipate compensation, manage deferred compensation, and monitor Restricted Stock Units (RSUs).
- Administer Private Foundation activities or supervise outsourced management of foundations and Donor Advised Funds, including grant making and personal charitable donations.
- Prepare or supervise the preparation of monthly/quarterly net worth summaries, cash flow reports, and custom financial reports using Excel and QuickBooks.
Qualifications, Skills, and Requirements:
- Education: College degree required; MBA preferred.
- Experience: Minimum of 5 years in financial services, with experience in client service, financial management, or a related field.
Skills:
- Exceptional organizational skills and attention to detail.
- Ability to multitask effectively and complete tasks with a high degree of accuracy.
- Excellent verbal and written communication skills.
- Proficiency in MS Office, Outlook, Excel, and QuickBooks.
- Experience with consolidating financial reports and working with investment subscription documents.
- Familiarity with estate planning techniques, including GRATs, Irrevocable Trusts, Revocable Trusts, ILITs, etc.
Benefits:
- Competitive salary commensurate with experience
- Comprehensive benefits package
- Opportunities for professional growth and development
