Torchora
Back to Home

Key Responsibilities and Required Skills for Registered Private Wealth Client Associate

💰 $ - $

Wealth ManagementPrivate BankingClient Services

🎯 Role Definition

The Registered Private Wealth Client Associate is a licensed, client-facing operations and service professional who supports private wealth advisors and portfolio managers by managing client relationships, administering complex accounts, coordinating trade and settlement activity with custodians, ensuring regulatory and KYC compliance, and delivering high-touch reporting and operational excellence for high-net-worth and ultra-high-net-worth clients. This role requires strong brokerage registration (Series 7 and Series 66/63/65 preferred), experience with major custodians (Schwab, Fidelity, Pershing), advanced Excel and CRM proficiency (Salesforce, Tamarac, Orion), and the ability to balance accuracy with rapid, confidential client service.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Client Service Associate / Client Service Representative
  • Operations Analyst (Broker-Dealer or Wealth Management)
  • Paraplanner or Junior Private Banker

Advancement To:

  • Senior Private Wealth Client Associate / Lead Client Associate
  • Private Wealth Advisor / Financial Advisor (with business development)
  • Team Lead — Wealth Servicing / Portfolio Administration
  • Portfolio Manager Support Specialist or Operations Manager

Lateral Moves:

  • Trust & Estate Operations Specialist
  • Private Banking Relationship Manager
  • Compliance Analyst — Wealth Management

Core Responsibilities

Primary Functions

  • Act as the primary operational and administrative point of contact for a book of private wealth clients, delivering timely, proactive communications and resolving client service issues while preserving confidentiality and a high-touch service standard.
  • Manage end-to-end client onboarding for new accounts, including preparation and review of account opening documentation, transfer paperwork, internal data entry, custodian setup (Schwab, Fidelity, Pershing), beneficiary designations, and wiring instructions.
  • Execute and allocate discretionary and non-discretionary trades in accordance with portfolio guidelines, confirm orders, reconcile trade blotters, and coordinate allocations and trade corrections with traders and custodians to ensure timely settlement.
  • Maintain and reconcile daily cash positions and margin activity across multiple custodial platforms; research and resolve funding shortfalls, failed trades, and settlement exceptions.
  • Perform comprehensive KYC/AML reviews and updates for assigned clients, including document collection (ID verification, source-of-funds, W-9/W-8), risk-profile maintenance, and preparation of escalation packages for compliance review.
  • Prepare and deliver client-facing materials for review meetings and quarterly reviews: consolidated performance reports, fee schedules, portfolio holdings, performance attribution, and customized investment commentary.
  • Coordinate account transfers, ACATS transfers, full and partial transfers of assets, and account closures by liaising with external custodians, transferring brokers, and internal operations teams.
  • Administer complex account types including trusts, IRAs, brokerage, custodial, limited partnerships, and corporate accounts; coordinate with trust officers and legal counsel on beneficiary or distribution requests.
  • Manage billing and fee processing for advisory and wrap programs: calculate, validate and process advisory fees, review fee reconciliations, and address client inquiries related to billing.
  • Support tax and regulatory reporting: prepare and distribute tax documents (1099s, consolidated tax packages), cost basis reporting, and respond to ad hoc client and tax advisor requests.
  • Coordinate corporate actions, dividends, mergers, tender offers, and proxy voting logistics for client holdings; ensure client elections and instructions are captured and executed.
  • Maintain accurate CRM (Salesforce/Tamarac/Orion) client records, contact logs, meeting notes, pipeline updates, and required documentation to support advisor workflow and practice management.
  • Facilitate securities-based lending or margin requests by preparing documentation, coordinating with lending desks, and ensuring compliance with internal lending policies and collateral requirements.
  • Support onboarding and ongoing servicing of private equity, hedge fund, and alternative investment holdings, including subscription and redemption logistics, capital calls, and K-1 coordination.
  • Assist advisors with portfolio rebalancing, tax-loss harvesting, and personalized cash flow planning efforts by preparing trade proposals, cash projections, and model portfolio implementation steps.
  • Lead or participate in client account reviews and operational due diligence for client transitions or repapering events, including preparation of transition checklists and migration timelines.
  • Ensure strict adherence to FINRA and regulatory requirements for registered personnel: maintain licensing status, complete continuing education, and assist during audits and regulatory examinations with timely document retrieval.
  • Resolve complex client inquiries involving transfer agents, mutual fund companies, custodial paperwork, and third-party administrators through direct outreach and escalation management.
  • Produce ad hoc analytical reports for advisors and management: AUM trends, client segmentation, net flows, pipeline metrics, and operational performance dashboards.
  • Train and mentor junior client associates and operations staff on best practices for account opening, trade settlement, custodian workflows, and compliance standards.
  • Proactively identify process improvement opportunities, document standard operating procedures (SOPs), and collaborate with operations, technology, and compliance teams to streamline workflows and reduce operational risk.
  • Participate in business development support activities: prepare pitch materials, RFP responses, and service proposals; coordinate logistics for prospective client meetings and due diligence requests.

Secondary Functions

  • Support transitions and migrations of accounts during practice moves or custodial platform changes by coordinating timelines, communicating milestones to clients, and validating data integrity.
  • Assist with internal and external audit requests, including assembling documentation and providing account-level explanations as needed.
  • Maintain up-to-date knowledge of product offerings, market developments, and regulatory changes that affect private wealth clients.
  • Coordinate with estate planners, tax advisors, and outside counsel to support trust administration tasks, beneficiary changes, and estate distributions.
  • Participate in firm and practice-level initiatives: technology rollouts, CRM enhancements, and client reporting upgrades to improve service delivery.
  • Provide backup support for other client associates and operations functions during peak periods, vacations, and absences to ensure uninterrupted client service.

Required Skills & Competencies

Hard Skills (Technical)

  • FINRA Series 7 and Series 66 (or Series 63 + 65) registration required; SIE completion and state securities registrations as applicable.
  • Hands-on experience with major custodial platforms (Schwab, Fidelity Institutional, Pershing, RBC) and custodian workflows including ACATS, deposits, and reconciliations.
  • CRM proficiency (Salesforce, Tamarac, Orion, Black Diamond) with demonstrated ability to maintain accurate client records and workflows.
  • Strong Microsoft Excel skills (VLOOKUP/XLOOKUP, pivot tables, advanced formulas) and comfort building operational templates and reconciliation tools.
  • Familiarity with portfolio accounting and reporting platforms (Addepar, Black Diamond, Orion, Morningstar, Bloomberg).
  • Knowledge of KYC/AML frameworks, CIP procedures, and regulatory document requirements (W-9/W-8, POAs, trust certification).
  • Experience with trade execution systems, order blotters, and trade allocation processes.
  • Understanding of alternative investments, private equity, hedge funds, and subscription/redemption mechanics.
  • Competence in preparing fee calculations and reconciliation for advisory and wrap accounts.
  • Ability to produce consolidated performance reporting and basic performance attribution analysis.

Soft Skills

  • Exceptional client service orientation with high emotional intelligence, discretion, and responsiveness for HNW/UHNW clients.
  • Strong verbal and written communication skills for client correspondence, advisor briefings, and cross-functional collaboration.
  • Highly organized with excellent attention to detail, time management, and ability to manage competing priorities in a fast-paced environment.
  • Problem-solving mindset with ability to research, escalate, and resolve complex operational issues proactively.
  • Team player who mentors colleagues, contributes to process improvements, and supports culture of continuous improvement.
  • Professional presence and credibility to interact with external stakeholders, custodians, legal counsel, and tax advisors.
  • Adaptability to changing regulatory or business requirements and the ability to learn new technology platforms quickly.
  • High level of integrity and judgment when handling confidential client and firm information.
  • Project coordination skills to manage account transitions, system implementations, and cross-departmental initiatives.
  • Analytical mindset to interpret account data, identify trends, and prepare concise summaries for advisors and clients.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Finance, Business, Economics, Accounting, or a related field preferred. Equivalent combination of education and relevant experience will be considered.

Preferred Education:

  • Bachelor's degree in Finance, Accounting, Economics, or Business Administration.
  • Advanced coursework or certificate in wealth management, financial planning, or investments.

Relevant Fields of Study:

  • Finance
  • Economics
  • Accounting
  • Business Administration
  • Financial Planning

Experience Requirements

Typical Experience Range: 2–6 years in private wealth, private banking, or broker-dealer client servicing/operations.

Preferred:

  • 3+ years supporting high-net-worth or ultra-high-net-worth clients in a private wealth or private banking environment.
  • Demonstrated experience as a registered representative with active FINRA registrations (Series 7 & 66 preferred).
  • Prior exposure to custodial operations (Schwab, Fidelity, Pershing), CRM systems, and advisory fee billing.
  • Track record of handling complex account types (trusts, estates, alternative investments) and supporting advisor workflows.

This profile is crafted to attract experienced Registered Private Wealth Client Associates who possess the licensing, custody platform knowledge, client service orientation, and operational rigor required to support a high-performing private wealth advisory team.

Explore More Careers