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Wealth Management Lawyers

The Job

Job duties for wealth management lawyers vary by the size of the employer, the number of lawyers it has on staff, and other factors. At a small WM firm, there may be just a chief legal officer who handles everything from contracts and due diligence, to regulatory compliance and risk management issues, and employment law and labor issues. At a large WM company, the chief legal officer will be assisted by lower-level attorneys as well as a team of paralegals and legal secretaries. There will also be distinct human resources, risk, and compliance departments. Typical duties for wealth management lawyers:

  • advising partners on the structuring and formation of investment funds 
  • providing general legal advice on the firm’s investment activities, products, and services
  • drafting agreements such as client agreements, confidentiality agreements, vendor services agreements, and custody agreements
  • structuring estates and trusts, business succession plans, and wills for high-net-worth individuals
  • providing advice on tax minimization during the transfer of wealth
  • reviewing and negotiating contracts with third-party service providers
  • preparing required legal filings
  • overseeing and handling litigation, arbitration, and other proceedings that involve the firm
  • providing research and due diligence on legal, financial, regulatory, and other areas of risk
  • assisting senior leadership to develop, document, and implement processes and policies to ensure compliance with the legal and regulatory environment
  • advising clients regarding laws such as the Securities Act of 1933, Securities Exchange Act of 1934, Commodity Exchange Act of 1936, Investment Advisers Act of 1940, Investment Company Act of 1940, Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010, and other national and state securities laws
  • responding to inquiries and enforcement actions by the Securities & Exchange Commission and the U.S. Department of Justice
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