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Trust officer vs portfolio manager

The differences between trust officers and portfolio managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a trust officer and a portfolio manager. Additionally, a portfolio manager has an average salary of $114,671, which is higher than the $61,493 average annual salary of a trust officer.

The top three skills for a trust officer include real estate, portfolio and wealth management. The most important skills for a portfolio manager are portfolio management, customer service, and risk management.

Trust officer vs portfolio manager overview

Trust OfficerPortfolio Manager
Yearly salary$61,493$114,671
Hourly rate$29.56$55.13
Growth rate17%17%
Number of jobs56,62343,192
Job satisfaction--
Most common degreeBachelor's Degree, 70%Bachelor's Degree, 71%
Average age4646
Years of experience88

What does a trust officer do?

Trust officers are professionals who are responsible for administering trust account portfolios of their clients. These officers are required to develop business relationships with their clients by responding to the request of their clients and facilitating internal service coordination to resolve issues. They must handle activities that are associated with personal or corporate trust while providing consultation on matters related to finance and wealth. Trust officers usually work in the financial industry and report directly to a manager or head of a department.

What does a portfolio manager do?

A portfolio manager is responsible for managing the clients' investment portfolios to advise them of the best investment plans to achieve their financial goals and objectives. Portfolio managers determine the most suitable options by evaluating the clients' credit score and risk potential and the client's financial background. A portfolio manager should be highly knowledgeable and updated with the recent financial industry changes to decide on investment plans with maximum returns.

Trust officer vs portfolio manager salary

Trust officers and portfolio managers have different pay scales, as shown below.

Trust OfficerPortfolio Manager
Average salary$61,493$114,671
Salary rangeBetween $30,000 And $121,000Between $66,000 And $198,000
Highest paying CityNew York, NYStamford, CT
Highest paying stateConnecticutConnecticut
Best paying companyNeuberger BermanThe Citadel
Best paying industryFinanceFinance

Differences between trust officer and portfolio manager education

There are a few differences between a trust officer and a portfolio manager in terms of educational background:

Trust OfficerPortfolio Manager
Most common degreeBachelor's Degree, 70%Bachelor's Degree, 71%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Trust officer vs portfolio manager demographics

Here are the differences between trust officers' and portfolio managers' demographics:

Trust OfficerPortfolio Manager
Average age4646
Gender ratioMale, 48.1% Female, 51.9%Male, 66.6% Female, 33.4%
Race ratioBlack or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.4% White, 64.4% American Indian and Alaska Native, 0.3%Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.6% American Indian and Alaska Native, 0.3%
LGBT Percentage11%11%

Differences between trust officer and portfolio manager duties and responsibilities

Trust officer example responsibilities.

  • Manage personal trusts, special needs trusts, conservatorships, charitable remainder trusts and estates.
  • Manage processing transfer requests of new IRA accounts and the corresponding follow up and collection activities.
  • Achieve this through aggressive sales calling on CFO's of large corporations, attorneys, CPAs and political officials.
  • Manage the day to day affairs of various personal trust relationships, IRAs, custodial accounts, powers of attorney.
  • Manage portfolio of accounts consisting of housing, transportation, education and industrial development of both municipal and corporate issuers.
  • Contact clients, financial advisors, payroll companies and CPA's regarding items in question.
  • Show more

Portfolio manager example responsibilities.

  • Manage ongoing existing client needs and assist in credit structuring at loan origination.
  • Manage over $900M in U.S. Equities and fixed-income; are simultaneously responsible for monitoring over $1.4b in global assets
  • Manage governance, engage stakeholders and communicate budget impact to senior management.
  • Conduct post-promotion analysis and manage financial reporting to ensure favorable ROI for clients.
  • Create PowerPoint presentation books for clients.
  • Facilitate internal, external, GAAP audits.
  • Show more

Trust officer vs portfolio manager skills

Common trust officer skills
  • Real Estate, 8%
  • Portfolio, 7%
  • Wealth Management, 7%
  • Business Development, 7%
  • Estate Planning, 6%
  • Risk Management, 6%
Common portfolio manager skills
  • Portfolio Management, 10%
  • Customer Service, 9%
  • Risk Management, 5%
  • Project Management, 5%
  • Financial Statements, 5%
  • Real Estate, 5%

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