Legal Counsel Retail Advisory Services

At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident.

We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity.

Join us for the opportunity to grow and make a difference in ways that matter to you.

About the Role

The Legal Counsel will be a member of the legal team supporting the firm's U.S. retail wealth management businesses. The Legal Counsel will provide practical legal advice and guidance on the design, distribution, and ongoing operation of advisory solutions for retail investors, including managed accounts, financial planning, digital and advisor-delivered investment advice, and broker-dealer recommendations. The role will support workplace and retail retirement accounts and related rollover and individual retirement account matters.

The Legal Counsel will analyze and interpret applicable laws, regulations, and regulatory guidance, including the Investment Advisers Act of 1940, Regulation Best Interest, the federal securities laws, FINRA rules, ERISA, and the Internal Revenue Code; provide legal advice regarding retail advisory and brokerage products and services, including client agreements, disclosures, regulatory filings, and related governance and supervisory matters; and provide legal support for strategic business initiatives, product development, and regulatory matters affecting the firm’s retail wealth management businesses. This role will coordinate with senior attorneys and collaborate closely with business, compliance, risk, operations, product, technology, and other stakeholders.

Note: This is an individual contributor role.

Role Summary

Requires specialized knowledge and expertise in retail investment advisory, broker-dealer, and retirement matters and experience integrating related legal and regulatory disciplines.

Supports a legal discipline or cross‑functional program of notable risk; uses sophisticated analytical thought to identify practical and innovative solutions.

Accountable for own work and may provide guidance to others; contributes to standards and approaches used by the legal team.

Works independently, with guidance in complex situations.

Acts as a legal advisor to management and key internal and external stakeholders on broad-ranging projects.

Responsibilities

• Provides legal advice and guidance on retail investment advisory and broker‑dealer products and services, including managed account programs, financial planning, digital and advisor‑delivered investment advice, broker‑dealer recommendations, and related client experiences. Advises on the design, launch, enhancement, and ongoing operation of these offering and on the application of fiduciary and conduct standards, including the Advisers Act fiduciary duty and Regulation Best Interest.

• Advises on workplace and retail retirement matters, including participant education and advice, plan and IRA distributions, rollovers, and retirement income solutions. Analyzes issues under ERISA and the Internal Revenue Code, including fiduciary standards, prohibited transaction restrictions, and applicable exemptions, and coordinates with senior attorneys on novel or particularly complex matters.

• Reviews business issues arising from covered activities; conducts legal research and analysis; and develops solutions that balance business objectives and stakeholder interests with legal, regulatory, financial, and reputational risk. Provides thoughtful and thorough legal advice under tight deadlines and prioritizes competing requests.

• Drafts and reviews client agreements, program documents, disclosures, and other legal documentation supporting covered activities. Advises business partners and other stakeholders on legal and regulatory issues associated with product design, distribution practices, conflicts of interest, fees and compensation, account and product recommendations, marketing and communications, regulatory filings, and related governance and supervisory matters.

• Analyzes and interprets new laws, regulations, regulatory guidance and enforcement developments and advises on their impact on covered activities. Maintains in‑depth knowledge of applicable requirements under the Securities Act of 1933, Securities Exchange Act of 1934, Investment Company Act of 1940, Investment Advisers Act of 1940, ERISA, the Internal Revenue Code, and SEC, FINRA, and Department of Labor rules and guidance.

• Collaborates with business leaders and other stakeholders, including Compliance, Risk, Audit, Operations, and Privacy, to evaluate legal and regulatory issues and develop practical solutions on complex matters presenting significant legal or regulatory risk. May provide legal support in connection with regulatory examinations, inquiries, and interactions with regulators and outside counsel, as appropriate.

• Maintains an in‑depth understanding of relevant products