Family Offices Services Manager

Family Office Investment Services Manager

About the Role

FSM seeks a CFA Charterholder to lead investment services delivery — and directly manage capital — across a growing roster of ultra-high-net-worth client families. This role carries a dual mandate: you are both the institutional framework builder who ensures every advisor is tracked, benchmarked, and held accountable, and a discretionary portfolio manager with direct responsibility for assigned capital sleeves within each client's overall allocation.

This is a rare seat for a CFA who has managed real money, is fluent in multi-asset portfolio construction, and can simultaneously operate at the orchestration level — sitting above a roster of outside managers — and at the execution level, managing positions directly. You will not be a passive scorekeeper. You will be in the game.

What You'll Own

Discretionary Portfolio Management

Manage assigned capital sleeves across client portfolios on a fully discretionary basis, spanning liquid equities, fixed income, and select alternatives

Construct and maintain model portfolios with explicit factor exposures, benchmark targets, and risk budgets approved by the client principal

Execute investment decisions including security selection, position sizing, rebalancing, and tactical allocation shifts within the agreed investment policy statement (IPS)

Generate time-weighted and money-weighted return reporting on directly managed sleeves, held to the same S&P 500 benchmark standard applied to all outside managers

Produce written investment rationale for every material position change — no undocumented trades

Coordinate with client tax advisors on tax-lot management, wash sale rules, and the interaction between active trading and the client's broader tax posture

Investment Oversight & Multi-Manager Coordination

Maintain and continuously improve performance measurement frameworks for each client's full advisor roster, benchmarked against the S&P 500 and appropriate secondary indices

Produce quarterly manager scorecards covering rolling 1-, 3-, and 5-year returns (gross and net of fees), with plain-English summaries written for principals, not advisors

Build and maintain pairwise correlation matrices and factor-decomposed diversification analyses across all active managers, including directly managed sleeves

Perform look-through concentration analysis to surface true single-name, sector, geography, and thematic exposures across the entire portfolio — including positions you hold directly

Portfolio Analytics & Risk

Decompose each manager's results by asset class, sector, and factor exposure (value, growth, size, momentum); apply the same attribution framework to your own directly managed sleeves

Develop and maintain liquidity waterfall models under defined stress scenarios, incorporating LP lockups, directly held positions, real estate assumptions, and credit line availability

Monitor concentration risk in real time across all sleeves — both managed externally and managed directly — and escalate when aggregate exposures exceed agreed thresholds

Partner with the FSM operations team on cross-entity insurance and risk audits, contributing investment-side risk context

Investment Policy & Client Governance

Draft and maintain a written Investment Policy Statement (IPS) for each client, covering return objectives, risk tolerance, liquidity requirements, constraints, and benchmark selection

Lead quarterly investment review meetings with family principals; present performance of directly managed sleeves alongside outside manager scorecards in a unified format

Participate in asset allocation reviews with the client's strategic advisor; provide quantitative support for allocation shift recommendations

Translate institutional-grade analytics into direct, no-jargon deliverables that respect client sophistication without burying them in unnecessary complexity

Advisor Coordination & Governance

Serve as FSM's primary point of contact for each client's wealth management roster, operating as an objective oversight layer above individual outside managers

Facilitate quarterly advisor review sessions; provide written scorecard summaries to the client principal in advance of each meeting

Coordinate on capital call timing, distribution reinvestment, and cash management across all sleeves

Required Qualifications

Bachelor's degree in finance, economics, mathematics, or a related quantitative field

CFA Charterholder in good standing

Series 65 (or Series 66) license, or willingness to obtain prior to assuming discretionary management responsibilities; RIA registration experience preferred

7+ years of experience in investment management, with demonstrated responsibility for managing discretionary capital — not just analyzing or recommending

Deep fluency in portfolio construction, performance attribution, factor analysis, and multi-asset risk management

Direct experience with investment policy statements, rebalancing frameworks, and client-level reporting for discretionary accounts

Demonstrated experience working in or alongside multi-entity family office structures (trusts, LLCs, LP structures, multi-state tax exposure)

Proficiency with portfolio management and analytics tools (Addepar, Black Diamond, Orion, Masttro, or equivalents); ability to operate effectively without them when necessary

Exceptional written communication — your investment memos and scorecards will go directly to principals

Preferred Qualifications

Prior experience as a named portfolio manager on a discretionary account with documented performance track reco