Family Offices Services Manager

About this role

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

Skills and categories