Family Offices Services Manager

FinStrat Management • Annapolis, MD

3d • Onsite

About The Position

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.

Requirements

• 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

Nice To Haves

• Prior experience as a named portfolio manager on a discretionary account with documented performance track record
• Experience managing capital in a family office or multi-family office environment, not just an institutional or retail wealth context
• Familiarity with crypto asset reporting, covered call overlays on concentrated positions, and the tax coordination those strategies require
• Working knowledge of LP/PE structures, capital call mechanics, and IRR computation for illiquid sleeves
• Comfort operating without a large support infrastructure — this role rewards self-sufficiency and judgment under ambiguity

Responsibilities

• 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
• 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
• 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
• 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
• 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

Benefits

• Competitive base salary commensurate with experience
• performance-based bonus tied to portfolio outcomes, client retention, and deliverable quality
• equity participation in FSM's family office practice as it scales

What This Job Offers

• Job Type: Full-time
• Career Level: Senior