Portfolio Trader
$75k - $95k USD
Position Summary
Focus Partners Wealth is seeking a Portfolio Trader to join our team! The Portfolio Trader works on the Centralized Portfolio Management Team. The Portfolio Trader’s primary responsibility is to manage all portfolio/investment related activities for their respective wealth management teams. They are responsible for implementing the investment strategy, managing appropriate cash balances, and identifying opportunities for rebalancing, portfolio improvement, and tax loss harvesting. A successful Portfolio Traders will conduct all daily, weekly, and monthly portfolio reviews.
Focus provides team members the flexibility to work a hybrid schedule. Our hybrid model is defined as 3 days in office work required per week, while giving team members the option to work remotely 2 days per week, or as assigned by their team leader.
Primary Responsibilities
- Deep understanding of our investment philosophy and the investments we use.
- Responsible for setting up clients in rebalancing software and updating targets when a client’s allocation changes.
- Run rebalancing software to identify client portfolios that are out of balance and to determine what action, if any, should be taken.
- Cash Flow Planning and Cash Management:
- Manage appropriate minimum and max cash thresholds as well as recurring contributions and distributions.
- Confirm accuracy of a client’s cash needs with advisory team on a periodic basis.
- Propose and execute plans for RMDs and any account cash flows.
- Perform review of cash to be invested or generated.
- Appropriately manage cash flow of accounts to provide for timely collection of fees. Provide and execute recommended action plans to collect on any outstanding uncollected fees.
- Identify opportunities to harvest losses as well as opportunities to switch to a more tax-efficient (or more preferred) investment vehicle.
- Develops recommendations for client accounts for which we do not maintain discretion.
- Provide superior, friendly and knowledgeable service by telephone and e-mail with financial advisors
- Effectively prioritize work to meet trade deadlines and service level agreements
Qualifications
- Two years of experience in financial services required
- Experience working with RIAs and Independent Financial Advisors a plus.
- Bachelor’s degree.
- Equity and mutual fund trading experience and familiarity with Pershing, Charles Schwab Institutional, Fidelity Institutional, or TD Ameritrade Institutional a plus.
- Strong proficiency in Microsoft Applications
- Orion Software, Envestnet Software or Custodian website experience preferred
- Strong written and verbal communication skills.
- Desire to take ownership and provide the best customer service in the industry
- Energetic self-starter with an extremely positive, can-do attitude
- Strong organization skills with exceptional attention to detail
- Must work well in a team environment, supporting others and filling in as necessary
- Must be able to prioritize and switch tasks as needed
This position is an exempt position. The annualized base pay range for this role is expected to be between $75,000-$95,000 base salary compensation range. Actual base pay may vary based on factors including, but not limited to, experience, subject matter expertise, geographic location where work will be performed, and the applicant’s skill set. The base pay is just one component of the total compensation package. Other rewards may include an annual cash bonus and a comprehensive benefits package, including but not limited to medical, dental, vision, life insurance, and 401(k). Please note that the job title is subject to change based on the selected candidate’s experience and education.
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Focus Partners Wealth is an organization of wealth, asset, and business management resources that brings strength, innovation, and partnership to client relationships. Through a comprehensive range of services, Focus Partners Wealth supports clients at every stage of life, helping them manage their financial future. With over $180 billion in regulatory assets under management, Focus Partners Wealth uses research-backed investment strategies to create custom-built portfolios and delivers personalized wealth planning solutions to clients in all 50 states. Focus Partners Wealth is part of Focus Financial Partners, a leading financial services firm comprised of wealth management, family office, and business management services. To learn more about Focus Partners Wealth, visit focuspartners.com or follow the company on LinkedIn.
Focus is an equal opportunity employer and bases its employment decisions on the employee or candidate’s skillset, and without regard to an employee or candidate’s race, color, religion, sex (including pregnancy), gender identity, sexual orientation, national origin, age, disability, genetic information, veteran status, or any other characteristic protected by local, state and/or federal law.
Focus complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact careers@focuspartners.com.
For Indiana Applicants: It is unlawful for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.
For Maryland Applicants: I UNDERSTAND THAT UNDER MARYLAND LAW, AN EMPLOYER MAY NOT REQUIRE OR DEMAND, AS A CONDITION OF EMPLOYMENT, PROSPECTIVE EMPLOYMENT OR CONTINUED EMPLOYMENT, THAT ANY INDIVIDUAL SUBMIT TO OR TAKE A POLYGRAP OR SIMILAR TEST. AN EMPLOYER WHO VIOLATES THIS LAW IS GUILTY OF A MISDEMEANOR AND SUBJECT TO A FINE NOT EXCEEDING $100.
For California Applicants: Information on your California privacy rights can be found here
For Massachusetts Applicants: It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this shall be subject to criminal penalties and civil liability.
For Montana Applicants: If hired, the employment relationship is governed by the Wrongful Discharge from Employment Act. Mont. Code Ann. Section 39-2-901.
For Rhode Island Applicants: Focus is subject to Chapters 29-38 of Title 28 of the General Laws of Rhode Island and is therefore covered by the state’s workers’ compensation law. If you willfully provide false information about your ability to perform the essential functions of the job, with or without reasonable accommodations, you may be barred from filing a claim under the provisions of the Workers’ Compensation Act of the State of Rhode Island if the false information is directly related to the personal injury that is the basis for the new claim for compensation. The Company complies fully with the Americans with Disabilities Act.