Wealth Management Analyst / Associate

JOB DESCRIPTION: WEALTH MANAGEMENT ANALYST / ASSOCIATE

FitzRoy Investment Advisors (FRIA) is a Miami-based multi-family office with AUM of ~$1B+. The 9-employee firm advises over 15 ultra-high net worth families and individuals from the US and Latin America.

FRIA is looking to hire a Wealth Management Analyst to provide analytical and operational support to the firm’s client service team.

The role is ideal for a recently graduated business or finance professional who wants to work in a boutique firm with broad exposure to the entire financial advisory cycle: manager selection, portfolio construction, client advisory, consolidated reporting, investment performance measurement and operations support. Junior members of our team quickly become acquainted with professional and systematic processes associated with the financial advisory business and develop their knowledge across the entire spectrum of wealth management.

In addition, this individual to be recruited would benefit from the following:

• A stable, full-time position with a predictable schedule
• Being supported and trained by a collaborative and detail-oriented team that values quality and reliability
• Working in cross-functional areas of wealth management that give one a detailed understanding of the business and industry as a whole and are typically not available at larger, custodial firms
• Gaining insight into how portfolios are constructed, implemented, and adjusted over time to meet clients’ long-term needs and risk appetite
• Directly impacting and contributing to the firm’s operational excellence and client satisfaction

The individual in this role will be expected to coordinate effectively with the operations, clients and investments teams on an ongoing basis. This position requires critical skills such as initiative, collaboration, problem-solving, and organization.

A. Key areas of responsibility:

• CLIENT RESPONSIBILITIES (45%)
  1. Client meetings: gather and prepare necessary materials for periodic client meetings, while building narratives from present and/or past financial markets performance. Attend select client meetings
  2. Client performance reviews: participate in internal portfolio review meetings to discuss performance and recommended changes
  3. Risk profiling: track and update risk profiles of assigned clients to ensure portfolios are in line with agreed objectives
  4. Re-balancing: align the clients’ portfolios’ strategic asset allocation on an on-going basis, as performance and cash flow create discrepancies
  5. Portfolio implementation: draft letters to various custodians to put any portfolio changes in place. This includes any purchases, sales, capital call fundings, transfers, invoice fundings, client requests, etc.
  6. Trade tracking/Custodial communications: confirm all trades, transfers and wires are implemented accurately and cost efficiently
  7. Document checking: check team members’ documents and information for accuracy. This includes letters, Excel documents, PowerPoint presentations, etc.

• OPERATIONS / REPORTING (30%)
  1. Process management: collaborate with the team to ensure 1) the timely delivery of materials, documents and analyses for assigned clients and, 2) that client and investment data is accurate and up-to-date
  2. Consolidated reporting: review the draft and final versions of monthly reports (internal and external) and co-ordinate any changes with the reconciliation and reporting team
  3. Database management: ensure the accuracy and integrity of all data inputted into our consolidated reporting system, as well as proper downloading and filing of all client account statements
  4. Investment documentation: support the team in the completion of subscription documents for new investments (e.g. PE funds)
  5. Coordination with CPA/legal teams: correspond with outside teams to provide the client and any of their other teams with a high level of service and holistic wealth management approach

• INVESTMENT STRATEGY AND MANAGER SELECTION (20%)
  1. Process and methodology: maintain and update formal guidelines for manager selection that are in line with the firm’s investment philosophy
  2. Quantitative due diligence: analyze manager and index performance data using FactSet tools and update manager ranking tools to evaluate current and prospective investment managers
  3. Qualitative due diligence: implement and maintain a consistent cycle/agenda for on-site/telephone diligence meetings with recommended and currently held managers
  4. ‘Recommended’ manager database: maintain an up-to-date database of recommended managers, working closely with the investment advisory and due diligence teams of custodian banks
  5. Asset allocation: perform optimization analyses of client portfolios using historical data to recommend changes to existing SAAs
  6. Investment strategy: read third-party research reports and carry out quantitative analyses of asset class returns and valuations to help the firm devise a ‘house’ view at the macro level
  7. One-off analyses: perform custom investment analyses of all asset classes (including non-financial investments) as requested by clients

• OTHER RESPONSIBILITIES (5%)
  1. Work with team members on ongoing projects, process improvements and efficiencies

B. Interaction with:

1. FRIA Managing Partner and entire FRIA team
2. External: custodian banks, investment managers, third-party providers, CPAs, legal teams, etc.

C. Skills & qualifications required:

1. 0-3 years of experience; Ideal candidates have either just completed their final year of a bachelor’s or master’s degree in finance, business, accounting, or economics with a view to a permanent offer, or young professionals with a degree in one of these fields and relevant career experience.
2. Strong numeracy and quantitative skills
3. Excellent working knowledge of Microsoft Office suite, with an emphasis on Excel and PowerPoint proficiency
4. Consistent attention to detail and a meticulous approach to completing tasks
5. A problem-solving and entrepreneurial approach to work
6. An interest in the financial markets, both public and private
7. Ability to work unsupervised in the preparation of deliverables while remaining highly motivated
8. Ability to manage a dynamic and demanding agenda with potential conflicting priorities
9. Strong work ethic and commitment to getting things done correctly and on time
10. Fast learner with the ability to see and understand the business holistically and get up to speed on the company’s proprietary systems
11. Excellent communication skills, internally and externally, facilitating a comfortable interaction with the team and external parties such as clients, portfolio managers, bankers and brokers, CPAs, lawyers, etc.
12. Language requirements: English required (Spanish helpful but not required)