A portfolio manager works for a large bank or investment firm, and is responsible for analyzing and overseeing client investment portfolios. A portfolio manager job description involves advising clients on the best course of action with regard to their investments, researching stock market trends, and ensuring that assets are maintained or improved.
A portfolio manager studies and analyzes the daily state of the stock market, determines the best investment strategies and opportunities, manages client retirement and investment funds, and addresses questions and concerns of investment clients.
Essential Duties and Responsibilities of a Portfolio Manager
- Monitors client investments.
- Maintains records and files of all portfolio activity.
- Keeps clients up to date on the state of their portfolios.
- Studies stock market trends on a daily basis.
- Analyzes Roth IRAs, hedge funds, 401(k)s, stock options, and other investment opportunities.
- Applies knowledge of trends to client portfolios, suggesting changes or adjustments accordingly.
- Meets with clients to determine their investment goals.
- Studies clients’ financial holdings, income, and financial background.
- Advises clients on the best investment opportunities and strategies for their lifestyle.
- Explains and differentiates between various investment opportunities, stocks, and funds.
- Assists clients in developing a tailor-made portfolio.
- Consults with clients prior to making any major changes or decisions with regard to portfolios.
- Attends investment firm meetings.
- Delivers presentations on client portfolios and recent market trends.
- Devises new and effective ways to successful manage client portfolios.
- Networks with clients to build strong relationships.
Required Knowledge, Skills and Abilities
- Exhibits ability to conduct ongoing independent research into market trends and activity.
- Possesses detailed knowledge of economic theory and financial terminology.
- Possesses detailed knowledge of best investment practices.
- Maintains professional and confident demeanor.
- Exhibits patients when working with clients.
- Communicates clearly and effectively.
- Demonstrates ability to translate financial language into layman’s terms for explanatory purposes.
- Possesses strong analytical and problem-solving skills.
- Demonstrates ability to make informed and logical management decisions.
- Exhibits affinity for strategic financial planning.
- Demonstrates strong interpersonal skills.
- Is capable of applying economic theory and research to daily practical management activity.
- Exhibits ability to remain calm and think analytically during stressful situations.
Education and Experience
- Bachelor’s Degree in Finance, Business, or Economics is required.
- Must successfully pass CFA (Chartered Financial Analyst) exam.
- Must obtain Series 7 license.
- Previous work experience or internship in the financial sector strongly preferred.
- The majority of working hours will be spent in an office setting monitoring portfolios and meeting with clients.
- Some local travel for client meetings may be necessary.
- Workweeks often exceed the standard 40 hours.
- Work environment may be high stress in periods of economic downturn or market instability.
- Average salaries for portfolio managers range from $60,000 to $150,000 depending on years of experience and size of the investment company.
- The top paid and most established professionals can make between $200,000 and $450,000 per year.