SMA Investment Manager

About the Department

Strategic Advisers, LLC, a registered investment advisor and wholly owned subsidiary of FMR LLC, offers investment management services through Fidelity's various distribution channels including retail, workplace, and institutional markets. With over 30 years of expertise, Strategic Advisers focuses on designing, building, and managing asset allocation solutions alongside developing methodologies for Fidelity’s investment planning tools to support investors in achieving their financial objectives. The team manages more than $1 trillion in assets across Fidelity and third-party investment vehicles, covering over 4 million customer accounts.

The Team

The Separately Managed Account (SMA) Team handles model management, portfolio construction, ongoing management, and trading for Fidelity's retail managed accounts. They also develop and launch new products and initiatives. The team applies investment knowledge, quantitative methods, and technical skills to manage single asset class portfolios for high-net-worth and affluent individual clients and trusts.

Role Overview

The SMA Investment Manager supports senior investors focusing on discretionary management of international and US equity portfolios available both as standalone and sleeve accounts. The role requires advanced investment expertise for reviewing and trading tax-aware and non-taxable SMAs, implementing tax-efficient transition strategies, and conducting hypothetical client account analyses. The position plays a key role in advancing sophisticated investment solutions such as custom multi-account management and asset location strategies.

Primary Responsibilities

• Perform daily equity trades across individual client portfolios in standalone formats.
• Ensure alignment of portfolios with models and coordinate with operations teams on pre-market verifications.
• Track and maintain portfolio performance, execution quality, and risk indicators.
• Foster and maintain relationships with internal trading partners.
• Stay informed about market news and assess market reactions.
• Utilize complex portfolio construction techniques that optimize across multiple tax jurisdictions for individual client portfolios.
• Analyze and interpret investment risks and returns impacting portfolio performance.
• Develop comprehensive knowledge of internal research and business cycle positioning to deliver superior pre- and post-tax returns reflecting the investment philosophy.
• Participate in evolving the broader investment philosophy and strategic process.
• Collaborate with teams across SAI and Fidelity, including Business Oversight, Portfolio Management, Research, Technology, and Operations to refine model management and implementation.

Required Qualifications

• Bachelor’s degree mandatory; preference given to degrees or coursework in finance, accounting, or economics.
• Professional certifications such as CPA, CFP, or CQF are advantageous or in progress.
• A minimum of 5 years of relevant investment experience within research, portfolio management, or trading domains.

Skills and Experience

• Capable of thriving in high-pressure settings with adaptability, creativity in problem-solving, multitasking across several projects.
• Strong communication skills, both verbal and written.
• Exceptional attention to detail combined with strong analytical capabilities enabling independent decisions under time constraints.
• Effective collaborator with innovative mindset, comfortable handling ambiguity.
• Familiarity with portfolio optimization tools like Axioma and risk assessment models such as Barra.
• Robust quantitative analysis expertise for overseeing portfolio holdings and exposures.
• Experience with AI tools and techniques preferred.
• Proficiency in using financial data platforms including FactSet and Bloomberg.
• Advanced knowledge of programming languages such as R, Python, and SQL strongly preferred.
• Ability to work with large datasets and utilize database management, reporting, and visualization tools like Tableau.