Assistant Vice President - Portfolio Management and Tax Overlay
LPL Financial · Fort Mill, United States +1 · 11d ago
Where Ambition Meets Innovation
Build a career that matches all your initiative with an impressive dose of innovation. From cutting-edge resources and a collaborative environment to the freedom to make an impact and more, you’ll find the ingredients you need at LPL Financial to shape your success while helping clients pursue their financial goals
Job Overview:
Lead the evolution of trading and portfolio implementation for LPL’s Tax Overlay program with a focus on designing and scaling tax-optimized portfolio trading capabilities, advanced direct-indexing capabilities, and delivering advisor-friendly solutions as an Assistant Vice President, Portfolio Manager and Tax Overlay, a key team leader within LPL’s Overlay Portfolio Management Group (OPMG). The OPMG team is part of LPL’s Wealth Management organization, and oversees all centrally traded Advisory Programs for LPL, with over 1 million accounts and ~$250B in AUM. This role requires expertise in tax-optimized investment philosophies and the ability to translate them into scalable, practical applications. The ideal candidate will be an innovator adept in designing and managing effective trading workflows for our most sophisticated investment portfolios, which are complex Unified Managed Accounts with a tax overlay component designed to deliver better after-tax outcomes for investors.
Success in this role requires a balance of strategic planning, stakeholder engagement, and disciplined execution, partnering across business units to meet enterprise priorities. You’ll collaborate with internal and external stakeholders to drive alignment, manage risks, and uphold the integrity and scalability of program objectives. This position demands a unique blend of executional rigor, strategic thinking, and deep platform knowledge. Success will be measured by the seamless implementation of tax overlay services, stakeholder satisfaction, and new process implementation and scalability.
Responsibilities:
Strategic Platform Leadership: Lead rollout and scaling of tax-optimized direct indexing and overlay frameworks, aligning with LPL’s enterprise growth targets.
Innovation in Trading Technology: Design and implement automated tools and proprietary trading platforms to enhance scalability and performance of overlay and direct indexing strategies.
Design and Execution at Scale: Develop and implement sophisticated tax-optimized multi asset UMA and direct indexing overlay trading capabilities that integrate multi-factor risk models with client-specific customizations, delivering scalable, tax-efficient, and highly personalized portfolio solutions.
Tax Overlay Execution: Oversee and manage daily tax efficient portfolio management workflows — account and sleeve-level optimization, trade review and trade execution, and tax sensitive account transition processes leveraging industry leading cloud-based infrastructure, database tools, and machine learning.
Performance Monitoring & Analytics: Drive daily oversight using performance metrics suitable for complex, tax sensitive investment portfolios such as short-term/long-term net realized gains, tracking error at the account and sleeve level, and portfolio statistics to support advisor-facing teams that will mitigate escalations.
Advisor & Stakeholder Engagement: Build high-impact advisor materials, facilitate training sessions, and present the value of tax overlay solutions to internal and external stakeholders.
Requirements:
Bachelor’s Degree required.
Series 7 and 66 (or 63/65 equivalent)
5+ years in investment-management program leadership, advisory platforms, or overlay-strategy implementations.
2 + years of quadratic and mixed-integer optimization and multi-factor risk modeling, with hands-on experience using industry-leading platforms such as Axioma, Northfield, MSCI Barra & QIS, n-factor Risk Models, Vestmark VAST, Envestnet/PMC or other advanced tax overlay technologies for scalable, tax-aware portfolio construction.
Core Competencies:
Proven track record of driving enterprise initiatives with executive-level impact.
Demonstrated ability to lead through ambiguity, manage competing priorities, and deliver against tight deadlines.
Exceptional storytelling, presentation, and influencing skills; comfortable engaging C-suite and advisor audiences.
Deep expertise in unified managed accounts, portfolio accounting systems, and trading operations.
Strong analytical mindset; data science and deep data analytics background, advanced Excel (pivot tables, VBA/macros), and data-visualization proficiency.
Working knowledge of Modern Portfolio Theory, multi-factor risk models, and tax-optimization algorithms.
Strategic thought leader with strong analytical skills.
Expert user of Microsoft Excel, Access, and PowerPoint, including pivot tables and SmartSheet.
Excellent presentation skills, both in terms of creating clear messaging and professional presentation and delivery.
Strong interpersonal and team-building skills.
Accessible and approachable; a champion of winning together as a team.
Preferred Qualifications:
Familiarity with LPL’s Advisory Account framework and technology ecosystem.
CFA designation or progress toward completion.
MBA or advanced degree in Finance, Mathematics, or Engineering
Experience leading Tax Overlay or Direct Index Tax solutions focusing on scaling tax-aware rebalancing and overlay workflows.
Experience integrating advanced trading technology and automation for scalable tax overlay execution.
Experience with industry leading Tax Overlay or Direct Index portfolio managers and solution providers such as Envestnet, Parametric, Russell, Natixis, 55IP, MyVest, Vestmark, InvestCloud, or others.
Pay Range:
$119,480.00 - $199,099.00Company Overview:
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace(6) , LPL supports over 32,000 financial advisors and the wealth management practices of approximately 1,100 financial institutions, servicing and custodying approximately $2.3 trillion in brokerage and advisory assets on behalf of approximately 8 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.
At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services, and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.
For further information about LPL, please visit www.lpl.com.
Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.
Information on Interviews:
LPL will only communicate with a job applicant directly from an @lplfinancial.com email address and will never conduct an interview online or in a chatroom forum. During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicant’s bank or credit card. Should you have any questions regarding the application process, please contact LPL’s Human Resources Solutions Center at (855) 575-6947.
EAC 5.19.26