Investment Associate
Frec
Investment Associate
Frec
Direct indexing platform with tax-loss harvesting
Frec is building the modern investment platform for high-net-worth investors. We combine self-directed investing with continuously managed strategies in a single brokerage account, bringing capabilities traditionally delivered through wealth managers directly to our customers.
We see AI as a way to make sophisticated investing more personal and intuitive. The investment infrastructure we’ve already built gives us a foundation to help customers make better decisions without giving up control of their financial lives.
Customers have entrusted us with $1.5 billion in assets, up 4x in the last year. We’re backed by Greylock and have reached this scale with a small team. The people who join now will help build the primary investment platform for a new generation of investors.
We’re hiring a Portfolio Manager to oversee thousands of customer portfolios and help build an AI experience that gives every Frec customer access to a personal portfolio manager.
You’ll help ensure our portfolios are behaving as intended, understand what’s driving their performance, and investigate when something needs attention. You’ll work closely with our investment team and engineers to improve how we manage portfolios at scale.
The opportunity goes beyond overseeing portfolios. You’ll help turn your investment expertise into a product that helps customers understand their investments and make better decisions. That means shaping how AI analyzes a customer’s portfolio and explains the tradeoffs, with licensed human oversight where judgment matters most.
This is a highly technical, hands-on role for someone who knows systematic long/short equities deeply and wants to build. You should be as comfortable investigating a portfolio issue as you are collaborating with engineers to design scalable portfolio systems.
Manage portfolios at scale: Oversee thousands of customized equity accounts. Monitor performance against benchmarks, review risk exposures, and define automated checks for tracking error, cash balances, and factor exposures.
Enhance strategies. Bring insights from live portfolios to researchers. Help refine portfolio construction, risk monitoring, risk and performance attribution, and support the testing and rollout of new investment capabilities. Help design alerts to surface unexpected behavior, focusing human attention where judgment matters most.
Maintain tax-awareness & compliance: Consider tax-awareness throughout portfolio implementation, including awareness of US tax regulations relevant to both long only and long/short equity investing. Ensure compliance with all internal and external rules and regulations.
Build our AI experience: Partner with product and engineering to translate your quantitative expertise into automated portfolio analysis, personalized guidance, and rigorous real-world test cases for AI outputs.
Set a high bar for investment accuracy. Develop real-world test cases and evaluate AI-generated analysis and recommendations. Identify missing context or flawed assumptions. Work with compliance to establish appropriate boundaries and determine when a licensed professional needs to review a decision.
Work directly with customers. Explain portfolio performance and help customers evaluate complex investment decisions, including concentrated-stock transitions and the tradeoff between tax efficiency and tracking risk. Turn recurring questions into capabilities we can build into the product.
Proven PM Experience: 5+ years of quantitative equity portfolio management with direct responsibility for decisions and outcomes—not only research or client coverage, strongly preferring experience with long/short strategies. Quantitative equity research experience is a significant plus.
Deep expertise in equities portfolio management: You understand how market and factor exposures drive returns, how to measure risk, and how implementation choices affect performance. You’re comfortable with portfolio optimization, performance attribution, margin requirements, and the economics of financing and short borrowing. You possess solid economic intuition and good commercial instinct.
Technical proficiency: An undergraduate or graduate degree in a STEM field, plus robust programming experience (Python, SQL) for analyzing portfolio data and collaborating with engineers.
Exceptional execution & collaboration: You have exceptional attention to detail, are careful/thorough, well-organized, and possess effective time management skills. You thrive in a team-oriented, collaborative environment and bring a great attitude to work.
A builder’s mindset: You experiment with AI tools and think critically about their outputs. You can translate investment reasoning into clear product requirements and recognize when an answer sounds convincing but is incomplete or wrong.
Clear, credible communication. You can earn the trust of sophisticated investors and explain a difficult portfolio decision without hiding behind jargon. You’re comfortable discussing uncertainty and helping customers understand their options.
Sound judgment and ownership. You notice when something doesn’t look right and follow through until you understand it. You know when to act independently and when to bring in another expert.
An understanding of tax-aware investing is a plus. You understand tax-loss harvesting and wash-sale constraints, including the challenges of transitioning appreciated portfolios. You can evaluate tax benefits alongside investment risk and costs rather than treating harvested losses as the only measure of success.
A CFA designation is preferred, but not required. You should hold, or be willing to obtain, the registrations needed for your responsibilities.
Competitive salary and equity grants
Fully paid health, vision and dental insurances
401k
Monthly allowance to help with maintaining a healthy body and mind (fitness & mental health components)
Flexible (Unlimited) paid time off
Visa sponsorship & immigration support
Daily in-office lunch and dinner
Office in San Francisco/New York for in-person collaboration (close to public transit options)
If all of the above resonates with you, reach out to us at [email protected] and join us for the ride!
Frec builds a direct indexing platform that lets self-directed investors own the individual stocks in an index (like the S&P 500) instead of buying an ETF. It works through a self-service mobile app and platform, charging an annual advisory fee starting at 0.09% with a $20,000 minimum, and it enables daily stock-level tax-loss harvesting to offset gains. Beyond direct indexing, Frec offers a high-yield Frec Treasury cash option, portfolio lines of credit against stock holdings, and zero-commission trading for stocks and ETFs, all backed by its SEC-registered adviser and FINRA-member broker-dealer structure. The company differentiates itself by providing stock-level tax-loss harvesting and direct ownership on an accessible, low-cost platform rather than ETF-based investing or traditional wealth-management models. Frec’s goal is to make sophisticated, previously high-cost investment strategies available to a broad, financially savvy, self-directed audience.
Explore more opportunities at Frec