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Discretionary Portfolio Manager Jobs (NOW HIRING)

Bank of America

Portfolio Manager III

Boca Raton, FL · On-site

Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction ...

Bank of America

Portfolio Manager III

Boca Raton, FL · On-site

Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction ...

Bank of America

Portfolio Manager III

Richmond, VA · On-site

Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction ...

Bank of America

Portfolio Manager III

Richmond, VA

Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction ...

AQR

Research Analyst - Discretionary Macro

Greenwich, CT · On-site

$150K - $175K/yr

Your Role AQR is looking to hire a Research Analyst to join Discretionary Portfolio Management ... within the Macro and Multi-Strategy Group. The Macro and Multi Strategy group focuses on all ...

Axos Bank

FVP, Portfolio Manager

San Diego, CA

$160K - $180K/yr

Eligible for an Annual Discretionary Cash Bonus Target: 17.5% Eligible for an Annual Discretionary ... About This Job The FVP, Portfolio Manager Lead will oversee and manage a team responsible for the ...

Axos Bank

FVP, Portfolio Manager

San Diego, CA · On-site +1

$160K - $180K/yr

Eligible for an Annual Discretionary Cash Bonus Target: 17.5% Eligible for an Annual Discretionary ... About This Job The FVP, Portfolio Manager Lead will oversee and manage a team responsible for the ...

Peraton

Portfolio Manager

Herndon, VA · Hybrid

$86K - $138K/yr

Manage portfolio-level resource allocation, capacity planning, and escalation/resolution of cross ... discretionary bonus in addition to base pay.EEOEEO: Equal opportunity employer, including ...

Peraton

Portfolio Manager

Herndon, VA · On-site

$86K - $138K/yr

Manage portfolio-level resource allocation, capacity planning, and escalation/resolution of cross ... discretionary bonus in addition to base pay. EEO EEO: Equal opportunity employer, including ...

Peraton

Portfolio Manager

Herndon, VA · Hybrid

$86K - $138K/yr

Manage portfolio-level resource allocation, capacity planning, and escalation/resolution of cross ... discretionary bonus in addition to base pay.EEOEEO: Equal opportunity employer, including ...

Bank of America

Portfolio Manager III

Boston, MA · On-site

$135K - $300K/yr

Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction ...

Bank of America

Portfolio Manager III

Boston, MA

$135K - $300K/yr

Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction ...

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All JobsDiscretionary Portfolio JobsDiscretionary Portfolio Manager Jobs

Discretionary Portfolio Manager information

See salary details

$37K

$100.5K

$187.5K

How much do discretionary portfolio manager jobs pay per year?

As of Jun 28, 2026, the average yearly pay for discretionary portfolio manager in the United States is $100,458.00, according to ZipRecruiter salary data. Most workers in this role earn between $65,500.00 and $130,000.00 per year, depending on experience, location, and employer.

What is the difference between Discretionary Portfolio Manager vs Non-Discretionary Portfolio Manager?

AspectDiscretionary Portfolio ManagerNon-Discretionary Portfolio Manager
Decision AuthorityHas full authority to make investment decisions on behalf of clientsProvides recommendations; clients make final decisions
CertificationsTypically holds CFA or CFP certificationsOften holds similar certifications but may have less decision-making authority
Work EnvironmentWorks directly with clients and manages portfolios independentlyWorks alongside clients, advising but not executing trades without client approval
Industry UsageCommon in wealth management and private bankingCommon in advisory roles and financial planning

Discretionary Portfolio Managers have full authority to manage client portfolios without prior approval, while Non-Discretionary Portfolio Managers provide advice and recommendations, leaving the final decision to the client. Both roles often require similar credentials but differ in decision-making power and work approach.

What is a Discretionary Portfolio Manager?

A Discretionary Portfolio Manager is a financial professional who manages investment portfolios on behalf of clients, making buy and sell decisions without requiring prior client approval for each transaction. They operate under a discretionary mandate, which allows them to act quickly and efficiently in response to market conditions. Their main goal is to achieve the client’s investment objectives while adhering to agreed-upon risk parameters and strategies. Discretionary portfolio managers typically work for asset management firms, private banks, or wealth management companies.

What are the key skills and qualifications needed to thrive as a Discretionary Portfolio Manager, and why are they important?

To thrive as a Discretionary Portfolio Manager, you need strong analytical skills, investment knowledge, and typically a relevant degree such as finance, economics, or CFA certification. Familiarity with portfolio management software, trading platforms, and risk analysis tools is essential. Excellent communication, decision-making, and client relationship skills help you build trust and explain complex strategies clearly. These abilities are important to optimize clients’ investment outcomes while maintaining compliance and adapting to changing market conditions.

How does a Discretionary Portfolio Manager typically interact with clients and internal teams to ensure investment objectives are met?

A Discretionary Portfolio Manager frequently collaborates with both clients and internal teams such as analysts, traders, and compliance officers. While they have autonomy in day-to-day investment decisions, they maintain regular communication with clients to clarify objectives, risk tolerance, and performance expectations. Internally, they rely on research and market insights provided by analysts and work closely with traders to execute strategies efficiently. This collaborative approach helps align portfolio management with client goals and regulatory standards, ensuring the portfolio remains on track.
Infographic showing various Discretionary Portfolio Manager job openings in the United States as of June 2026, with employment types broken down into 98% Full Time, 1% Part Time, and 1% Contract. Highlights an 90% Physical, 5% Hybrid, and 5% Remote job distribution, with an average salary of $100,458 per year, or $48.3 per hour.

Portfolio Manager III

Bank of America

Boca Raton, FL • On-site

Full-time

Posted 7 days ago

Job description

Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
This job is responsible for working with complex, high-net-worth investors to create customized investment strategies. Key responsibilities include evaluating, designing, constructing, managing, and monitoring all aspects of discretionary portfolio management including asset allocation, portfolio construction, security/manager selection, trade execution, risk management and compliance, investment reviews, and proactive client communication. Job expectations include helping teams to drive client retention and business development, while mentoring associates.
Responsibilities:
  • Works to understand the client's situation and circumstances to develop and recommend an investment strategy tailored to their unique goals and objectives
  • Manages all aspects of the client's investment portfolio including asset allocation, portfolio construction, security/manager selection, trade execution, risk management and compliance, and investment reviews
  • Collaborates with teammates to deliver the bank's full array of integrated solutions, such as equities, fixed income, alternative investments, and Specialty Asset Management as appropriate
  • Engages with clients to review investment performance and anticipated market changes based on economic and industry analysis
  • Stays up-to-date on recommendations from the Chief Investment Office, current market conditions, and economic trends to anticipate and mitigate investment risks
  • Develops meaningful relationships with clients, while demonstrating the highest care, skill, diligence, and ethics

Required Qualifications:
  • Minimum of 10 years of investment decision making and financial consulting experience working with high-net-worth and ultra-high net worth clients
  • Has held positions of increasing responsibility with an established and prestigious financial services firm, most likely in a wealth management, private banking and/or trust field
  • Knowledge of fiduciary and financial products and services through extensive related work experience
  • Broad-based technical knowledge of investments, tax, legal and operations necessary to service clients
  • Knowledge of fiduciary standards, principles and applicable laws and regulations usually acquired through training, seminars or law school
  • Skills and experience in negotiating, delegating and leadership
  • Superior client service and relationship management skills

Desired Qualifications:
  • Bachelor's Degree in Finance, Accounting, Economics or related field or equivalent financial services/business experience
  • Graduate Degree such as MBA or JD
  • Holds appropriate credentials such as CPA, CFP and/or CFA designation
  • The ideal candidate will bring an appropriate mix of financial services expertise, management and business development experience

Skills:
  • Advisory
  • Client Investments Management
  • Customer and Client Focus
  • Investment Management
  • Presentation Skills
  • Active Listening
  • Analytical Thinking
  • Attention to Detail
  • Client Experience Branding
  • Valuation Ethics and Practice Standards
  • Collaboration
  • Critical Thinking
  • Data Quality Management
  • Trading
  • Written Communications

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)
Hours Per Week:
40

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