Glossary · Firm structure

Rep as portfolio manager

Rep as portfolio manager describes an arrangement where the individual advisor constructs and manages portfolios themselves rather than using centrally managed models.

It preserves the advisor's investment identity and creates a supervisory obligation: the firm must be able to show what each advisor is doing and that it remains within policy.

The scaling problem is real. Investment management is the part of the job that does not get easier with more clients.

Read more: The rep-as-PM problem →