Covestor and CVIM Blog

CVIM Model Managers

We are shortly going to pass the fifty mark of people managing models available for live replication in a single managed account and it seemed timely to share this visual of the diversity of managers on there.

There are an incredible mix, from Andy Djordjalian down in Argentina managing a South American ADR model over to Yinglin Tan in Singapore who has written a book on Venture Capital and Invests in Asian Venture backed equities. Although they all trade on US markets they already span the globe. 

View Model Manager Locations in a larger map

We are very proud of all of the managers on there, both Investment Advisors and Individual Investors. We hope we are also providing them with a platform to broaden their reach for the hard work they are already doing. If you are interested in investing alongside them or in joining them give the team a call: 1.877.873.8830

Seeking freelance Business Analyst for project in London

Business analyst with proven software development lifecycle experience required to work on a cutting edge web project for online investment management start-up, Covestor.

You will capture and document the requirements from senior stakeholders for this complex project, define the various use cases and identify any required process changes.  You will work closely with the development team on implementation and manage quality assurance.

You have strong, structured business analyst skills.   Having previously worked in an agile web development environment, you will have a track record of being able to deconstruct complex and interlocking requirements into implementable and testable components.

Prior finance experience preferred but not required.  Initially a 2 month project.

About Us

Covestor Investment Management (CVIM), an SEC registered investment advisor, is the world’s first web based money management platform.  It provides a managed account service, previously only available to those with millions of dollars invested with a wealth management firm, where one can invest alongside any brilliant self-directed individual or professional investor (www.cv.im).

CVIM is the transactional platform of Covestor (www.covestor.com) the leading real-trade sharing service that lets any committed investor, individual or professional, build a track record, establish a fund and benefit as if they were a professional money manager. 

What to Do Next…

This is a contract position based in Covestor’s London office.  Only passionate, energetic and ambitious individuals who are also eligible to work in the UK should apply.  If that’s you, don’t delay, send your CV and details of your current compensation to jobs0110 (at) covestor.com.

Optimization of Trade Replication Process

When a model manager submits an order, their broker sometimes breaks down the order into multiple fills for execution to optimize the price achieved. 

For example, a model manager enters an order to Buy 1,000 ICXT.  The broker is able to fill 400 immediately at two different prices and breaks down the remaining 600 into 3 equal lots of 200 which are all filled 10 minutes later on 3 different exchanges.  This executes the manager’s order in full and results in a total of 5 fills.

Our real-time feed from the model manager’s broker account provides us with this stream of fills.  To date our systems have replicated each of these fills for clients.  Using the above example, this would result in the creation of 5 client orders for replication.

Yesterday we changed our trade replication algorithm to aggregate model manager fills that are executed by the broker at the same time.  Using the example above, we would now create 2 client orders for replication instead of 5.  This matches the number of trades the model manager would see as having been executed on their broker statement.

As always, if you have any questions do contact our client relations team.

New Feature: Updated CVIM Profiles

We are working at Covestor on continuously improving the profiles of the Model Managers available for auto trading in a CVIM managed account. Today we put live a number of these elements which should make it easier for clients and prospective clients to find appropriate models, and understand what they are subscribing to.

The updates include:

• Performance Charts: We are now charting the performance of the members who are managing models. You can select the period or zoom in by selecting the area on any chart to look at the detail
• Cleaner summaries: THe investment strategies are tabbed to give a clearer sense of what the model is all about
• Holdings and Trades : Logged in clients can view all of the back up data on the models available for subscription. This includes the history of trades, current holdings and all investment reports. Some of the managers have chosen not to share all of the trades and their current holdings and so on a few of the models this data will be hidden

We are shortly going to be adding some metrics for average monthly client performance (where available), i.e. the average performance the clients are achieving rather than the actual returns achieved by the manager of the model as currently displayed.

We will keep building out the profiles and providing more and more information on the models available. If there is anything you would like to see included do get in touch. Our client relations team are also available any time if you want to understand how to get set up as a client. Happy New Year all!

Job Opportunity - Data Manager, London

This is a newly created position within Covestor’s London based Data Team.  The Data Manager will be responsible for setting up new clients and model managers on the CVIM platform and ongoing maintenance of accounts on both cv.im and covestor.com. The role requires a close relationship with both our sales and technology teams.

Key Responsibilities

• Client and Model Manager Take-On - manage prospective clients and model managers through the process of establishing tradable accounts
• Account Reconciliation - daily reconciliation of client and model manager accounts to custodian records
• Security Master Maintenance
• Trade Monitoring – intra-day model manager and client trading activity
• Reporting and Administration - production of compliance and operational reports

About You
You will be a detailed oriented individual, comfortable around technology and willing to roll your sleeves up and get immersed within a fast paced and demanding environment.

The successful candidate will :

• be highly numerate and analytical
• possess strong Excel skills
• have a strong eye for detail and accuracy
• have excellent written and verbal communication skills
• have drive and enthusiasm and be able to work autonomously

Additional useful skills / characteristics:

• knowledge of equities, funds and other financial instruments
• accounting experience

This is an exciting opportunity for someone recently graduated from an accounting or finance degree and interested in pursuing a career in the finance or technology sectors. Alternatively, you may have 1 to 2 years experience working within the data team of an information provider or financial services firm and now looking for an entrepreneurial challenge.

What to Do Next
This is a full-time position based in Covestor’s London office. Only passionate, energetic and ambitious individuals who are also eligible to work full-time in the UK should apply.  If that’s you, don’t delay, send your CV and details of your current salary to jobs1209 (at) covestor.com.

Covestor issues open invitation to enable anyone to become a portfolio manager *

As the first asset management firm to provide our clients open access to investment strategies, Covestor has opened its investment platform, Covestor Investment Management to all individual or professional investors.  Any investor can now earn fees as others follow their lead.

To join the platform a model manager must be willing to disclose real brokerage moves, and share at least a year of performance history.  Becoming a model manager requires accepting the appropriate agreement (depending on whether the individual is a professional or non-professional investor) and funding a brokerage account for live replication.

If you'd like to manage a model you can find out more or contact Eric Esterkin, Director Manager Relations at 646 502 8726.

* Unregulated individuals do not manage third party funds, but sell their trading data to CVIM.  CVIM may use that data at its sole discretion to manage its clients' funds based on their suitability.

Scheduled Maintenance

Our hosting provider will be conducting scheduled infrastructure maintenance on 30 November 2009 between 1am and 2am Eastern.  The Covestor.com and cv.im websites will be unavailable for between 20 and 60 minutes whilst this maintenance is completed.  We apologize for any inconvenience.

Job Opportunity - Head of Marketing, New York

This is a newly created position, responsible for building an online Investment Management business. The successful candidate will be responsible for the marketing budget, from planning through execution. They will manage identification of the target audience, and defining the proposition and communications for building an exciting consumer finance platform. The role requires both planning expertise as well as experience executing successful marketing programmes.

Brand ownership 
- Own brand positioning 
- Understand and define customer profiling and segmentation 

Planning 
- Identifying target audience 
- Defining proposition and incentives 
- Messaging and positioning of CVIM offering 
- Planning marketing mix 

Execution 
- Executing any copy needed for campaigns (e.g. emails, ad copy, press releases) 
- Managing third parties for campaign delivery 
- Monitoring metrics and reporting 

Campaign management 
- Ownership of mass communications – both message and medium. 
- Build and manage multi channel marketing programs 
- Monitoring and reducing cost of acquisition, and ongoing relationship metrics 

Lead Generation and relationship management 
- Initially the key role is generating high quality new client leads for the web site and sales team 
- Significant budget 

Internal support 
- Draft communications and collateral for sales and support teams

Skills
The role is ideally suited for someone who is passionate about marketing, and in shaping the direction of a highly disruptive web based product. Experience building a consumer brand from scratch preferred. The candidate does not have to have a background in financial services.

As a key member of a small team you will want to grow a new breed of financial services company from the ground up. The right candidate will be self motivated and hard working, adaptable to change and not afraid of getting their hands dirty. Rather than being an institutional fund provider, we are an internet business catering to clients that expect greater control and transparency. We are looking for a candidate who can reflect and communicate that ethos.

Key Competencies - Role Specific
- The position calls for a passionate marketeer
- Demonstrated success in building a compelling consumer proposition
- Experience marketing online products

Key Competencies - Generic
- Excellent interpersonal, and relationship-management skills
- Ability to self-manage and work autonomously
- Drive and enthusiasm

Benefits of Role
- Key member of management team, with control over significant budget
- Potential for growth in the role as core part of Covestor offering
- Part of a highly motivated team

Company Description
Covestor Investment Management (CVIM), an SEC registered investment advisor, is the first web based money management platform. It provides a managed account service, previously only available to those with millions of dollars invested with a wealth management firm, where one can invest alongside any brilliant self-directed individual or professional investor (www.cv.im)

CVIM is the transactional platform of Covestor (covestor.com) the leading real-trade sharing service that lets any committed investor, individual or professional, build a track record, establish a fund and benefit as if they were a professional money manager.

To Apply
Applicants with relevant experience should send their resume to jobs1009 [at] covestor.com

Please do not apply if you are not eligible to work in the USA or unable to attend an interview in mid-town Manhattan, New York.

No agencies

10 New Managers Available to Auto Trade

We are pleased to announce the launch of 10 new model managers, available for auto replication on Covestor Investment Management.  These managers  increase the variety of strategies available and each brings an exciting new dynamic to the platform.

The new models include William Davidson, a management professor, author and expert on emerging markets managing a emerging markets focussed model, Patrick Clark  a career air force noncommissioned officer stationed in Germany, and Stephanie Sammons  with 15+ years of wealth management experience, managing a low risk ETF focussed growth model.  While all different, all are proven investors with a history of market outperformance, a consistent strategy and their own money leading the model.

To find out more visit the CVIM website or contact our head of client relations Bhargav Shivarthy at 646 257 2143.

Job Opportunity - VP Product, New York

Covestor Investment Management (CVIM) is hiring a VP Product based in our New York office. 

We are looking for a senior professional to take ownership of an industry changing, web-based, consumer finance product.  The VP Product will be responsible for setting the product strategy and roadmap and working with a Project Manager and team of engineers to successfully execute it.  The VP Product will work closely with the CEO to refine the product strategy and achieve the Company’s core business objectives.

Specific responsibilities include:

• Conducting user research and delivering a first class, highly effective user experience
• Standardizing the product development process
• Writing the product roadmap, prioritizing and writing business requirements with sufficient detail for technical implementation
• Managing needed internal and external resources – e.g. interaction designer, copywriter, graphic designer
• Collaborating with the technical development team to deliver the best product possible

Skills
This role is ideally suited for someone experienced in building world class products and in shaping the direction of a highly disruptive web based service. The candidate does not have to have a background in financial services but will be able to operate in a fast paced start-up.

As the key member of a small team you will want to grow a financial services company from the ground up. The right candidate will be self motivated and hard working, adaptable to change, not afraid of getting their hands dirty and working both with others and autonomously. Rather than being an institutional fund provider, we are an internet business catering to clients that expect greater control and transparency. We are looking for a candidate who can reflect and communicate that ethos.

Key Competencies - Role Specific

• The position calls for an ambitious and experienced product marketeer
• Demonstrated success in building a compelling consumer proposition
• Experience building multi-functional online products

Key Competencies - Generic
- Instinctual understanding of needs of financial consumers
- Excellent interpersonal, and relationship-management skills
- Ability to self-manage and work autonomously
- Drive and enthusiasm

Benefits of Role

• Key employee with control over significant budget
• Potential for significant growth in the role as core part of Covestor offering
• Part of a highly motivated team

Company Overvidew
Covestor Investment Management (CVIM), an SEC registered investment advisor, offers its clients a better alternative to a mutual fund. It provides a managed account service, previously only available to those with millions of dollars invested with a wealth management firm, where one can invest alongside any brilliant self-directed individual or professional investor (www.cv.im)

CVIM is the transactional platform of Covestor (covestor.com) the leading online real-trade sharing service that lets any committed investor, individual or professional, build a track record, establish a fund and benefit as if they were a professional money manager.

Covestor is led by a team with successful start-ups under their belt and backgrounds from Amazon, Goldman Sachs, McKinsey and Microsoft. The company is a venture backed start-up with offices in London and New York.

To Apply
Applicants with relevant experience should send their resume to jobs1009 [at] covestor.com

Please do not apply if you are not eligible to work in the USA or unable to attend an interview in mid-town Manhattan, New York.

No agencies.