I currently work at a long-onlywithin a large institutional AM firm and have been since graduating university. However I noticed most of the work I am doing revolves around client/compliance work and understanding investment decisions rather than making them, despite working directly under PMs. I probably have about another 3 years before I can start making my own decisions, and until then I am doing what I am doing currently. I think a part of this is beacuse most of our client base is institutional, and most of these tasks are managing their mandates and whatnot (many of them have SMAs so we have to cover a lot of ground) and answering client questions about the direction we are taking their accounts with. We tend to not have crazy amounts of risk in these funds as well, so our investment strategy is pretty vanilla
With that in mind, would responsibilities differ compared to working in a family office? That is, if the client base is largely more towards private individuals, would there be less mandates and therefore less operational work and more HF-like work around investment ideas?