your outer query has Two WHERe statmeents; the second one should be an AND, i think:

SELECT

dbo.ACCOUNT.PORTFOLIO

FROM dbo.ACCOUNT

INNER JOIN dbo.SERVICE_JOIN

ON dbo.ACCOUNT.PORT_ROW_ID = dbo.SERVICE_JOIN.PORTFOLIO_ID

INNER JOIN dbo.SERVICES

ON dbo.SERVICE_JOIN.SERVICE_ID = dbo.SERVICES.ROW_ID

INNER JOIN dbo.CONTACT_JOIN

ON dbo.SERVICE_JOIN.SERVICE_ID = dbo.CONTACT_JOIN.SERVICE_ID

INNER JOIN dbo.CONTACTS

ON dbo.CONTACT_JOIN.CONTACT_ID = dbo.CONTACTS.ROW_ID

FULL OUTER JOIN dbo.NOTES

ON dbo.SERVICES.SERVICE_TYPE = dbo.NOTES.SERVICE_TYPE

AND dbo.ACCOUNT.ACC_ROW_ID = dbo.NOTES.ACCOUNT_ID

WHERE EXISTS (SELECT

dbo.ACCOUNT.PORTFOLIO

FROM dbo.ACCOUNT

WHERE dbo.CLIENT.REGION = 'R1')

AND NOT EXISTS (SELECT

dbo.ACCOUNT.PORTFOLIO

FROM dbo.ACCOUNT

WHERE dbo.DM_SERVICES.SERVICE = 'MISSING_SERVICE')

also, you may have modified an existing query, but as it stands, if this is returning just the one column dbo.ACCOUNT.PORTFOLIO

FROM dbo.ACCOUNT there is no reason to have lall those other joins...they just slow down the query, and you only need the WHERe...AND