We report on the development of a liquid crystalline block copolymer with brush-type architecture as a platform for creating functional materials by magnetic-field-directed self-assembly. Ring-opening metathesis of n-alkyloxy cyanobiphenyl and polylactide (PLA) functionalized norbornene monomers provides efficient polymerization yielding low polydispersity block copolymers. The mesogenic species, spacer length, monomer functionality, brush-chain length, and overall molecular weight were chosen and optimized to produce hexagonally packed cylindrical PLA domains which self-assemble and align parallel to an applied magnetic field. The PLA domains can be selectively removed by hydrolytic degradation resulting in the production of nanoporous films. The polymers described here provide a versatile platform for scalable fabrication of aligned nanoporous materials and other functional materials based on such templates.