Overview

Many financial books and seminars have told us that we can benefit from using a Money Manager, but what exactly does a Money Manager do? To put it in a nutshell, they help look after our investments so that we can reach our financial goals. If you don't really know what your goals are and haven't thought about where you'd like to be financially in the future, they will sit down with you, help you define realistic goals and make some suggestions. Here are some of the services that a Money Manager provides:

  • Monitor a client's assets and manage them, making trades when necessary
  • Keep clients informed about their assets and decisions being made
  • Provide reports of the client's portfolio activity available to them on a monthly basis
  • Give personalized service based on individual needs
Next: What does a Money Manager do?

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Karen Arrese was a Money Manager

Working as a money manager encompasses many capacities from research and analysis to risk management to marketing. Asset managers monitor news on their investments and potential investments and must be ready to react and adjust their portfolio. Thus, asset managers must be decisive and confident with risk-taking. Asset managers often have analysts to assist them, but must have the ability to synthesize information from various sources and draw conclusions. Money managers rely on economic theory as well as probability and math in their decision making on a daily basis. Managers should also be able to clearly articulate their views to colleagues and clients (investors) and potential clients. I enjoyed all facets of the investments process. My education prepared me well to perform many of the expected tasks. However, the level of stress in dealing with time-sensitive information was uncomfortable for me. Managers can be required to take large amounts of risk in short periods of time. As a money manager, your portfolio performance is calculated constantly and one must be comfortable with such evaluations.

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