Money Managers meet one on one with clients, act as liaisons between their clients and other financial institutions, gather information to present to their client in terms the client can understand, and research the various aspects of the market to stay up to date and well-informed. A good Money Manager can make a portfolio plan to specifically fit the individual's needs and can asses each client and their circumstances.

Once the Money Manager and the client decide on specific investment goals, he/she will devise a strategy for how to reach those goals. This can be quite complicated if the client has a large amount of money to invest (a large portfolio). The Money Manager will have to balance the growth with a certain amount of safety, depending on how much risk the client is willing to take. There a thousands of investments to choose from, and the Money Manager will have to think very carefully about what will best suit the client, how many types of investments will be used and how much money will be put into each type of investment.

The Money Manager will make all the required transactions for his/her client. If it has been decided that a certain percentage of the portfolio is going into mutual funds or into stocks, the Money Manager will then help the client decide on specific mutual funds and/or specific stocks. They will then actively manage those investments, making trades when necessary on their client's behalf.

A Money Manager essentially tries to maximize a person's earning potential by making the best decisions possible through due diligence and extensive financial investment knowledge.

Earning a bachelor's degree in Finance and/or Economics is the first step to becoming a Money Manager. This is a four year university degree. After getting this degree, the next goal is to become a Certified Financial Analyst (CFA). This program will teach the student how to analyze investments and manage investment portfolios. Completing the CFA program exams can take as little as 18 months, but can take up to four years to complete.

As with anything, you will have to start with an entry-level finance job or work as an intern to get started. You can do this while going to school, giving you the hands-on work experience needed in order to learn all about managing other people's money. You may even find that the company you intern for will keep you on after you finish your schooling.

Portfolio managers will usually work for a money management firm or pension fund to select and manage investments which meet the goals of an individual or group of investors. A Money Manager can also work from a home office initially or from a rented office space. Insurance companies also hire Money Managers, as well as government institutions. The place of employment is usually based on the Money Manager's personal preference, but more than likely will be in a financial institution of some type.

The salary of a money manager can vary greatly and is more often than not based on the performance level of the employee and portfolio. Individual Money Managers normally charge a percentage of the value of the account. A typical percentage is one percent for accounts under the million dollar mark. Raising a portfolio's worth can greatly raise a manager's personal salary and consequently falls back on performance and drive.

Working as a money manager has an average starting salary of $60,000. The starting salary is based on experience. This means that the longer a manager stays with an institution and the better they do, the more money they can personally make. A money manager with experience has an average salary of $86,000 annually.

Some financial institutions choose to charge the client a set amount annually and pay each manager a percentage of that fee. Larger firms are better to work for in these cases because the salaries are higher than a firm that may only hold ten to twenty accounts. Successful firms and even individuals can make up to a million dollars annually if they are determined and skilled enough.