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 or 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 are 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 or 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.