The term asset management is often used to refer to the investment management of collective investments. An asset manager is in charge of the financial assets such as immediate annuities, deferred annuities or stocks and bonds. They analyze and observe a wide group of investments in hopes that they will flourish and be profitable.
Things You'll Need
- -Bachelor and/or Master degree in Business Administration or any other business or financial related degree.
How to Become an Asset Manager
With the highly competitive environment in this field, it is necessary and advisable to pursue a degree concentrating on business and/or financial fields. There are various online options to get a degree such as www.kaplandegress-online.com.
It is important to familiarize yourself with the financial world as you will be dealing alot with financial issues on a day to day basis.Subscribe to business news like Forbes or Bloomberg. These companies are information-service based, constructed to provide business and financial professionals with the tools and data they need on a single, all-inclusive platform. Getting yourself exposed through such publications helps to broaden your knowledge on asset managing by pointing out where the market stands.
Get to know what is happening with stocks and bonds.Familiarize yourself with the stock market. By so doing you are aware of what is doing well on the market and what is not. Thus you are able to make clear and distinct decisions in advising you client on where to invest for maximum profit.
Get to understand the product or service your company or client wishes to invest in. The mostly commonly used investments rely on stocks from financially stable companies that have a consistent annual growth in revenue. This is known as an income-based investment.Examples of such companies are the telecom companies like AT&T and Verizon.
Alternatively you can use the option of a growth-based investment which is the using of stocks from companies that re-invest their own income in the hope of maximizing on their profits.
You should be able to work on your own intitiative as well as with a team. This is a people based profession so you will need to learn to work in a team and respect the ideas of others. Communication is an important factor so make sure you understand what you are doing and are also also able to communicate your ideas to your team members in a precise and clear language.
Tips & Warnings
- To further expand your knowledge in asset management as well as improve your hands-on skills it is important to watch and learn from more experienced professionals in the field. Adhere yourself to such professionals and do not be afraid to ask questions.
- Note that asset management involves investment in various stocks and bonds. A bad choice can lead to your company's shares losing value. Do your homework before recommending investment.
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