What is asset management?

Asset management can refer to a couple of different financial concepts. The first is the management of investments, such as a stock portfolio. The second is an account that includes all of a client's financial dealings, such as bank accounts, credit cards, loans and money market funds.

The main goal of asset management is to make the best financial decision for the client. This can be done by purchasing stocks and other investments at a low price in the hope that the value will increase. Asset management is often done by investment firms and financial planners that focus solely on the portfolios of their clients.