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Asset management is an umbrella term that covers a range of services offered by banks and other financial institutions to help manage a client's assets. The goal is to make money by investing the money you have (while minimizing the risk).
Some firms specialize in wealth management--investing a client's money in the stocks, bonds, mutual funds, and other instruments. Other firms specialize in asset protection which focuses on minimizing their client's risk that their wealth will be seized by litigants, creditors, or taxing authorities. Risk management firms concentrate on reducing risk of uncertain events, such as economic or political downturns.
Additionally, there are some software packages that help investors manage their own assets wisely. When
choosing a software package or asset management company, be sure to compare your various options and understand risks and potential rewards.
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