What is an Asset Manager?

Ever wondered what an Asset Manager does? Or are you looking to move into a new industry? Check out the article below to find out more.

(P.s. there are some Asset Manager opportunities available at the bottom of this article)

Asset Management involves increasing the total wealth over time by acquiring, maintaining, and trading investments that have the potential to grow in value. They may also be known as ‘Portfolio Managers’ or ‘Financial Advisors’. They perform this service for others; some may work independently whereas others may work for an investment bank or other financial institution. Asset Managers have a crucial role as they make decisions on behalf of their clients and are required to do so in good faith.

Asset Management has a double-ended goal; to increase value whilst diminishing risk. They determine what investments to make, avoid or understand the client’s financial goals within their tolerance of risk. Assets include stocks, bonds, real estate, commodities, alternative investments, and mutual funds.

Typical day-to-day jobs include:

• Maximising profitability
• Running and analysing inventories of all assets
• Liaising with suppliers to obtain the best price for assets
• Investing money for upcoming projects
• Working with asset management systems and tracking technologies
• Ensuring financial records are up-to-date and accurate
• Monitoring materials, workforce, tools, equipment, and supplies
• Reporting on finance and forecasting budgets
• Working in an office and making occasional site visits.

How much could you earn as an Asset Manager?

The expected salary for an asset manager varies as you become more experienced.

• Newly trained asset managers can earn ￡19,000 – ￡21,000
• Trained asset managers with some experience can earn ￡38,000 – ￡40,000
• Senior asset managers can earn ￡40,000 – ￡50,000!

The hours and salary can depend on location, employer, and any overtime you may do.

How to become an Asset Manager:

There are several different routes to becoming an asset manager. There is no strict educational qualification to become an asset manager, but a graduate degree is usually necessary. However, the specialisation would vary depending on the type of assets that the asset manager is expected to handle. For example, when working within property, it can help to be RICS qualified.

A relevant degree could include building and construction, business studies, finance, statistics, economics, management, or accounting. After attaining a degree, you could apply for a graduate trainee scheme or work for a bank or construction firm as a junior or assistant asset manager.

Industry Qualifications

• The Institute of Asset Management offers courses which cover the basics of asset management. You don’t need any existing qualifications for these!
• The Chartered Institute for Securities and Investment also offers qualifications and training courses; these are for both experienced professionals and school leavers who are interested in financial careers.

Work Experience

• Work experience is essential to gaining employment within the construction industry. Potential employers will always be pleased to see work experience on your CV.

Skills

Relevant skills include:

• Business management
• Patience and the ability to remain calm in stressful situations
• Knowledge of manufacturing production and processes
• Able to use your initiative
• Able to accept criticism and work well under pressure
• Be flexible and open to change
• Analytical thinking skills
• Able to carry out basic tasks on a computer or hand-held device.

Interested in Asset Management and would like to apply for a role? Check out the opportunities we have available here.