Most of the time when people think of asset management they think of investment advisers and financial planners helping people with their retirement portfolios, but asset management is much more than this. Generally speaking, asset management is protecting, managing and upgrading anything that is considered valuable to someone, a group of individuals, or organizations. Assets may include, but are not limited to, stocks and bonds, currency, real estate, antiques, furniture, intellectual property, and employees.
The financial services industry has many different kinds of Sngapore asset management firm that provide services for different types of financial needs. For instance, financial asset management companies may specialize in pension plans, trusts, mutual funds, alternative investments, and/or cash management. Some of the most well known financial asset management companies include Goldman Sachs, Wells Fargo, Edward Jones, and Charles Schwab. It is important to note that companies who primarily sell insurance products like Farmers, State Farm and Nationwide are focused on asset protection, not asset management. The key difference is that asset protection companies help to replace lost assets that were covered by insurance whereas asset management companies help to grow assets and cannot guarantee these assets will be replaced if loss.
Employees are a valuable asset to employers because it is hard to run a business without the help employees provide, and without this help, it would be hard to stay in business. For larger businesses, their asset management department when it comes to employees is human resources. Their job is to find and hire employees they feel will add value to the company. As a way of protecting the employees, they provide them with a steady competitive income, health benefits, time off, and/or bonuses.
There are many areas in the public sector where assets need to managed such as roads and highways, schools, power plants and public utilities, and computer systems to name a few. Just like in the private sector, the public sectors has human assets, or employees, that need to be managed. In the public sector, not only are there human resource departments to manage the employees, the employees act as asset managers by working to improve the infrastructure and services provided by the governmental entity.
Asset management encompasses protecting and upgrading a wide range of assets in both public and private sectors. People often don’t think of roads and highways as being an asset until they are destroyed or damaged in a natural disaster. There will always be a need for asset managers, and this would be a good field for someone entering the work force to look into.