Asset management is the process of overseeing and directing a company's or an individual's investments to achieve specific financial goals. Asset management is typically performed by investment professionals, such as financial advisors, wealth managers, or investment managers.
The goal of asset management is to grow and protect an individual's or a company's wealth over the long term by selecting a diversified mix of investments that align with their risk tolerance and financial goals. This may include stocks, bonds, real estate, commodities, and other assets.
Key Features
These goals aim to achieve improved financial performance, fiscal stability and safeguard the organisation’s investment. External aspects like inflation and internal factors like staff efficiency can affect your organisation’s economic goals. The goals help you invest in quality infrastructure and optimise the lifecycle costs of your assets.
Some of the advantages of economic objectives include:
The process of asset management typically involves the following steps:
Asset lifecycle is the number of stages that an organization’s asset goes through during the lifespan of an asset’s ownership. It is the period that an organization can effectively and efficiently utilize an asset to accomplish its business goals. An asset lifecycle typically covers all phases of an asset’s life from acquisition through maintenance and eventual disposal.
Smart businesses don’t waste time trying to complete basis and repetitive asset management tasks manually by using the same outdated process over and over again. Investing in asset management software allows businesses to automate tedious and time-consuming asset management activities offering administration team to focus more on value-added activities.
Asset management can be especially valuable for individuals and companies that have complex investment needs, who do not have the time or expertise to manage their investments themselves, or who want to outsource the investment management process to a professional.
When working with an asset manager, it's important to choose a reputable and experienced professional and to regularly review and adjust your investment strategy to ensure that your portfolio remains aligned with your financial goals.
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