Money management jobs are typically very intense jobs that focus not only on technical skill, but also on being able to relate well with people. Those who are highly successful in the field have the ability to analyze money management practices and investment vehicles, and also gain the trust and respect of clients. Typical money management jobs include being a portfolio manager, a portfolio marketing manager, an investment adviser, research analyst, or a hedge fund trader. Lower level money management jobs may include those in personal or retail banking.
A portfolio manager seeks to find the best investments for groups with specific investment objectives. Generally, a person in this position has the final say in the investment decisions made for a particular fund. Strategies taken in these investment decisions can be very diverse, from hunting for cheap bargains to taking a more conservative approach. The individuals in money management jobs who go on to be portfolio managers usually start as research analysts.
Typically, managers come from the ranks of analysts because the jobs are very similar. An analyst is expected to understand the market and how it may react to different circumstances. This person understands that growth is not determined by the daily fluctuations, but by the long-term outlook, and can make decisions accordingly. Those decisions are reviewed by the manager.
A portfolio marketing manager is the selling arm of the business. A person in the position of marketing manager is expected to find clients who feel there is value in the fund. Typically, the marketing manager meets with clients to explain or demonstrate how buying into the fund will benefit them in the long run. This individual may market to individuals or employers, depending on the situation. The job typically requires a great deal of travel.
An investment advisory job is another occupation that works closely with customers. In this capacity, an individual may meet with clients or prospective clients who need help in determining what investment strategies might best help them reach their goals. This individual may not actually be responsible, or have any vested interest, in any one company's products or investment funds.
Being a hedge fund trader is another one of the jobs in money management. The owners of those funds hire people who are skilled in analyzing stocks, bonds, and other products, such as derivatives and currencies. These individuals should have a broad base of knowledge in all of these areas in order to recommend the best value to clients.
While these previous money management jobs may require an extremely high level of skill and experience, retail banking positions, such as personal bankers and loan officers, also represent types of jobs in money management. These individuals work closely with clients one on one. In many cases, the client is not looking at a long-term investment strategy, but they might be.