For students interested in pursuing a business career, it’s essential to start early by identifying areas of interest that can shape their professional journey. One such critical area is asset management, a highly sought-after skill set in today’s business world.
Asset management is poised to significantly impact various sectors, including private credit; insurance; environmental, social and governance (ESG) investing; product development; and private markets. Graduates of St. Cloud State University’s online Bachelor of Science (B.S.) in General Business program gain foundational skills needed for critical business tasks like asset management.
According to the Corporate Finance Institute, asset management involves financial institutions managing investments on behalf of large entities such as sovereign wealth funds, pension funds and corporations. These clients are typically referred to as institutional investors, and the professionals handling their investments are known as institutional asset managers. The funds under management involve various financial products, including mutual funds, ETFs, individual stocks and bonds, hedge funds, and private equity.
On the other hand, wealth management is a specialized form of asset management that focuses on individuals or families. It involves managing investments and requires a comprehensive understanding of the client’s financial situation, including their income, expenses, assets, liabilities and long-term financial goals. To offer personalized financial advice and strategies, wealth managers consider various aspects of the client’s economic life, such as employment terms, trusts, insurance and philanthropic activity.
What Skills Are Necessary for Asset Management?
Asset management involves managing investments on behalf of clients to maximize returns while minimizing risk. It requires a combination of analytical, financial and interpersonal skills. The website 300Hours says the critical skills for asset management include technical ability, broad knowledge, communication, analytical thinking, creativity, a deep sense of financial markets and humility.
How St. Cloud State University’s B.S. in General Business Develops Asset Management Skills
St. Cloud State University’s online B.S. General Business program equips students with the fundamental skills needed to succeed in various business roles, including asset management. The program offers a comprehensive curriculum covering essential business principles. Note the following key courses and the skills and insights they provide to students:
Management of Financial Institutions
This course is critical for students interested in asset management. It covers the operation and management of financial institutions, providing students with an understanding of financial market functions and product development. Students learn about risk management, portfolio management and the regulatory environment, all of which are essential skills for asset managers.
Investment Principles
This course focuses on investing principles, including analyzing different types of securities and constructing investment portfolios. Students gain hands-on experience in evaluating investments and managing portfolios, which are crucial skills for asset management.
Business Communication Strategies
Given the importance of communication in asset management, this course helps students develop the ability to convey complex financial information clearly and persuasively. Students practice writing reports, making presentations and negotiating with clients, all of which are vital in a career in asset management.
The Legal, Ethical, and Global Environment of Business
Ethical decision-making is a cornerstone of asset management, and this course emphasizes the importance of ethical behavior in business, as well as legal concerns in global business environments. Students explore real-world scenarios where ethical judgment is required, preparing them to navigate the ethical challenges they will face in their careers.
What Can You Do With a B.S. in General Business?
Graduates of St. Cloud State University’s online B.S. General Business program can pursue jobs in various areas, such as management, sales, banking and executive roles. Some potential career opportunities include:
- Asset manager: managing investment portfolios for clients, including individuals, corporations and institutions
- Financial analyst: analyzing financial data to guide investment decisions and strategies
- Portfolio manager: overseeing a portfolio of investments, making decisions about asset allocation and risk management
- Risk manager: identifying and mitigating financial risks associated with investment portfolios
Why Asset Management Skills Are Important in Business
Asset management skills are in high demand across various sectors. As markets become more complex and globalized, managing assets effectively and ethically is essential for business success. Oliver Wyman states asset management will be crucial in private credit, insurance, ESG investing and other areas in the coming years. Developing these skills through St. Cloud State University’s well-rounded program can provide a competitive edge in the job market.
Learn more about St. Cloud State University’s online Bachelor of Science in General Business program.
