Asset management is the process of managing investments on behalf of clients to achieve specific financial goals. This involves selecting, monitoring, and optimizing a variety of assets, such as stocks, bonds, and real estate, to maximize returns while minimizing risks. Professionals in asset management often work for firms or as independent advisors, providing services to individuals, institutions, and corporations. They analyze market trends, assess client needs, and create tailored investment strategies to help clients grow their wealth over time.