what is money management 
money management refers to the processes of budgeting saving investing spending or otherwise overseeing the capital usage of an individual or group the term can also refer more narrowly to investment management and portfolio management the predominant use of the phrase in financial markets is that of an investment professional making investment decisions for large pools of funds such as mutual funds or pension plans understanding money managementmoney management is a broad term that involves and incorporates services and solutions across the entire investment industry consumers have access to a wide range of resources and applications that allow them to individually manage nearly every aspect of their personal finances as investors increase their net worth they also often seek the services of financial advisors for professional money management financial advisors are typically associated with private banking and brokerage services offering support for holistic money management plans that can involve estate planning retirement and more in the growing financial technology market personal finance apps exist to help consumers with nearly every aspect of their finances investment company money management is also a central aspect of the investment industry investment company money management offers individual consumers investment fund options that encompass all investable asset classes in the financial market investment company money managers also support the capital management of institutional clients with investment solutions for institutional retirement plans endowments foundations and more top money managers by assetsglobal investment managers offer retail and institutional investment management funds and services that encompass every investment asset class in the industry two of the most popular types of funds include actively managed funds and passively managed funds passively managed funds replicate specified indexes and usually charge low management fees the list below shows the top global money managers by assets under management aum 1in 1988 blackrock inc was launched as a 1 division of the blackrock group by the end of 1993 it boasted 17 billion in aum and by 2022 that number swelled to a whopping 8 6 trillion blackrock s exchange traded fund etf division called ishares has about 2 5 trillion in aum globally amounting to roughly 29 of the group s total assets overall the firm employs approximately 13 000 professionals and maintains offices in more than 30 countries around the world 213the vanguard group is one of the most well known investment management companies catering to more than 30 million clients across 170 countries vanguard was founded by john c bogle in 1975 in valley forge pennsylvania as a division of wellington management co where bogle was previously chair since its launch vanguard has grown its total assets to beyond 8 trillion becoming the world s second largest asset manager thanks to the popularity of its low cost investment funds 41fidelity management research co was founded in 1946 by edward c johnson ii as of dec 31 2022 fidelity had more than 40 million customers with 10 3 trillion in total assets and 3 9 trillion in aum 51the firm offers hundreds of mutual funds including domestic equity foreign equity sector specific fixed income index money market and asset allocation funds 