KXLY Posted: Updated: March 10, 2021 9:20 AM Asset management is a giant business. In 2019, the top 500 largest asset managers worldwide oversaw $104.4 trillion worth of assets, according to Thinking Ahead Institute by Willis Towers Watson. These stratospheric numbers might make the term asset management seem way beyond your world. But asset management is a financial service that can benefit those with small or huge net worths. Asset Management Definition Asset management is the service of managing a client’s money. At its core, that means identifying a client’s goals and then working to accomplish those goals, usually growth of investment money, via portfolio management—selecting, purchasing and managing financial assets, like stocks, bonds or any other kind of investment asset.