The Asset Management & Custody Activities industry is comprised of  companies that manage investment portfolios in return for commissions or fees from institutional, retail, and high net worth investors. Furthermore, the industry has a range of firms that provide private banking, wealth management, financial planning, investment advisory and retail security brokerage services. Investment portfolios and strategies may be diversified across varying asset types, including but not limited to, equities, fixed income and hedge fund investments. Custodian activities refer to a financial institution that safekeeps a customers securities. The Custodian may also hold stocks or other assets in electronic or physical form. Companies involved in the industry range from large multinational asset managers to smaller boutique firms who may cover a certain niche.

Corporations in the industry can differentiate themselves by offering more attractive charging fees for service as well as having superior past investment returns. Smaller firms may compete by appealing to specific clients needs and risk tolerances.  This industry has been heavily regulated since the Great Financial Crisis, resulting in changes to advisory procedures and risk management processes.