T. Rowe Price Group is a global investment advisory firm that provides comprehensive asset management services to individuals, financial advisors, institutions, and retirement plan sponsors through multiple distribution channels including mutual funds, exchange-traded funds, separately managed accounts, and private investment funds. The firm earns revenue primarily through investment advisory fees calculated on daily asset valuations at contracted annual rates that vary by asset class and vehicle type, along with performance-based fees, carried interest from private fund interests, and administrative service fees. Operating across three geographic regions and serving clients in numerous countries, T. Rowe Price competes in the asset management industry by offering active investment management across equities, fixed income, multi-asset, and alternatives capabilities alongside specialized services such as retirement plan recordkeeping and digital distribution technology.