"Similar but different" is the best way to describe Franklin Resources (NYSE: BEN) and T. Rowe Price (NASDAQ: TROW). That said, the difference that's most important is probably one that a lot of investors wouldn't even look at. But, in this pair-up of high-yield asset managers, it really is the difference between feeling comfortable enough to sleep at night and living with the fear that a dividend cut is a realistic possibility.

Both Franklin Resources and T. Rowe Price manage money on behalf of others. They have various products, from mutual funds to alternative investments, but the big picture is that they charge fees based on the amount of money they have under management. Assets under management, or AUM, is what has the biggest effect on the top and bottom lines.

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Source Fool.com