Financial services are economic services that encompass a wide range of activities related to the management of money and include depository institutions, credit unions or credit cooperatives, credit-card companies, banks, building societies or mortgage bankers, insurers, pension funds, investment firms, securities brokers and dealers, and asset managers. Financial services also include financial intermediation and a wide range of businesses that provide the necessary infrastructure for the industry.
Banking services supply people with a safe place to store their money and are the most common type of financial service. This includes checking and savings accounts, as well as loans like personal and home equity lines of credit. Financial services also help with investing, which involves taking risks to earn higher returns. Examples of investments include stocks and bonds, mutual funds, hedge funds and private equity.
Insurance services protect people from the financial impact of death or disability, as well as property loss or damage. This is an important part of the financial services industry because it allows people to save and invest their money knowing that they are protected in case something bad happens.
If you’re interested in a career in the financial services industry, there are many opportunities available to you. However, it is important to do your research before applying for jobs to make sure they will be a good fit for you and your skillset. In addition, most businesses in this sector will offer continuing education opportunities to keep their employees up to date on the latest tools and trends.