Financial services provide individuals, businesses and governments with the tools they need to manage their money. This is an essential part of a healthy economy and helps people gain confidence and purchase more goods and services.
Banking, brokerage and mortgage lending are all services that fall under this industry. But it also involves insurance companies, securities traders and investors.
Private equity funds, venture capital providers and angel investors supply investment capital to companies in exchange for ownership stakes or profit participation. This can be a lucrative way to invest in young and developing firms or technology startups.
The industry is regulated by independent agencies that oversee different banks, brokers and other financial institutions and ensure their operations are transparent and fair to customers. It is an interesting area to work in, as it combines finance and business with the need to build relationships.
Insurance is an important aspect of the industry, as it protects your assets and income from unforeseen events. It can protect you from death or injury, property loss and damage, or liability.
The financial services industry is experiencing a lot of innovation as digital companies continue to disrupt the old models. But these new players often bring with them some of the same challenges as traditional financial services firms – such as regulatory oversight, compliance and risk management.