Financial services are the economic services provided by the finance industry, which encompasses a broad range of service sector firms that provide management and oversight of money and financial tools and resources. The industry includes everything from banks and mortgage lenders to brokers, investment advisors, credit-card companies and even insurance agencies. Financial services support individuals, small businesses, large corporations, nonprofit organizations and even governments with their various financial needs.
When most people think of jobs in the financial services industry, they picture bankers, stock market traders and insurance agents. While these are all important positions in the industry, there are many other career options. For instance, a financial advisor can help with due diligence on investments, valuation services for companies, aid in real estate endeavors and more. Another option is a financial planner, who can help with budgeting, saving and retirement planning.
A financial good is any object that has a financial value, such as a house or a car. Financial services are the processes that surround these objects, which include financing and acquiring them. This industry also encompasses the regulatory bodies that oversee different institutions and uphold standards for transparency and fairness.
A typical career path for those in the financial services industry is to start out in an entry-level position and work their way up, gaining more responsibility each time. This allows for a better understanding of how each aspect of the job works, as well as giving candidates an opportunity to build their network within the field.