Financial services are the market of businesses that provide deposit-taking, loan and investment products, insurance and wealth management, as well as the payment and settlement systems that support them. Banks are the largest members of this sector but the industry is also comprised of non-banking institutions that offer some or all of these services and other credit and financing organizations.
There are a lot of reasons to consider a career in the Financial services sector. In general, the industry is a lot less competitive than some other industries and it pays quite a bit in the early going, especially for those with the right personality and skill set. Companies in this sector are also heavily invested in training, with new tools being introduced to the market seemingly every day.
As the name implies, this is an extremely broad industry that impacts everyone in one way or another, from individuals to large multinational corporations. The sectors that fall under this umbrella are banking, investments, insurance, and the redistribution of risk, which include everything from hedge funds to a mortgage broker.
Having the proper level of financial wellness is crucial to society as a whole. When people have more control over their finances, they are more resilient to unforeseen events, and can save for future needs, such as retirement. The good news is that the financial services sector can help to make this a reality for more people by providing them with the information and products they need to build wealth, be prepared for the unexpected, and live a full life.