Financial services are a large and diverse industry that involves banking, brokerage, mortgages, credit cards, payment services, real estate, taxes and accounting. They are the backbone of healthy economies and facilitate the flow of capital in the world, supporting businesses, individuals and governments.
The financial services sector has become almost all-encompassing. Whereas banks used to stick to their niche of offering checking and savings accounts, loan associations focused on mortgages and credit cards, and brokerage companies offered investment opportunities in stocks and bonds, today all these industries operate under the umbrella term of “financial services.”
Insurance is another big subsector of the financial services industry. People buy this type of service to protect themselves against the loss or damage of something valuable (such as their home, car and health) and against the cost of unforeseen events such as an accident or death.
A career in the financial services industry is exciting and challenging. It is a highly competitive field with many opportunities for advancement based on merit. Those who are intelligent, quick-thinking and team players tend to thrive in this environment. The industry is also known for its generous benefits, including health insurance and retirement plans.