The financial services industry is a large sector that helps people make money. They include banking, insurance, and asset management. These services also help companies raise funds.
Banks, insurance firms, and other financial service providers work with clients to make loans and investments. By channeling cash between savers and borrowers, they redistribute risk and enable reinvestment opportunities. Some of the types of financial services include credit card networks, currency exchange, and payment systems.
Financial services are essential to the economy. A healthy industry helps people get loans, safeguard property, and protect health. In the case of an unforeseen expense, consumers can depend on insurance.
Banks and other financial service providers can also help investors by monitoring their portfolios and adding value. Financial goods include stocks, bonds, and real estate. However, this is a complex industry, and many individuals have trouble understanding it.
Some financial services jobs are very demanding, with many hours spent at work each day. For instance, you could be a mortgage inspector, an investment portfolio manager, or a financial advisor. Each of these positions requires a mix of hard and soft skills.
There are also a number of community-based nonprofits that provide money management advice to people in need. You may be able to break into these roles if you have a connection.
Another career path to consider is a job in financial research. This is a department within a securities research firm that maintains a public stance on specific industries.