The financial services sector covers a broad range of products and players. This includes credit card companies, mortgage lenders, investment banks, insurance agencies and more. The industry is highly regulated and is often the target of government regulation. While these regulations can protect consumers, they can also hamper growth and innovation.
A financial good is a thing you can own or possess, like a house or an automobile. Financial services are the support and services needed to acquire these goods. Financial services are also the backbone of our economy. They are what makes it possible for businesses and individuals to buy and sell things.
When you think of career options in the finance industry, it’s easy to imagine yourself as a Wall Street broker or CEO. But these jobs aren’t the only ones that exist in the field. There are a wide variety of positions in financial services, from accounting professionals to loan officers. The key is to find a role that suits your skills and interests.
A great place to start is by looking at the different types of financial services. Consumer financial services include payment firms like American Express, which offers a number of debit and credit cards with rewards programs. Another category is consumer lending, which includes mortgage and personal loan providers. Finally, there are investment and wealth management services, which includes brokerage services, asset managers and retirement planning. There are also private banking services, which offer high-net worth individuals and families specialized bank products.