Financial services are a vast array of activities and offerings that allow individuals, businesses and governments to secure their finances, manage assets, invest money, and achieve financial goals. The industry includes banks, investment companies, credit unions, insurance providers, credit card companies and more. The sector also includes debt resolution companies and global payment systems such as Visa and MasterCard, as well as exchanges that facilitate stock, derivative and commodity trades.
For most people, a good example of a financial service is an insurance policy. This covers the cost of unforeseen expenses like property damage, illness or death and allows for a more financially secure life. Other examples include investment and wealth management services, which provide specialized guidance to high net worth individuals. Then there are the independent agencies that oversee different financial institutions to ensure transparency and fairness. These include the Financial Industry Regulatory Authority and the Office of the Comptroller of the Currency.
A career in financial services can be lucrative, with a number of entry-level positions offering competitive compensation and rapid advancement opportunities. Many companies offer extensive training and on-the-job mentoring, providing the necessary skills for success. In fact, many employers value aptitude over experience and promote from within the ranks. The field is also known for being highly diversified, with many different specializations to choose from.