Financial services are an essential part of the economy. They help people raise and disperse their savings, providing the funds that businesses need to grow and operate. They also help protect individuals against unforeseen expenses like medical and dental bills, property damage and death. They also enable companies to diversify their business operations and reduce the risks associated with their investments by enabling them to take advantage of a variety of finance options.
The financial services industry is huge and diverse. It includes banks, credit unions, credit-card companies, insurance agents, and investment firms. Some of these companies are for-profit, while others are nonprofits, such as community-based organizations that provide counseling or money management advice. Many of these companies have entry-level positions that can help you get a foot in the door, such as working as a teller or customer service representative. But if you want to work for a major bank or brokerage firm, you’ll need connections and a lot of training.
The financial services industry also includes independent regulatory agencies that oversee the different financial institutions and uphold transparent business practices. These include the Financial Industry Regulatory Authority (FINRA) and the Office of the Comptroller of the Currency.
