Financial services help people and organisations make, invest and manage their money.
It’s a broad industry that includes everything from banks and brokers to insurance companies and Wall Street. It also serves small businesses, large companies, nonprofits and even the government.
Banks and other financial institutions collect deposits from depositors, pool them together, and lend the funds to borrowers. They then charge a fee for this service, called interest.
This makes them a good place to store money for the future. But it also means that you have to pay back the money to them plus a little more to cover the cost of interest.
Brokers are people who help you buy and sell stocks, bonds and other securities. They can also give you advice about how to best invest your money.
Mortgage lenders can give you a loan to purchase a house or car. They make their money by charging you a fee for the loan and the interest you pay on it.
Insurance helps you protect your assets from theft, fire or other disasters. It also pays you in case of death, so that you can be taken care of by your loved ones.
These types of services are very important to the financial services industry. Without them, we wouldn’t be able to get loans and invest our money.
It’s an interesting field to work in because it involves so many different skills and areas of expertise. It’s also a field that pays very well, and gives you plenty of flexibility in terms of your schedule.