Careers in Financial Services

Financial services

Financial services are a vital part of the economy, providing individuals with access to the money they need for their mortgages, car loans, education and more. The industry also safeguards people’s health and property by providing them with insurance and helps businesses grow with access to the funds they need. While you might think of banks, brokers and mortgage lenders as distinct entities, they are all a part of the financial services industry.

Banks provide the foundation for financial services by holding customers’ money and helping them qualify for a loan when they need it. The sector also includes credit card companies, global payment networks and debt resolution services. Broker services include those that buy and sell securities on behalf of clients, including commodities and foreign exchange. Private banking services offer bundled brokerage, investment and trust management to high-net worth individuals.

Investment and wealth management firms provide products like mutual funds, stocks and bonds to investors. These firms are often regulated by government bodies to ensure their own and their customers’ interests are protected. Insurance services include life, health, home and auto policies for consumers. Private equity funds, venture capital providers and angel investors supply investment capital to companies in return for ownership stakes or profit participation.

The broad scope of financial services means there is a wide range of career options available for those looking to enter the field. While many of the roles in this sector are for-profit companies, there are also nonprofits that provide counseling and other financial advice to people who need it. Those considering a career in this field should first determine what type of role best fits their goals and skill set.

A healthy financial services sector is essential to the world’s economies. It provides millions of people with the money they need for their mortgages, homes, cars and other needs. It allows them to save for retirement and other goals by providing access to a range of savings vehicles. It also protects people’s property and health with insurance policies, helps business expand by facilitating loans and safeguards the economy as a whole through its regulation and standards.

When you start a career in the financial services sector, it is important to have connections who can vouch for your character and ability. This is especially true if you want to be a stockbroker, whose job requires an in-depth understanding of the market and how to make recommendations for investing. Having a good network can also help you find entry-level jobs in the industry that will give you the chance to learn on the job and build your skillset over time. This makes the field ideal for young professionals who are eager to advance quickly based on their merits. Financial services also pay well, even at entry-level positions. This is especially true for those who can demonstrate their aptitude and work hard early on.