Careers in Financial Services
Financial services are economic services provided by the finance industry, which encompasses a broad range of service sector firms that provide financial management, including credit unions, banks, credit-card companies, insurance agencies, investment-banking houses and more. They are an important part of a nation’s economy, as they facilitate capital formation and allow for the free flow of money within the marketplace.
When people have control over their finances, they are more resilient to life’s setbacks and can save for a better future. Yet, in the UK alone, nearly half of adults don’t feel confident making decisions about their finances, are over indebted and struggle to understand their financial products. It’s time for a change, and the financial services industry can lead it by bringing customers into financial wellness.
For many people, a career in financial services is the way forward. It’s a highly competitive, fast-paced industry, but it also offers opportunities to build relationships and support others in a supportive team environment. You could work on the frontline dealing with clients or be involved in analysing the industry and making predictions for the future.
Before the 1970s, each sector of the financial services industry more or less stuck to its own specialty. Banks provided checking and savings accounts, loan associations offered mortgage loans, and brokerage companies gave consumers the chance to invest in stocks and bonds. Today, however, the lines between the sectors are blurring. Companies like banks often acquire and combine different types of financial services to earn more money from their customers and offer more options for them.