Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance firms, consumer-finance companies and accountancy companies. The industry is a vital part of any economy, and its players are involved in many of the most important decisions made by individuals, corporations, and governments.
A healthy financial sector is one of the key indicators of a country’s economic growth as it promotes investment, savings and production. It helps consumers buy various products on hire purchase by enabling them to raise money through the capital market, and it also protects them against risks, such as death or loss of property, by providing them with insurance policies.
If you are interested in pursuing a career in this field, then you should read some of the top publications, such as The Wall Street Journal and Barron’s. You should also subscribe to the business journal at your local library, and you may want to consider a subscription to Value Line, a service that provides information about stocks and mutual funds.
Financial services are vital to any economy, and it is likely that at some point during your lifetime, you will need the services offered by this industry. It is important to have a solid understanding of the different sectors within this industry so that you can make informed decisions about your own finances and the financial health of the nation.