Whether you are looking to pursue a financial services career or want to learn more about the industry, there are many options available. The industry is large and has been growing over the years, thanks in part to advances in technology. However, it is important to understand the different institutions before making a decision on which one to work with.
Among the nine major types of financial institutions, some focus on providing services to the general public while others specialize in particular areas. For instance, American Express specializes in credit card offerings, while Berkshire Hathaway is a large multinational conglomerate that focuses on insurance and travel services.
Financial institutions help individuals save money and invest it. They also provide loans to people in need. They may also help companies raise funds by selling securities. They can also provide advice to companies on mergers and takeovers.
Some financial services companies offer personal loans, credit cards, mortgages, and savings accounts. Others provide credit facilities to producers, including leases on high-value assets. The stock market is a popular venue for investors. It offers opportunities for a higher return and can be a good place for saving.
Insurance companies help people protect themselves against natural disasters or business risks. Some companies also offer retirement and life insurance.
Brokers provide services to investors by buying and selling securities for clients. These services may also include financial consulting and investment due diligence. A specialized type of bundled broker service is prime brokerage, which is designed to meet the needs of hedge funds.