Financial service is one of the components of the financial system that provides different types of finance through various credit instruments, financial products and services. Financial Services Management looks at the different branches of banking: Insurance, Financial Advice, Investment.

 

The financial services sector is the main driver of a nation’s economy. The sector also serves the public by giving out advice on how they might make the most of their savings.

 

Financial services providers fall in the following categories:

1. Specialized Financial Institutions
2. Commercial Banks
3. Merchant Bankers
4. Insurance Companies
5. Investment Trusts and Mutual Funds
6. House Building Co-operative Societies
7. Credit Card Issuer Companies
8. Leasing Companies
9. Venture Capital Companies
10.  Credit Rating Agencies
11.  Non-banking Financial Companies (NBFCs).

 

The importance of financial services to the economy and the need to foster trust among providers and consumers are among the reasons governments oversee the provision of many financial services.

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Here are the main types of financial services for you to consider:

• Banking
• Advisory
• Wealth Management
• Mutual Funds
• Insurance
• Stock Market
• Treasury/Debt Instruments
• Tax/Audit Consulting
• Capital Restructuring
• Portfolio Management

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If you want to work in this industry, you need to research and understand not only the different kinds of financial services but also the different kinds of financial services institutions.  The presence of financial services enables financial institutions to not only raise finance but also get an opportunity to disburse their funds in the most profitable manner. Mutual funds, factoring, credit cards, hire purchase finance are some of the services which get financed by financial institutions.